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SIA Engineering
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martin_shah
Member |
18-Feb-2023 09:39
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The bigger picture is that SIAEC was taken off the pandemic life support (not that it badly needed one to begin with) and managed to fly to the tune of $12.8 million profits (compare this to SATS' horrible $0.5mil) on the back of a $208 million revenue, a 49% jump yoy. Given that air traffic is only 70% prepandemic level, it is on the right trajectory to soar higher. This is a company with a healthy cash balance of $600++ million, debt of only around $70mil whose JV' s are also turning in profits. This is why SIAEC is trading houses' favourite aviation counter. |
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Adrianinsing
Elite |
18-Feb-2023 06:26
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Horrible results just announced Net profit for the three months fell to S$12.8 million, down 61.4 per cent from S$33.2 million in the corresponding period a year earlier. On a per-share basis, earnings fell to S$0.0114 in Q3 FY23, from S$0.0296 in Q3 FY22. The lower net profit came amid higher group expenditure, mainly due to the absence of wage support. SIAEC said in its business update on the Singapore Exchange that this was the first quarter since the pandemic with no wage support. |
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Joelton
Supreme |
02-Nov-2022 09:00
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SIA Engineering Q2 net profit up 87.6% to S$19.7m from stepped-up flight activities
SIA Engineering Company (SIAEC) posted a group net profit of S$19.7 million for its second quarter ended Sep 30, up 87.6 per cent from S$10.5 million in the same period last year, it said in a bourse filing on Tuesday (Nov 1).
Revenue for the quarter rose 38 per cent to S$190.7 million, up from S$138.2 million the year before, largely driven by higher flight activities and higher revenue across all segments, it said.
This took SIAEC&rsquo s basic earnings per share to 1.75 Singapore cents for the quarter, up from 0.94 cents the year before.
However, the group will not be declaring an interim dividend due to &ldquo operating losses and uncertainties in macroeconomic conditions&rdquo , it added. It posted an operating loss of S$6.8 million for the quarter, a deterioration of S$3 million from a loss of S$3.8 million in the year before.
Expenditure rose 39.1 per cent to S$197.5 million for the quarter due to lower government wage support, higher manpower costs and material costs, the group said, adding that revenue growth was not sufficient to offset the increase in expenditure.
SIAEC&rsquo s second-quarter figures brought its first-half net profit to S$32.5 million, up 30 per cent from S$25 million the year before.
The number of flights handled by SIAEC&rsquo s line maintenance unit in Singapore doubled year on year in the first half &ndash representing approximately 55 per cent of pre-pandemic volume &ndash as a result of Singapore removing most of its remaining travel restrictions, the group noted.
Maintenance, repair and operations services also rose in demand due to the increase in flight activities, as operators look to return grounded aircraft back to service, SIAEC said. It added that base maintenance secured new customers and a long-term contract during the period.
Work volume at engine and component shops was also higher, with &ldquo healthy improvement&rdquo in inductions. Inventory technical management services supported a larger fleet size due to a new contract secured and fleet growth of customer airlines, the group added.
&ldquo While recovery of the aviation industry continues to gain traction, the outlook is uncertain due to an elevated risk of a global recession and geopolitical tensions. In addition, high inflation, wage pressure and cessation of wage support will pose challenges,&rdquo said SIAEC, adding that the group will &ldquo maintain vigilance and nimbleness&rdquo in managing costs.
Along with its transformation efforts, the group said it will seize opportunities to broaden its customer base, develop new capabilities and expand its geographical presence through acquisitions and partnerships to achieve sustainable business growth.
