News

Aviation

Staff Reporter

, Singapore

Published:

3 months ago

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(From left to right): Mr Ren Huai Jun, General Manager of Arport Fuzhou; Mr Wong Yue Jeen, Chief Commercial Officer of SIA Engineering Company; Mr Chin Yau Seng, Chief Executive Officer of SIA Engineering Company; Mr Tang Kin Fei, Chairman of SIA Engineering Company; Mr Zhou Xiao Gang, General Manager of IPORT Group; Ms Lin Li Qun, Deputy General Manager of IPORT Group; Mr Lin Shuang Zhi, General Manager of Arport Xiamen; and Mr Zhuang Jia Ren, General Manager of Arport AME; during the signing ceremony between SIAEC Engineering Company and IPORT Group Companies.

SIAEC buys 30% stake in Fujian MRO JV in $23.8m deal

The valuation places Arport AME assets at $7.46m.

SIA Engineering Company Limited (SIAEC) has agreed to acquire a 30% stake in Arport Aircraft Maintenance & Engineering (Fujian) (AME) and form a Maintenance, Repair and Overhaul (MRO) joint venture in Fujian, China.

SIAEC Global Private Limited, its wholly owned subsidiary, secured the stake on 10 March 2026 for about $23.87m (RMB129m), according to a press release.

The transaction values Arport AME’s net tangible assets at around $7.46m (RMB40.3m) as of 31 December 2024.

Following the investment, the pro‑forma enlarged net tangible assets will total approximately $31.30m (RMB169.3m), with $9.40m (RMB50.8m) attributable to SIAEC’s 30% share.

The agreements follow SIAEC’s earlier non‑binding announcements on 4 September 2023 and 12 November 2024 exploring MRO opportunities in Fujian.

The deal is subject to regulatory approvals and other conditions precedent. SIAEC said the transaction is not expected to materially affect net tangible assets per share or earnings per share for the financial year ending 31 March 2026.

None of SIAEC’s directors or controlling shareholders has any interest in the transaction beyond existing shareholdings, the press release said.

(SG$1 = RMB5.39)

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