SIA Engineering Company (SIAEC) has signed a non-binding Memorandum of Understanding (MoU) with Impeccable Vintage Properties (IVP) to potentially lease two hangars located at Complex A, Sultan Abdul Aziz Shah Airport, Selangor, Malaysia.
Impeccable Vintage Properties is a wholly-owned subsidiary of Malaysia’s sovereign wealth fund Khazanah Nasional.
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.
“These hangars will strengthen our network of base maintenance facilities in the region, enabling us to cater to the varying needs and capabilities required by our customers,” said SIAEC’s chief executive officer Ng Chin Hwee. “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’s general manager Fuad Sharuji commented: “With a proven track record in MRO, SIAEC’s potential establishment in Subang, Malaysia, is well-positioned to further bolster the thriving aerospace industry in support of the government of Malaysia’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.”