Malaysia continues to be ideal aerospace investment hub
10 Apr 2022
Malaysia’s aviation maintenance repair and overhaul (MRO) sector is in for a boost.
This is following Singapore Airlines Engineering Co Ltd (SIAEC) signing of a non-binding Memorandum of Understanding (MOU) with Impeccable Vintage Properties Sdn Bhd (IVP) for plans to lease two hangars at Complex A, Sultan Abdul Aziz Shah Airport (SAASA) in Subang.
IVP is a wholly-owned subsidiary of Khazanah Nasional Berhad (KNB).
Under the MOU, IVP and SIAEC will work on the next phase of hangar technical assessment to ensure that the refurbished hangars will be ready to support the MRO capabilities of current and next-generation aircraft.
These hangars will strengthen SIAEC’s base of maintenance facilities in the region enabling the company to cater to the varying needs of its customers.
SIAEC has plans to acquire SR Technics Malaysia and POs Aviation Engineering Services. With the acquisition, SIAEC’s growth in Malaysia will complement the capabilities of the company’s hub in Singapore.
With capabilities including heavy maintenance in airframe and engine, stripping-and-painting, and passenger-to-freighter-conversion, Malaysia is well-positioned to boost further its thriving aerospace industry in support of the government’s aspirations.
The potential lease by SIAEC will be a significant milestone in the growth development and progress of the MRO sector in Malaysia.
The formalisation of the MOU will boost the growth of Malaysia’s cost-competitive aerospace ecosystem, as it has been identified as a new economic growth area within the country’s National Investment Aspirations which focuses on high-impact and technological investments.
Due to Malaysia’s strategic location, it will continue to be an ideal investment hub for aerospace companies looking to expand in Asean and beyond.
SIAEC has a client base of more than 80 international carriers and aerospace equipment manufacturers.
The company has 22 subsidiaries and joint ventures with original equipment manufacturers and partners in several countries.
Subang Jaya, Selangor
The views expressed in this article are the author’s own and do not necessarily reflect those of the New Straits Times