SINGAPORE, Jan 10 — The US State Department has approved the sale of up to 12 F-35B fighter jets and related equipment to Singapore at an estimated cost of US$2.75 billion (RM11.27 billion), pending approval from Congress, the Defence Security Cooperation Agency said today.

The Asian city-state said last year it planned buy an initial four F-35 fighter jets from Lockheed Martin Corp , with an option for eight more, as it looks to replace its ageing F-16 fleet.

With Southeast Asia's largest defence budget, wealthy Singapore is a key prize for global arms companies as it looks to invest in new technology and upgrade its equipment. — Reuters