SIAEC to acquire aircraft service firm SRT Malaysia

SIA Engineering Company Limited (SIAEC) has entered into a memorandum of understanding with SR Technics Switzerland AG for the potential acquisition of its Malaysian subsidiary SRT Malaysia.

The MOU was reached following a review of the synergies that SRT Malaysia would bring to SIAEC’s existing component repair and overhaul services and fleet management programs.

According to SIAEC, both parties are in negotiations on the terms of the acquisition. The transaction is not expected to have a material impact on the net tangible assets per share or the earnings per share of the SIAEC Group in FY2020/2021.Read more