NICHOLAS IONIDES / SINGAPORE
Singapore-based aerospace components and systems supplier A-Sonic Aerospace is seeking to raise funds through an initial public offering (IPO) next month, after which the company will be listed on the Singapore stock exchange.
The privately owned company began operations in 1996 with the incorporation of Janco Aviation, and this year A-Sonic Aerospace became the holding company of its operating subsidiaries.
A-Sonic says in its preliminary prospectus that, apart from expanding its existing operations, it aims to focus on other aviation-related activities, including selling or leasing aircraft.
The company says it is in talks to purchase three aircraft from an airline for delivery in the fourth quarter of this year.
A-Sonic specialises in retrofits of electronic systems and components in aircraft to improve operating efficiency, reduce operating costs and boost safety.
It supplies electronic systems such as flight management computers and fuel quantity indicating systems, and components such as autothrottle computers, display units, elevator feel computers, engine controls, fuel computers, indicators, panels, stabiliser brakes, stabiliser control modules, servo-actuators and sensors.
A-Sonic's customers are mainly airlines in China and other parts of the Asia Pacific, and the company has eight original equipment manufacturer partners from France, the UK and the USA.
The company posted a net profit last year of S$6.5 million ($3.7 million) on revenue of S$26.2 million. For the six months ended 30 June this year, A-Sonic recorded a net profit of S$3.9 million on revenue of S$11.5 million.
Source: Flight International
