The company says that its entry into this lease agreement is a significant milestone that establishes its third base maintenance hub in the Asia-Pacific region.
SIA Engineering Company (SIAEC) (SGX:S59
) has announced that its wholly-owned subsidiary Base Maintenance Malaysia has entered into an 15-year agreement with Impeccable Vintage Properties (IVP) for the lease of two hangars at Sultan Abdul Aziz Shah Airport in Selangor, Malaysia, with an option to renew for a further term of 15 years.
SIAEC had previously signed a non-binding memorandum of understanding (MOU) with IVP, a wholly-owned subsidiary of Malaysia’s sovereign wealth fund Khazanah Nasional Berhad, on April 5, 2022 for the potential lease of the hangars.
