SIA Engineering (SGX:S59) established a joint venture named TIA Engineering Services Co. in Cambodia with Cambodia Airport Investment.
SIA has a 51% stake in the JV, while Cambodia Airport has a 49% stake. The JV's total issued and paid-up capital is $5 million, according to a Wednesday filing with the Singapore Exchange.
The JV company will provide line maintenance services at the Techo International Airport in Phnom Penh. It will complement SIA's existing network of Line Maintenance International (LMI) stations.
With the incorporation of the new JV, the company's portfolio now includes 25 subsidiaries and joint ventures with manufacturers and strategic partners in nine countries.
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