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GTA Holdings Receives Approval for ACE Market Listing

GTA Holdings Berhad Secures Approval for ACE Market Listing
GTA Holdings Berhad, a specialist provider of aviation maintenance, repair, and overhaul (MRO) services, has obtained approval from Bursa Malaysia Securities for its proposed listing on the ACE Market. Operating through its wholly-owned subsidiary, Global Turbine Asia Sdn. Bhd., established in 2010, the company serves a diverse clientele that includes aviation operators, MRO-related customers, and defence-linked markets. GTA benefits from strategic partnerships with original equipment manufacturers (OEMs) within the Safran group and the EPI consortium. Its operations are based at the Helicopter Centre located at Sultan Abdul Aziz Shah Airport in Subang, a prominent aviation maintenance hub in Malaysia.
Business Model and Financial Performance
GTA’s business model is anchored in delivering proactive maintenance service packages, corrective maintenance works, and the sale of aviation equipment. For the financial year ending 31 December 2024, the group reported revenue of RM236.65 million alongside a profit after tax of RM36.61 million. Revenue streams were diversified, with RM91.79 million generated from proactive maintenance, RM50.19 million from corrective maintenance, and RM94.67 million from equipment sales. The company has cultivated enduring relationships with both aviation and defence-linked clients, underpinning its market position.
Dato’ Nonee Ashirin binti Dato’ Mohd Radzi, Managing Director and CEO, remarked on the milestone, stating, “We are honoured to have received Bursa Malaysia Securities Berhad’s approval for GTA’s proposed listing on the ACE Market. This marks an important milestone in our corporate journey and reflects the progress we have made in building a specialised aviation support business with strong technical capabilities, trusted customer relationships, and a clear growth strategy.”
Initial Public Offering and Strategic Plans
According to GTA’s exposure prospectus, the initial public offering (IPO) will consist of 329.0 million shares, comprising 205.0 million new shares and 124.0 million existing shares. This represents approximately 25.48% of the enlarged share capital totaling 1,291,347,300 shares. The public issue allocates 64.57 million shares to the Malaysian public, 12.91 million shares to eligible directors and employees, and 127.52 million shares through private placement to institutional and selected investors.
Proceeds from the IPO are designated to support several strategic initiatives, including the establishment of a new operating facility, expansion of helicopter MRO activities in the Middle East, entry into MRO services for landing gear, wheels, and brakes, as well as working capital requirements and listing-related expenses. The new facility is anticipated to enhance GTA’s technical capabilities, facilitate additional certifications, increase headcount, and enable new training programmes. Hong Leong Investment Bank Berhad has been appointed as Principal Adviser, Sponsor, Sole Underwriter, and Sole Placement Agent for the IPO.
Regulatory Environment and Industry Outlook
Looking ahead, GTA Holdings will need to navigate the challenges posed by stricter delisting regulations on the ACE Market, which now place greater emphasis on long-term corporate value and compliance rather than short-term share price performance. This regulatory shift is expected to increase market scrutiny and heighten the demand for robust corporate governance standards. As competitors also adapt to these changes, the aviation MRO industry may witness a broader transition towards sustainable growth strategies, with companies prioritising long-term value creation over immediate financial returns.

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