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spursfan
Supreme |
01-Nov-2022 19:59
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SIA ENGINEERING GROUP POSTS PROFIT OF $32.5M FOR 1st HALF FY2022-23 GROUP EARNINGS First Half FY2022-23 The Group recorded revenue of $362.2 million for the first half of the financial year ended 30 September 2022, an improvement of $98.7 million (+37.5%) year-on-year, largely driven by the increase in flight activities and all segments recorded higher revenue. Group expenditure increased at a higher rate of 38.0% ($102.8 million) to $373.0 million year-on-year mainly due to the stepping down of government wage support. Excluding wage support, expenditure increase was 21.2%, with manpower costs and material costs rising in tandem with higher business activities. As revenue growth was not sufficient to offset the increase in expenditure, the Group incurred a higher operating loss of $10.8 million as compared to the operating loss of $6.7 million in the same period last year. Excluding wage support, operating performance improved $31.5 million. Share of profits of associated and joint venture companies was $41.4 million. This was $14.6 million (+54.5%) higher year-on-year due to - $9.4 million (+29.1%) increase in contribution from the engine and component segment arising from increase in work input, and - $5.2 million (+94.5%) improvement from the airframe and line maintenance segment. The Group?s net profit for the first half ended 30 September 2022 was $32.5 million, an improvement of $7.5 million year-on-year. Excluding wage support, Group profit was $21.4 million. Basic earnings per share for the first half of the financial year ended 30 September 2022 was 2.89 cents..... https://links.sgx.com/1.0.0/corporate-announcements/QWVKLAPSWBDXU3VP/737251_SIAENGCO1H2223NewsRelease-SGX.pdf |
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Joelton
Supreme |
13-Oct-2022 09:46
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SIA Engineering extends maintenance agreement with Hawaiian Airlines, inks new deal with MYAirline
MAINBOARD-LISTED SIA Engineering Co (SIAEC) : S59 -1.38% announced in a bourse filing early on Wednesday (Oct 12) the extension of its partnership with Hawaiian Airlines to provide airframe maintenance services for the airline&rsquo s A330-200 aircraft.
Separately, the aircraft maintenance, repair and overhaul service provider said that it signed a 10-year agreement with Malaysian low-cost carrier MYAirline to provide support services for the latter&rsquo s fleet of Airbus A320 aircraft.
The deals are not expected to have a material impact on the group&rsquo s earnings per share or net tangible assets per share for the year to Mar 31, 2023.
Under the new agreement with Hawaiian Airlines, SIAEC will perform checks on 11 of the airline&rsquo s aircraft into 2027. Maintenance services will be undertaken by the group at its facility in Singapore.
Based in Honolulu, Hawaiian Airlines currently operates a fleet of 24 A330-200 aircraft, serving 13 gateway cities in the United States and nine destinations throughout Asia and South Pacific.
&ldquo This signing signifies the confidence that Hawaiian Airlines has in SIAEC&rsquo s technical strengths and capabilities,&rdquo said the group&rsquo s senior vice-president of base maintenance services Jeremy Yew. &ldquo We will continue to deliver best-in-class on-time performance&hellip and provide quality services and strong engineering support to our customers.&rdquo
Meanwhile, under SIAEC&rsquo s new agreement with MYAirline, the group will provide component support coverage for aircraft and engine spares as well as repair and overhaul support services for the airline&rsquo s fleet of Airbus A320 aircraft.
SIAEC executive vice-president of operations and chief sustainability officer Foo Kean Shuh said that the agreement, which has an option to extend for another two years, together with the group&rsquo s network of manufacturing partners and their recently acquired component shop SR Technics Malaysia, will provide the &ldquo highest levels of component support&rdquo to propel the airline&rsquo s growth.
Stuart Cross, chief operating officer of MYAirline, added: &ldquo Having the weight and experience of SIAEC behind us strengthens (our) reach as the industry continues to recover from the pandemic.&rdquo
&ldquo As a new player in the industry, we look forward to SIAEC supporting our aggressive growth plans.&rdquo
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Chimpanzee
Member |
25-Jul-2022 23:59
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not exciting news... closing more and more ventures.. not an aviation expert, but feel their m& a strategy needs a rethink, looking at how st aerospace is doing... hopefully sthg more exciting.. SIAEC and Boeing Singapore JV to cease operationsShares in SIAEC closed flat at $2.43 on July 19. Boeing Asia Pacific Aviation Services Pte Ltd (BAPAS), a joint venture between SIA Engineering Company (SIAEC) and Boeing Singapore, will be ceasing operations in August. The JV is 49%-owned by SIAEC while the remaining 51% is owned by Boeing Singapore. The decision comes after shareholders have mutually agreed to do so after challenges arising from the changing business environment. BAPAS was incorporated in Singapore in October 2015 to provide fleet management services for airline operators of the 737, 747, 777 and 787 in the region. The cessation is not expected to have a material impact on SIAEC&rsquo s net tangible assets (NTA) per share or earnings per share (EPS) for the FY2022/2023. Shares in SIAEC closed flat at $2.43 on July 19. |
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pnuklis
Master |
14-Jun-2022 16:28
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Sitting on a pile of cash and no Debt and is well poised for recovery as more planes come out to fly. Will see strong growth | ||
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ck79sg
Member |
04-Apr-2022 12:29
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Finally, SIA Engineering approaching TP..... | ||
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Joelton
Supreme |
19-Jan-2022 09:40
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SIA Engineering inks 10-year maintenance deal with Rolls-Royce
MAINBOARD-LISTED SIA Engineering Co (SIAEC) SIA Engineering: S59 -0.91% has signed a 10-year line maintenance and in-field service agreement with Rolls-Royce, the aircraft maintenance, repair and overhaul service provider said in a bourse filing on Tuesday (Jan 17).
