Jamco Singapore was a 20:75:5 joint venture between SIA EC, Jamco and Itochu Corporation. It is based in Singapore and manufactures aircraft galleys, seats and cabin parts.
SINGAPORE (Jan 30): SIA Engineering Company (SIA EC) has sold its entire 20% stake in Jamco Singapore, to the latter’s majority owner Jamco Corporation for $3.97 million in cash, representing a 43% premium to net value.
Based on the JV’s audited financial statement for FY18, the net asset value of shares disposed of by SIA EC is $2.77 million.
