SIAEC acquires 49% stake in Pos Aviation Engineering Services

SIA Engineering Company (SIAEC) has completed 49% acquisition of the share capital of the Pos Aviation Engineering Services (PAES) for MYR4 million in cash. The value for the transaction was settled after lengthy negotiations on willing-buyer, willing-seller basis along with considering, inter alia, the net asset value and financial performance of PAES. Post acquisition, PAES will be an associated company of SIAEC, and PASB will hold the remaining 51% of the share capital of PAES. This acquisition expands SIAEC’s geographical presence to 36 stations in 8 countries, enabling it to serve an even broader customer base across multiple locations in