SIA Engineering Co (SG:S59) has released an update.
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SIA Engineering Company Limited (SIAEC) has decided to exit the PW1500G Engine Risk-Revenue Sharing Programme, through its subsidiary NexGen Network, to reallocate capital towards growth strategies aligned with the company’s objectives. The move results in the write-off of S$25.1 million in net assets. This strategic exit reflects SIAEC’s commitment to optimizing its investments and enhancing its engine service capabilities without additional shareholder implications.
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