The deal is not expected to have a material impact on the group' s earnings per share or net tangible assets per share for the year to Mar 31, 2022.
Under the new agreement, SIAEC will provide in-field services for Rolls-Royce customers in Singapore, such as its parent company Singapore Airlines. It extends an ongoing on-wing care services arrangement with Rolls-Royce, and will include new capabilities for the Trent 7000 and Trent XWB engines.
" These new capabilities will strengthen the scope of SIAEC' s engine services in support of its original equipment manufacturer partners and airline customers," SIAEC said in its statement.
Chief executive Ng Chin Hwee added that the transaction marks continued growth in engine maintenance, repair and overhaul services within the newly launched engine services division that was announced by SIAEC in February 2021.
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spursfan
Supreme |
18-Jan-2022 18:02
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SIA Engineering Company Signs Line Maintenance and In-Field Services Agreement with Rolls-Royce- SINGAPORE, 18 January 2022 ? Mainboard-listed SIA Engineering Company Limited (SIAEC) is pleased to announce that it has signed a 10-year agreement with Rolls-Royce PLC to provide line maintenance and in-field services for Rolls-Royce Trent 7000, 1000, 900, 800, 700, 500 and XWB engines. SIAEC will provide in-field services at its facilities for Rolls-Royce customers in Singapore including Singapore Airlines, supported by solutions through its global line maintenance network... https://links.sgx.com/1.0.0/corporate-announcements/DJO1F4K82U5WFFPB/697915_SGXNET-2022_01_18%20LM%20In-Field%20Services%20Agreement%20with%20RR.pdf | ||
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Joelton
Supreme |
06-Dec-2021 10:38
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ST Engineering eyes S$11b topline in 2026 with cutting edge technologies
It plans to bump up spending on technologies to more than 75% of its R& D budget in the next 5 years, from 50-60% now.
SINGAPORE Technologies Engineering is ramping up its spending on cutting edge digital technologies in a bid to achieve a top line of more than S11 billion in 2026.
The defence and engineering group intends to bump up its spending on technologies to more than 75 per cent of its research and development (R& D) budget in the next 5 years, from 50-60 per cent now, said Lee Shiang Long, group chief technology and digital officer.
Eight focus areas have been identified including cybersecurity, smart traffic management and neuromorphic computing. The technologies developed will be adopted for its commercial and defence businesses in the aerospace, smart city, and public security domains to generate enhanced solutions and new capabilities to meet fast-evolving market needs and customer demands.
ST Engineering earmarks 4-5 per cent of revenue each year for R& D, said Dr Lee. For the financial year 2020, the group generated a revenue of S$7.2 billion some S$360 million was set aside for R& D. It is aiming to achieve a top line of more than S$11 billion in 2026. Of this, the commercial aerospace segment is expected to rake in more than S$3.5 billion, while its smart city solutions will more than double to S$3.5 billion. Sustainability-linked businesses that cut across all segments is seen generating more than S$3 billion.
Laser-focused
To achieve this ambition, ST Engineering is laser-focused on leveraging R& D to drive business outcomes. Such outcomes may be visible and definable taking the form of specific products and solutions, while others are less visible but help differentiate ST Engineering' s products from its competitors' , stated Dr Lee.
However, the business outcome must be one that is clear, otherwise ST Engineering would not undertake the project. The group is also open to tapping the expertise of researchers in universities and agencies for some projects.
It is, for instance, collaborating with the academia from the Agency for Science, Technology and Research (A*Star), National University of Singapore, Nanyang Technological University and Singapore University of Technology and Design to help expedite research works for commercialisation.
