Singapore, 28 August 2012 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), through its wholly owned subsidiary ST Aerospace Engineering Pte Ltd (STA Engineering) has injected US$1.44m (approximately S$1.8m) into the capital of wholly owned subsidiary, ST Aerospace Academy Pte Ltd (STAA).
The capital injection affirms ST Aerospace’s confidence in the pilot training business and its continued investment to upgrade STAA’s flight training capacity and capabilities to meet rising training demand from airline customers and private self-funded individuals. STAA will use part of the funds to equip its new Flight Operations Centre (FOC) at the Ballarat Airport, featuring a state-of-the-art centralised flight operations and dispatch centre. The FOC will come with a new aircraft apron that can accommodate a fleet of up to 40 training aircraft. There is also plan to acquire a PA44 Seminole full flight simulator in late 2012. STAA expects to train 200 commercial pilot cadets by the end of 2012.
The fund injection is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the world’s largest commercial airframe MRO provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 8,000 engineers and technical specialists. Please visit www.staero.aero.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of S$5.99b in FY2011 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 23 countries and 41 cities. Please visit www.stengg.com.
Media Contacts:
Lina Poa
SVP, Corporate Communications
ST Engineering
Tel: (65) 6722 1883
Email: linapoa@stengg.com
Belinda Ng
AVP / Head, Corporate Communications
ST Aerospace
Tel: (65) 6380 6176
Email: belindang@stengg.com