SIA Engineering acquires 49% stake in PAES for $3.38m

PAES’ stations will complement SIAEC’s network of line maintenance international stations.

SIA Engineering Company (SIAEC) has entered into an agreement with Malaysian aviation services company Pos Aviation to acquire a 49% stake in Pos Aviation Engineering Services (PAES), according to a press release. The indicative consideration for the acquisition is $3.38m (MYR 10.09m).

Pos Aviation will retain the remaining 51% stake.

PAES has operations in Kuala Lumpur International Airport and nine other stations in Malaysia. Its stations will complement SIAEC’s existing network of line maintenance international stations, which will grow to 46 airports in nine countries including Singapore.