Called Research Translation @ ST Engineering, the partner researchers and the mainboard-listed group' s technology and engineering teams would work on customer-centric product R& D with the objective to fast track research projects for real-world implementation.
Under the tie-up, ST Engineering will provide at its premises the testing of system performance, reliability and safety.
The 5-year partnership will see the engineering group pump in S$60 million and have some 200 of its scientists and engineers work with up to 100 researchers. It has a target to work on 20 to 30 research projects at any one time.
The investment is on top of the annual budget for R& D, said the 56-year-old Dr Lee who was formerly from A*Star.
One of the projects ST Engineering is working on under the programme is to develop by 2023 quantum-resilient encryptors that will provide extra layers of security to thwart hacking and protect valuable information and assets.
Dr Lee noted that classical encryption keys are being used to safeguard information and assets like those used in automated teller machines or online transactions. However, there have been reports of breaches, and when new quantum computers with improved processing speeds become readily available, the computers can easily decrypt classical encryptions.
" Everybody' s very nervous about this and we know that quantum computers will come soon. So therefore, we need to protect our network using (the) new method," Dr Lee said.
Quantum cryptography can be used to mitigate the threat. This capability is critical to secure data for government networks and critical infrastructures like power stations, water distribution and transportation networks.
ST Engineering is also working to develop technology solutions that leverage neuromorphic computing to process information more quickly, flexibly and broadly, yet uses less energy than traditional computer microprocessors.
Dr Lee said that one of the initial applications is to power high quality video analytics for automatic detection of flying objects such as unmanned aerial vehicles (drones) for surveillance and defence systems to enhance the safety and security of public spaces or events such as National Day Parade or Formula One race.
The new capabilities that ST Engineering builds up over time may not all produce fruit instantly as different time horizons are involved.
Dr Lee illustrated how ST Engineering has benefited from its investment of more than 200 million euros in Airbus A330 and A320 passenger-to-freighter conversion capability between 2012 and 2014. It is now the only global house that offers Airbus freighter conversion using data from the French planemaker.
Demand for passenger-to-freighter has taken off with a bang after the pandemic hit, as freight space from bellyhold evaporated with grounded passenger fleets.
ST Engineering has over 140 passenger planes on order for its Airbus freighter conversion programme, with the slots for A330 freighter conversion and those for A320/A321 booked through mid-2025 and mid-2024, respectively.
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Joelton
Supreme |
06-Dec-2021 10:37
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SIAEC signs 10-year agreement to provide test services for Safran' s CFM LEAP engines
SIA Engineering Company (SIAEC) has signed a 10-year agreement with Safran Aircraft Engines (SAE) to provide engine test services for the CFM LEAP-1A and -1B engines.
In a bourse filing on Dec 4, SIAEC said it will provide the engine test services at its engine test facility, which will be upgraded with the latest data acquisition and control system from Safran Test Cells.
This is an expansion of SIAEC' s existing engine maintenance services agreement with SAE to provide engine on-site support, quick turn and boroscope inspection services for the CFM LEAP-1A and -1B engines.
SIAEC said the addition of the engine test capabilities and services will strengthen the scope of maintenance, repair and overhaul (MRO) services that it provides to its original equipment manufacturer (OEM) partners and airline customers.
" The addition of the engine test capabilities for CFM LEAP-1A and -1B engines is a step forward in the growth of our engine MRO services under our Engine Services Division (ESD), which was established earlier this year," said SIAEC chief executive officer Ng Chin Hwee.
" Through ESD, SIAEC is well-poised to increase value to our OEM partners and airline customers, as well as enhance our integration across the engine MRO value chain," he added.
SAE chief executive officer Jean-Paul Alary said: " We are delighted to support SIAEC in the development of its capabilities for the LEAP engine. It will enhance the expertise that SIAEC is bringing since the LEAP' s entry into service in 2016 to better optimise our customer operations while reducing the environmental footprint."
SIAEC said the transaction is not expected to have a material impact on the group' s earnings per share or net tangible assets per share for the financial year ending Mar 31, 2022.
