SIA Engineering Company (SIAEC) has signed a non-binding Memorandum of Understanding with Impeccable Vintage Properties (IVP), a wholly-owned subsidiary of Malaysia’s sovereign wealth fund Khazanah Nasional Berhad, to potentially lease two hangars at Sultan Abdul Aziz Shah Airport, Selangor, Malaysia (Subang).
The lease with IVP is for two hangars located within Complex A of Sultan Abdul Aziz Airport in Subang for a period of 15 years, with an option to renew for a further term of 15 years.
The addition of the Subang Hangars, each being able to accommodate two wide-body aircraft, will boost SIAEC’s airframe check capacity in providing comprehensive MRO of current and next-generation aircraft for SIAEC’s expanding portfolio of airline customers.
“We believe that our investment in the Subang hangars complements our component and line maintenance joint ventures in Malaysia, allowing us to augment our extensive MRO offerings to our customers globally,” said Chin Yau Seng, Chief Executive Officer of SIAEC. “With the expansion of our MRO network, this will further solidify our position as a leading provider of MRO services.”
“With a proven track record in MRO business, SIAEC’s establishment in Subang, Malaysia, will further bolster the thriving growth of Malaysia’s aerospace industry in support of the Government of Malaysia’s aspirations to position Malaysia as a leading aerospace hub in Southeast Asia and also in line with the Selangor Aerospace Action Plan 2020-2030, Malaysian Aerospace Industry Blueprint 2030 and 12th Malaysia Plan,” said Fuad Sharuji, Chief Executive Officer of IVP. “The lease of the two wide-body hangars to SIAEC will further serve to benefit the local MRO industry and contribute to the Technical and Vocational Education and Training (TVET) program of the local aviation institutions.”
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