SINGAPORE (Nov 27): OCBC is maintaining its “hold” recommendation on SIA Engineering’s (SIAEC) as the group restructures the JV structures that involve Rolls-Royce (RR), and Hong Kong Aero Engine Services (HAESL).

Post-restructuring, both JVs will no longer be bounded by designated Asia-Pacific territory for Maintenance, Repair & Overhaul (MRO) business of Rolls-Royce Trent engines.

In the near term, the removal of territory-based rights may result in SAESL seeing increased competition from HAESL.

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