KUALA LUMPUR: Sapura Sources Bhd’s (SRB) wholly-owned subsidiary, Sapura Aero Sdn Bhd (SASB), signed a memorandum of understanding (MoU) with Subang MRO Sdn Bhd (SMRO) to undertake varied aviation companies.
In a submitting to Bursa Malaysia, SASB and SMRO will kind a three way partnership firm to supply plane administration, upkeep, restore and overhaul (MRO), floor dealing with, plane parking and hangarage, and different associated companies.
Additional, each corporations have agreed to switch shares in AeroHandlers Sdn Bhd and SMRO to the three way partnership (JV) firm, with the ultimate worth to be determined later primarily based on the phrases within the definitive agreements.
This MoU outlines the preliminary phrases that may information the creation of the shares sale and buy settlement (SSPA) and three way partnership settlement (JVA).
SASB and SMRO have acknowledged that this MOU is non-binding, and the ultimate agreements would require approval from each corporations’ boards.
In keeping with the submitting, forming a JV firm will set up an organisation able to changing into a big regional participant, providing a complete vary of personal jet companies, together with plane administration, floor dealing with, and MRO companies.
With a number of regulatory approvals, the JV firm will likely be well-positioned to compete with main market gamers, SRB submitting famous.
The MoU won’t impression SRB’s issued share capital or the shareholdings of its main shareholders.
It’s also not anticipated to have any vital instant impact on SRB’s earnings per share, web property per share, or gearing for the monetary 12 months ending January 31, 2025.