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March 2018

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SIA Engineering Company Limited (SIAEC) and GE Aviation have announced that they will be signing a joint venture agreement to form a joint venture for GE90 and GE9X engine overhaul based in Singapore. This follows the first announcement of the proposed partnership on 20 June 2017. Under the agreement, GE will hold a 51% equity stake in the joint venture, with SIAEC holding the remaining 49%. The agreement is subject to regulatory approvals being obtained in the relevant jurisdictions. The joint venture will leverage best practices from GE’s ‘Brilliant Factory’ concepts, combining advanced technologies and lean practices with digitisation and data analytics to enhance productivity.

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ST Aerospace has signed a definitive agreement to divest a 5% equity stake in ST Aerospace (Guangzhou) Aviation Services, a joint venture with Guangdong Airport Authority, to Japan Airlines for a consideration of $7 million. The consideration was arrived at taking into account STA Guangzhou’s current performance, net asset value and growth potential in the fast growing Baiyun International Airport. Upon completion, which is subject to customary closing conditions, ST Aerospace and Guangdong Airport Authority will each own 44% and 51% stakes respectively in STA Guangzhou, while Japan Airlines will become a strategic partner of the joint venture with a 5% stake.

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