KUALA LUMPUR (March 11): Teleport, the logistics arm of Capital A Bhd (KL:CAPITALA), said it is actively seeking funds from private investors to boost its finances for expansion before embarking on an initial public offering (IPO).

“We will do one private fundraising before an IPO,” said Teleport chief executive officer Pete Chareonwongsak at a media briefing on Tuesday. “If we do that, that means, you know, we are closer to our goal of a public company.”

Neither the amount for the fundraising nor the IPO timeline was disclosed. Chareonwongsak said that the company is focused on achieving the necessary scale and financial performance to support its successful listing.

Teleport, which contributed about one-third to Capital A’s non-aviation revenue in 2024, had previously secured a US$50 million (RM220 million) credit facility in 2023. Teleport is present across Malaysia, Thailand, Indonesia, Philippines, India, Singapore and China.

The company has partnerships with 40 carriers, including VietJet Air, Etihad Airways, Emirates, Garuda Indonesia and Air New Zealand.

Teleport is targeting a fivefold jump in daily parcel delivery this year, Chareonwongsak said.

“As we enter 2025, we are aggressively scaling towards our publicised target of delivering two million parcels a day” from the current 368,000 parcels a day, he said.

The company also plans to enter the European market by the fourth quarter of 2025 using its presence in the Middle East and Southeast Asia as a gateway, Chareonwongsak added.

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