Kuala lumpur: Aircraft engine maintenance, repair, and overhaul (MRO) services provider GTA Holdings Bhd (GTA) has decided to delay its expansion plans in West Asia due to ongoing tensions in the region. This announcement was made by the company's Managing Director and CEO, Datuk Nonee Ashirin Mohd Radzi, who emphasized the importance of monitoring the situation closely before proceeding with market entry.
According to BERNAMA News Agency, Nonee Ashirin stated that while GTA had identified potential collaboration areas and engaged in extensive discussions, the current security situation in West Asia necessitates a pause in their plans. The company is actively engaging with local parties to determine a suitable time for re-entry into the market.
GTA, which is set to list on Bursa Malaysia's ACE Market on September 8, 2026, aims to raise RM71.75 million through its initial public offering (IPO). The prospectus outlines that RM10 million of the proceeds is designated for expanding helicopter MRO facilities in West Asia through joint-venture arrangements.
Nonee Ashirin highlighted that GTA is seeking other expansion opportunities, particularly in regions closer to Malaysia. The company has already extended its MRO services to Brunei and anticipates further announcements regarding this new market. She emphasized the importance of maintaining investor confidence while exploring these regional opportunities.
The company is also set to relocate to a new RM38.93 million facility in Bukit Jelutong, Shah Alam, by the end of December. Additionally, plans are underway to commence MRO operations for aircraft landing gear systems by the first quarter of 2027, potentially generating new revenue streams from wheels and brakes components.
The IPO involves the issuance of 329 million ordinary shares in GTA, consisting of a public issue of 205 million new shares and an offer for sale of 124 million existing shares at an IPO price of 35 sen per share. The company has allocated RM5.90 million of the IPO proceeds for the expansion into MRO of aircraft landing gear systems within 24 months post-listing.