SIA Engineering Company Limited (SGX:S59) acquired the remaining 20% stake in Singapore Jamco Services Pte Ltd from JAMCO Corporation (TSE:7408) for SGD 4.7 million on January 29, 2019. The consideration was paid in cash. Before the transaction, Singapore Jamco Services Pte Ltd was held as to 80% and 20% by SIA Engineering Company Limited and JAMCO Corporation respectively. Following completion, Singapore Jamco Services Pte Ltd became a wholly-owned subsidiary of SIA Engineering Company Limited. Singapore Jamco Services Pte Ltd will be renamed as Singapore Aero Support Services Pte Ltd. The transaction is not expected to have a material impact on the net tangible assets per share or the earnings per share of SIA Engineering Company Limited Group in financial year 2018/19.

SIA Engineering Company Limited (SGX:S59) completed the acquisition of the remaining 20% stake in Singapore Jamco Services Pte Ltd from JAMCO Corporation (TSE:7408) on January 29, 2019.