SIA Engineering Company (SIAEC) has signed a lease agreement for hangar facilities in Subang, Malaysia with Impeccable Vintage Properties (IVP). The agreement focuses on the lease of two hangar facilities at Sultan Abdul Aziz Shah Airport in Selangor, Malaysia.
The hangars have been signed on a 15-year lease with an option to renew for an additional 15 years. This follows SIAEC’s initially highlighting an unbinding memorandum of understanding with IVP for the potential lease of the hangars in April, 2022.
The Subang hangars, with a combined capacity to simultaneously accommodate six aircraft checks, represent a key addition to SIAEC's capabilities in providing comprehensive MRO services for both current and next-generation aircraft.
SIAEC CEO Chin Yau Seng 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.”