SINGAPORE, February 9, 2018 - Mainboard-listed SIA Engineering Company Limited (“SIAEC”) today announced the signing of a Memorandum of Understanding (“MOU”) with CaseBank Technologies (“CaseBank”) – a division of Aircraft Technical Publishers (“ATP”) and the leading provider of integrated diagnostic and troubleshooting software solutions – to collaborate in the field of data analytics.
Under the MOU, the parties will explore collaborating in the areas of research, development and commercialisation of advanced diagnostic software, for use in the aviation industry. The deployment of advanced diagnostic software during aircraft maintenance will streamline the troubleshooting process and reduce aircraft maintenance downtime and component removal costs.
This collaboration combines CaseBank’s experience in developing and providing software and services, with SIAEC’s engineering and maintenance, repair and overhaul (“MRO”) expertise, to provide airline customers worldwide with enhanced aircraft maintenance solutions.
CaseBank’s guided diagnostic software employs “hybrid reasoning,” the core technology that combines engineering knowledge with field experience to drive the company’s integrated solutions for servicing complex equipment, improving uptime and performance.
“We believe the combination of these efforts with CaseBank will benefit our airline customers. This collaboration enables us to jointly deliver a solution that will improve accuracy of fault isolation and corrective actions through the use of analytics,” said Mr Foo Kean Shuh, Senior Vice President Innovation & Technology of SIAEC.
“We are pleased to partner with SIAEC on this project, which is the culmination of our efforts over the past 18 months,” said Mr Rick Noble, Chief Executive Officer of CaseBank Technologies and parent company, ATP. “In 2017, SIAEC also began using our ChronicX solution to increase aircraft availability and improve repair efficiency. We believe the combination of these efforts will be a great benefit for SIAEC and CaseBank Technologies.”
The transaction is not expected to have a material impact on the financial performance of SIAEC in FY2017/18. None of the Directors of SIAEC has any interest, direct or indirect, in the transaction.