PETALING JAYA: Aircraft maintenance, repair and overhaul (MRO) services provider SIA Engineering Co Ltd (SIAEC) has signed a non-binding memorandum of understanding (MoU) with Khazanah Nasional Bhd wholly owned subsidiary, Impeccable Vintage Properties Sdn Bhd (IVP) to potentially lease two hangars at Complex A, Sultan Abdul Aziz Shah Airport, Selangor.
Through this MOU, the parties will now work on the next phase of hangar technical assessment to ensure that the refurbished hangars will be future-ready to support the MRO of current and next-generation aircraft.
SIAEC CEO Ng Chin Hwee said these hangars will strengthen its network of base maintenance facilities in the region, enabling it to cater to the varying needs and capabilities required by its customers.
“Along with our recently announced plans to acquire SR Technics Malaysia and POS Aviation Engineering Services, our growth in Malaysia will complement the capabilities of our Singapore hub.”
IVP general manager Fuad Sharuji said with a proven track record in MRO, SIAEC’s potential establishment in Subang, is well-positioned to bolster the thriving aerospace industry in support of the Malaysian government’s aspirations.
“The potential lease by SIAEC will be a significant milestone in the growth and progress of the MRO sector in Malaysia, and will serve as an avenue which would benefit the local MRO industry,” said Fuad.
Malaysian Investment Development Authority CEO Datuk Arham Abdul Rahman welcomed the MoU collaboration, stating that the formalisation of this MoU between SIAEC and IVP represents a positive step towards facilitating the expansion of a renowned aerospace company like SIAEC.
“This will boost the growth of Malaysia’s cost competitive aerospace ecosystem, as it has been identified as a new economic growth area within our National Investment Aspirations which focuses on high-impact and
technological investments. Malaysia will undoubtedly continue to be an ideal investment hub for aerospace companies looking to expand their presence in Asean and beyond, owing to our strategic location, business-friendly policies, and skilled workforce capable of meeting the industry’s growing demand as we enter the endemic phase of Covid-19.”
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2022-04-05 12:08:00Z
CBMiZ2h0dHBzOi8vd3d3LnRoZXN1bmRhaWx5Lm15L2J1c2luZXNzL3NpYS1lbmdpbmVlcmluZy1zaWducy1tb3UtZm9yLWhhbmdhci1mYWNpbGl0aWVzLWF0LXN1YmFuZy1DQzkwNDAwNzPSAQA
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