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spursfan
Supreme |
04-Dec-2021 09:31
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SIA Engineering Company Signs CFM LEAP Engine Test Agreement with Safran Aircraft Engines SINGAPORE, 4 DECEMBER 2021 &ndash Mainboard-listed SIA Engineering Company Limited (&ldquo SIAEC&rdquo ) is pleased to announce that it has signed a 10-year agreement with Safran Aircraft Engines (&ldquo SAE&rdquo ) to provide engine test services for the CFM LEAP-1A and -1B engines.... https://links.sgx.com/1.0.0/corporate-announcements/KNACUOPSBDDK66Y7/693268_SGXNet-2021_12_04%20Safran%20Engine%20Test.pdf |
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Bigprofit
Member |
09-Nov-2021 12:54
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Good to see Co explore business outside its traditional business. Co has the finances to go for an earnings-accretive acquisition.
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Bigprofit
Member |
08-Nov-2021 09:07
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Good that Co. rationalised its operations. Can Co. leverage on its engineering expertise to diversify into aerostructures and systems, aviation asset management, passenger-to-freighter conversions, etc? Seems pretty boring compared to ST Aerospace. Not an aviation expert though. |
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spursfan
Supreme |
05-Nov-2021 17:21
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SIA ENGINEERING GROUP POSTS PROFIT OF $25.0M FOR 1 st HALF FY2021-22 - Turnaround from the first half&rsquo s loss last year, due to better operating performance and absence of impairment - Sustaining this performance is dependent on steady flight recovery to offset tapering off of government wage support https://links.sgx.com/1.0.0/corporate-announcements/WFV3QFGLEP6NOFM7/689598_SIAENGCO1H2122NewsRelease-SGX.pdf |
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spursfan
Supreme |
05-Nov-2021 02:09
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SIA Engineering Company Signs Component Agreement with Thai VietJet- SINGAPORE, 04 November 2021 - Mainboard-listed SIA Engineering Company Limited (?SIAEC?) is pleased to announce the signing of an Inventory Technical Management Programme with Thai VietJet, Thailand?s leading low-cost carrier based at Bangkok?s Suvarnabhumi Airport. The agreement provides component support coverage to Thai VietJet?s fleet of Airbus A320 aircraft over a term of six years. Under the programme, SIAEC will provide comprehensive pooling as well as repair and overhaul of airframe and engine components. As part of the suite of offerings, SIAEC will also provide on-site stock in Bangkok to support the narrow-body operator within the Asia-Pacific region.... https://links.sgx.com/1.0.0/corporate-announcements/IBZT0AH40CM83VIC/689558_SGXNET%20-%202021%2011%2004%20TVJ%20Press%20Release.pdf | ||
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PhillipTan
Supreme |
29-Sep-2021 00:26
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SATS, SIA EC, Air China among OCBC' s top aviation sector picksOCBC Investment Research (OIR) analyst Chu Peng sees the easing of travel restrictions by the US as a " positive step forward" .The move, she says, will help the recovery of the aviation and tourism sectors, barring the risks of a potential spike in the number of Delta variant cases. Many regions in Asia Pacific, which have announced plans to move from " zero-Covid" to " living with Covid-19" is seen as another plus for the sector. That said, it is unlikely for a large scale and significant improvement in cross-border and, or international travel to happen in 2021 and 1H2022, she says. In her report on Sept 22, Chu also notes that the resurgence in Covid-19 cases around the world due to the Delta variant, has weighed on the performance of airline stocks. To be sure, the Bloomberg World Airlines index fell 9.75% and 5.2% in the months of June and July respectively. Among the airline names under OCBC' s coverage, Chu is positive on selective names within the sector. These include Delta Airlines and Southwest Airlines among the US airline names, as well as Air China, SATS and SIA Engineering Company (SIA EC) within Asia. " Delta Air Lines is a name to play the next phase of recovery in international and corporate travel. Europe made up 52% of Delta' s international available seat miles in 2019, compared to 43% for peers. With the US' announcement to reopen borders to 33 countries, including the UK and Europe from November this year, Delta is poised to benefit from a recovery in international travel," writes Chu. " On the other hand, Southwest is more of a domestic leisure play which is almost entirely focused on the domestic market," she adds. Chu has given Delta and Southwest both " buy" calls with target prices of US$52.50 ($71.04) and US$65. " Driven by a stronger travel demand, Air China' s net loss narrowed to RMB0.6 billion ($125.67 billion) in 2Q21, the lowest since the onset of the Covid-19 pandemic. In addition, revenue passenger kilometres (RPK) improved 109% y-o-y and passenger load factor was 75% which were the strongest since 2020," she writes. " Given