SIA Engineering successfully acquired a 30% stake in Fujian Yuanchang Aircraft Engineering | Lianhe Zaobao
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SIA Engineering successfully acquired a 30% stake in Yuanxiang Aircraft Engineering, with a total subscription price of RMB 129 million (approximately SGD 23.72 million). The transaction will be conducted through SIA Engineering's wholly-owned subsidiary and an agreement has been reached with Yuanxiang Aircraft Engineering's parent company, Xiamen Xiangye Group, to establish a joint venture responsible for route maintenance and ground services at multiple airports. This transaction is expected to have no significant impact on SIA Engineering's financial condition
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