SIA Engineering Company agree JV with Air Innovation Korea

Singapore-listed SIA Engineering Company Limited (SIAEC) has entered into a JV agreement with Air Innovation Korea o form a line maintenance joint venture based in the Republic of Korea.  Under the agreement, SIAEC will hold an equity stake of 51% in the Joint Venture, with AIK taking the remaining 49% stake. The agreement and services to be provided are subject to the receipt of regulatory approvals.  The Joint Venture company will have an initial registration capital of KRW 4,772,000,000, or approximately S$5,525,212. SIAEC will subscribe for KRW 2,433,720,000, or approximately S$2,817,858, in cash and AIK will subscribe for KRW 2,338,280,000,