prior track record of the Chinese government in handing sporadic cases, we think there is a good chance that the latest outbreak of the Covid-19 pandemic in Fujian could be controlled effectively before the October Golden Week." Within China, Chu believes that the demand for domestic travel should remain strong and continue to lead the recovery in 2021 and 2022. However, there is no sign that the government is planning to open its borders despite 76% of the population in Singapore having received at least one dose. " We expect Air China' s domestic seat capacity to fully recover to 2019 level this year and further increase to [around] 120% of 2019 level in 2022. However, we forecast Air China' s international seat capacity to be only 5% of 2019 level for 2021 and rebound to about 35% in 2022," she writes. In Singapore, the reopening of borders via the vaccinated travel lanes marks a measured start to the resumption of air travel, aiding the recovery of the aviation sector. That said, she believes visitor arrivals may remain muted in 2021 as vaccination rates and border measures vary in countries. " A more meaningful recovery is likely to happen in 2H2022 and 2023," she says. Chu views SATS as a beneficiary of strong cargo demand and the gradual recovery of air travel with buffer from its non-travel business. " For SATS' s 1QFY2022, cargo remained the bright spot which grew 13.5% q-o-q due to strong demand from e-Commerce, and temperature sensitive supplies such as vaccines and perishables. On a q-o-q basis, SATS' s flights handled improved 3.7% (at 25% of pre-Covid-19 levels) while passengers handled fell 10%," she writes. " As air travel takes time to recover, SATS' s non-travel business could continue to be a key revenue driver which made up 46% of SATS' s total revenue in 1QFY2022. Looking ahead, SATS will continue to grow its non-travel business across Asia and look for acquisition opportunities e.g. cargo handling assets and central kitchens," she adds. SIA EC is also another beneficiary once the borders reopen, says Chu, who deems the stock' s valuations undemanding. The counter is currently trading at a forward price-to-book (P/B) ratio of 1.45 times, which is around 1 standard deviation (s.d.) below its historical average of 2.0 times. Chu has given " buy" calls for Air China, SATS and SIA EC with target prices of HK$6.50 ($1.13), $4.80 and $2.37 respectively. Looking ahead, Chu sees digitalisation as a new way of travel, as the Covid-19 pandemic accelerated technology improvements and digital transformation. As business environments now use mobile self-serviced capabilities, contactless technology, digital health passports and vaccination visas, Chu believes that the trend would continue. " Companies which can innovate and adapt quickly to the regulatory requirements and passenger needs will emerge stronger post-Covid-19," she says. |
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TA_Expert
Supreme |
26-Sep-2021 02:08
Yells: "The World has changed" |
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The trio power stocks - SATS, SIAE and SIA share prices are holding so well despite the pandemic lasted for 2 years especially the first two. This clearly shows that major shareholders are confidence on the companies, shortists also afraid to short as they are against Ah Gong with trillions warchest. |
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PhillipTan
Supreme |
25-Sep-2021 16:15
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SIA Engineering signs new maintenance agreement with Hawaiian AirlinesSIA Engineering Company (SIAEC) on Friday said it signed an agreement with Hawaiian Airlines to expand airframe maintenance services for the latter' s Airbus A330-200 fleet.This is in addition to the group' s existing airframe services agreements with Hawaiian Airlines for its A330 aircraft, which cover heavy checks and paintings. Under the new agreement, the group will perform 12-year checks commencing in March 2022 on Hawaiian Airlines' fleet. Maintenance services will be undertaken by SIAEC at its facility in Singapore. SIAEC does not expect the transaction to have a material impact on its per-share earnings nor net tangible assets for the current financial year. In its press statement filed to the Singapore Exchange, the group underscored its customer' s status as Hawaii' s biggest and longest-serving airline. Hawaiian Airlines is estimated to offer 130 flights within the Hawaiian Islands, and services between Hawaii and 16 US gateway cities as well as Tahiti, American Samoa, Japan and South Korea. SIAEC chief executive Ng Chin Hwee said he sees the extension of additional maintenance services to Hawaiian Airlines as a testament to the successful relationship between both companies. It also demonstrates the airline' s vote of confidence for the SIAEC' s airframe maintenance services, in his view. " With our strong technical expertise and vast maintenance experience, we are well positioned to provide quality services and engineering support for the airline' s A330 fleet," said Mr Ng. Shares in SIAEC closed 1 cent lower or 0.47% down at $2.13 on Sept 24. |
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