KUALA LUMPUR (Nov 3): Pertama Digital Bhd (KL:PERTAMA) has paid an additional earnest deposit of S$799,600, or RM3.26 million, to extend the deadline for completing its proposed acquisitions of 80% stakes in D-Ron Singapore Pte Ltd (D-Ron SG) and D-Ron Malaysia Sdn Bhd (D-Ron MY) to Dec 31, 2026.
In a filing with Bursa Malaysia, Pertama Digital said it signed a fifth supplemental letter on Oct 30, 2026, after reaching a further agreement with the vendors to amend the terms of the existing share sale and purchase agreements.
The vendors agreed to extend the deadline for Pertama Digital to pay the additional deposit from Sept 30 to Oct 30, 2026. The payment, which applies only to the D-Ron SG acquisition, was made by the revised deadline. No additional deposit was required for D-Ron MY.
Had Pertama Digital failed to make the payment, both acquisition agreements would have been terminated and the existing deposits forfeited to the respective vendors.
Before the latest payment, Pertama Digital had paid deposits of S$1.52 million for D-Ron SG and RM249,824 for D-Ron MY.
Pertama Digital is involved in mobile applications and payment gateway services, while the two D-Ron companies provide installation, maintenance and support services for surveillance and technology systems, as well as IT and surveillance hardware distribution.
The proposed acquisitions, first announced on June 20, 2025, involve a purchase price of S$30.41 million for an 80% stake in D-Ron SG and RM5 million for an 80% stake in D-Ron MY. The acquisitions will be funded through external borrowings and/or advances from shareholders.
MyPay Capital Sdn Bhd, an existing major shareholder of Pertama Digital, had received a letter from Vincaps Holdings Sdn Bhd on March 13, 2025, offering funding of up to RM150 million, subject to Bursa Malaysia's approval of Pertama Digital's regularisation plan.
MyPay Capital intends to use the funding to provide advances to Pertama Digital, which will use the money to finance the acquisitions. MyPay owns a 10.073% interest in Pertama Digital.
The acquisitions are part of Pertama Digital's efforts to rebuild its business and meet Bursa Malaysia's regularisation requirements after selling its major business in 2022.
Pertama Digital became an affected listed issuer in August 2022 after disposing of its textile business, Be Top Group Ltd, for RM70 million as part of its shift towards digital services. The disposal triggered Paragraph 8.03A of Bursa Malaysia's Main Market Listing Requirements, requiring the company to submit a regularisation plan.
On Feb 27, 2026, Pertama Digital proposed a share consolidation, private placement and rights issue with warrants as part of the plan. The proposals aim to strengthen its capital structure and raise funds. They are inter-conditional and remain subject to the necessary approvals.
Pertama Digital also triggered Practice Note 17 (PN17) status in July 2026 after its shareholders' equity fell below the threshold set by Bursa Malaysia.
Its audited financial statements for the year ended Dec 31, 2025, showed that consolidated shareholders' equity had fallen to 25% or less of its share capital and below RM40 million.
The regularisation plan submitted to the Securities Commission Malaysia includes the proposed acquisitions of D-Ron SG and D-Ron MY.
Separately, Pertama Digital has been in the news over eJamin, an online bail payment system used in 192 courts. The system is operated by Dapat Vista Sdn Bhd, which is 80% owned by Pertama Digital's 51%-owned subsidiary, Television Airtime Services Sdn Bhd.
eJamin recently attracted attention following reports that it had been operating since January 2020 without a formal agreement.
For the six months ended June 30, 2026, Pertama Digital recorded a net loss of RM797,000, compared with RM3.84 million a year earlier, due to lower revenue from its mobile and digital solutions business. At the end of June, Pertama Digital only had about RM276,000 in cash.