📋 Tender Overview
Tribo received growth capital injection from HPS Investment Partners, accelerating the layout of asset-light model and further deepening cross-border e-commerce logistics services in global core markets
Kuala Lumpur, Malaysia, January 22, 2026 - Teleport announced today that it has signed a subscription agreement with a fund managed by HPS Investment Partners (HPS), the worlds leading alternative investment institution, to raise US$50 million through the issuance of Redeemable Convertible Permanent Securities (RCPS) as pre-IPO stage growth funds. Tribo, the aviation logistics subsidiary of Capital A Berhad (Capital A), has a pre-investment valuation of US$500 million (approximately Malaysian Ringgit 2.03 billion). This fundraising will accelerate the global expansion of its unique cross-border e-commerce format, help optimize its balance sheet and expand its network with core airlines, laying a solid foundation for its subsequent listing. Since its establishment in 2018, Tribo has raised approximately US$109 million in total funding. The latest valuation of Tribo by the worlds top investment institutions is also a high recognition of the eight-year incubation strategy of Capital A and AirAsia. The continued increase in institutional confidence has verified that Tribo, as a comprehensive air transport expert in cross-border e-commerce in Southeast Asia, has a mature business model with mature business closed loop and sustainable growth capabilities. Asset-light aviation network creates market leadership Since its establishment, Teleport has continued to expand its infrastructure and built the Teleport Network with an asset-light model. Based on cargo volume, Teleport Network has now ranked first in Southeast Asia, ninth in Asia, and thirteenth in the world. Relying on its unique asset-light network model, Tribos services cover more than 80 countries in the Asia-Pacific and other regions, with direct point-to-point routes in more than 290 cities, linking more than 50 partner airlines, achieving efficient access from core hubs to regional markets, and building the marginal cost advantage of cross-border e-commerce logistics; and through technology-driven optimization of the entire link from first-leg collection to last-mile delivery, Telebo systematically achieves faster, more stable and more efficient delivery. Tribo CEO, Pete Chareonwongsak said: We are pleased to welcome HPS to join the companys next stage of development, helping us replicate the unique asset-light model specifically for cross-border e-commerce on a large scale, and deepen the layout of high-growth cross-border e-commerce logistics channels in China, other parts of Asia, the Middle East and the wider region. Thank HPS for its trust and confidence in Tribo and choosing to invest in Tribo He added: I would like to express my most sincere gratitude to the 729 Teleporters who have worked hard over the past eight years. We have broken through many industry conventions and embarked on a development path unique to Teleport. Although the process is full of challenges, the team has always adhered to the original intention and worked closely with Capital. The AllStars partner team within the A ecosystem, especially AirAsia, ADE and GTR, are the core pillars of Tribos operations and development, fully demonstrating Capital As success. The synergy of the ecosystem. Tribos business model has been verified multiple times and has always led the industry. The total potential size (TAM) of the air cargo and cross-border e-commerce market in China and Southeast Asia reaches US$28 billion, and Tribo only accounts for 1% of the market share, which means huge growth potential and opportunities in Capitals future. With the continued trust and support of AirAsia, all shareholders, investors and partner airlines, we will continue to uphold this resilience and adhere to the concept of collaboration and win-win to provide faster, more stable and more efficient logistics services to global customers. Capital A Group CEO, Tony Fernandes said: This investment fully confirms our strategy and innovation path. I am deeply excited to witness that Tribo has developed into a leading aviation logistics service provider in the world and has become a leading player in Asia. With the consistent support and belief in Tribo over the past eight years, this major round of financing has been successfully completed. This is of great value to AirAsia. As its exclusive partner, Tribo will help maximize the bellyhold capacity and route network utilization. After this valuation update, it will create an unrealized return of more than 100 times for Capital A and lay a solid foundation for the IPO of Tribo. This is undoubtedly a win-win for our shareholders, which will not only reap huge returns, but this successful strategy will also be used by Capital. Continue to advance within the A ecosystem. The completion of this RCPS issuance by Tribo is subject to the fulfillment or exemption of the conditions precedent contained in the Subscription Agreement and compliance with the terms and conditions set out in the Agreement. BNP Paribas and Milbank served as Tribos financial advisor and legal advisor respectively, while Latham & Watkins served as HPS Investment Partners legal advisor.
Chinese, Global, Malaysia, News, TeleportSyahira Binti Zakaria -January 22, 2026
