SIA Engineering Company has entered into a Memorandum of Understanding (MoU) with SR Technics for the potential acquisition of SRT Malaysia, in part or in whole.

SRT Malaysia is a subsidiary of SR Technics located in Selangor, Malaysia. It was incorporated in January 2013 to provide component repair, testing and overhaul services with a focus on the Airbus A320, A330, A340 and the Boeing 737NG.

SIA Engineering said it had conducted a review of the synergies that SRT Malaysia would bring to its existing component repair and overhaul services and fleet management programmes.

The company will now commence due diligence on SRT Malaysia and enter into negotiations with SR Technics on the terms of the transaction.

There is no certainty that any definitive agreements will be entered into by the parties.