Singapore-based MRO provider SIA Engineering Company (SIAEC) has successfully secured a 30% stake in Arport Aircraft Maintenance & Engineering (Fujian) Co., Ltd. (Arport AME) as part of a new joint venture with Xiamen Iport Group Co., Ltd (IPORT Group).
The investment follows a previous announcement in November 2024 regarding a non-binding framework agreement between the two companies.
SIAEC said its wholly owned subsidiary, SIAEC Global Private Limited (SIAEC Global), won the stake through a public tender administered by the Xiamen Equity Exchange Centre.
The subscription consideration for the 30% shareholding in the enlarged capital of Arport AME is announced as RMB129 million.
Under the planned structure, SIAEC Global will enter into agreements with the direct shareholders of Arport AME to complete the transaction and formally establish a joint venture MRO operation.
The new venture is intended to support line maintenance and ground services across multiple airports in Fujian province, including Xiamen, Fuzhou, Wuyishan and Longyan, while also providing base maintenance services at Xiamen airport.
SIAEC said the transaction is not expected to have a material impact on the company’s net tangible assets per share or earnings per share for the financial year ending March 31, 2026.
The company also confirmed that none of its directors or controlling shareholders have any direct or indirect interest in the transaction other than through their existing shareholdings in SIAEC.
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