Singapore, 13 February 2017 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace) has incorporated a new company, Keystone 4 Limited (Keystone 4), in Ireland, as a wholly-owned subsidiary of Keystone Holdings (Global) Pte. Ltd. (Keystone Holdings), with a paid up capital of US$1.
Keystone Holdings is a 50-50 joint venture aircraft investment holding company between ST Aerospace Resources Pte. Ltd. and SJ Aviation Capital Pte. Ltd. A holding company for aircraft leasing investments, Keystone Holdings has subsidiaries across various geographies with a portfolio of aircraft which are currently on lease to global airlines.
Through Keystone 4, ST Aerospace will grow its aircraft leasing business by acquiring more mid-life narrow body aircraft that are currently on lease to airlines.
The setting up of Keystone 4 is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for this financial year.
ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. ST Aerospace is an integrated service provider that offers a wide spectrum of aircraft maintenance, engineering and training services for both military and commercial aircraft operators. These services include airframe, components and engine maintenance, repair and overhaul, engineering design and technical services, material support, asset management and pilot training. Operating a global maintenance, repair, and operations (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. Please visit www.staero.aero for more information.
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 revenue of $6.34b in FY2015 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore and the SGX Sustainability Leaders Index. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
Head, Corporate Communications
Tel: (65) 6722 1818
Say Huan Yuan
AVP, Corporate Communications
Tel: (65) 6380 6362