(February 17 12:56) Sbr.com.sg
Submitted By:
Clarist Zablan
Case Study:
No
The company will have an initial registration capital of $5.53m.
SIA Engineering Company (SIAEC) has entered into a joint venture (JV) agreement with Air Innovation Korea (AIK) for a Korea-based line maintenance project, according to a press release.
Under the agreement, SIAEC will hold an equity stake of 51% in the Joint Venture, with AIK taking the remaining 49% stake. The JV company will have an initial registration capital of around $5.53m (KRW4.77b).
SIAEC will subscribe for $2.82m (KRW2.43b) in cash, whilst AIK will subscribe for $2.71m (KRW2.34b).
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