Stock News: A-Sonic jumps on 139 mln sgd fleet maintenance deal

A-Sonic Aerospace Ltd was sharply higher after it said its unit JANCO Aircraft & Engines Pte Ltd has entered into a seven-year aircraft maintenance management deal valued at about 139 mln sgd with Malaysian Fly Asian Xpress Sdn Bhd. "From a financial perspective, the 139 mln sgd multi-year contract provides recurrent revenue and earnings to the A-Sonic Aerospace group," it said in a statement. A-Sonic rose 0.035 sgd or 14.29 pct to 0.280 on volume of 284,000 shares in early morning trade.