SIA Engineering Company Unit Signs Lease Agreement for Hangar Facilities in Subang, Malaysia

SIA Engineering has released an update that Base Maintenance Malaysia, a wholly- owned subsidiary of the company, has entered into an agreement with IVP for the lease of the two hangars located within Complex A of Sultan Abdul Aziz Airport in Subang for a period of 15 years, with an option to renew for a further term of 15 years. The entry into this lease agreement is a significant milestone for SIAEC as it establishes the company’s third base maintenance hub in the Asia-Pacific region. The addition of the Subang hangars, each being able to accommodate two wide-body aircraft, will boost SIAEC’s airframe check capacity in providing comprehensive maintenance, repair and overhaul of current and next-generation aircraft for SIAEC’s expanding portfolio of airline customers.

Chin Yau Seng, CEO of SIAEC said, “We believe that our investment in the Subang hangars complements our component and line maintenance joint ventures in Malaysia, allowing us to augment our extensive MRO offerings to our customers globally. With the expansion of our MRO network, this will further solidify our position as a leading provider of MRO services.”

Fuad Sharuji, CEO of IVP said, “With a proven track record in MRO business, SIAEC’s establishment in Subang, Malaysia, will further bolster the thriving growth of Malaysia’s aerospace industry in support of the Government of Malaysia’s aspirations to position Malaysia as a leading aerospace hub in Southeast Asia and also in line with the Selangor Aerospace Action Plan 2020-2030, Malaysian Aerospace Industry Blueprint 2030 and 12th Malaysia Plan. The lease of the two wide-body hangars to SIAEC will further serve to benefit the local MRO industry and contribute to the Technical and Vocational Education and
Training (TVET) program of the local aviation institutions.”

Datuk Wira Arham Abdul Rahman, CEO of the Malaysian Investment Development Authority added, “The formalization of this lease agreement between SIAEC and IVPunderscores a robust commitment from a prominent global aerospace MRO company like SIAEC to establish roots in Malaysia. It stands as a testament to the nation’s competitive edge in the aerospace ecosystem. SIAEC’s reputation in delivering comprehensive MRO solutions will contribute to bolstering Malaysia’s aerospace sector, establishing the nation as an ideal investment hub for aerospace companies seeking expansion within ASEAN and beyond.”