$SIA Engineering (S59.SG)$ SIA Engineering signs $120.8 mil ...
$SIA Engineering(S59.SG$ SIA Engineering signs $120.8 mil services agreement with Scoot
The new two-year agreement with Scoot will commence on April 1 with an option to extend for an additional year.
The agreement comes just two days after SIAEC signed a similar agreement with SIA on March 29.
SIAEC will support Scoot through its maintenance, repair and overhaul (MRO) and fleet management support services.
The agreement is expected to yield a labour revenue of $120.8 million over the three-year term. It is not expected to have a material impact on SIAEC's net tangible assets (NTA) per share or EPS for the FY2024 ending March 31, 2024.
Shares in SIAEC and SIA closed at $2.25 and $5.73 respectively on March 31.
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