Singapore, 12 March 2018 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), has injected its pro rata share of S$3.89m into its joint venture, ST Aerospace Aircraft Seats Pte Ltd (ST Aerospace Aircraft Seats), as working capital for its operations. ST Aerospace Aircraft Seats is 90% owned by ST Aerospace with the other 10% owned by Tenryu Holdings Co, Ltd.
This injection is part of ST Aerospace’s planned investment for the joint venture, bringing its total investment to S$16.78m.
Based in Singapore and part of ST Aerospace’s global network for integrated cabin interiors, ST Aerospace Aircraft Seats is responsible for the end-to-end design and manufacturing of a range of aircraft seating solutions.
The capital 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 with revenue of S$2.54b in FY2017. 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 service 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 asset management services, including Total Aviation Support. ST Aerospace has global staff strength of around 9,000 employees worldwide. Please visit www.stengg.com/en/aerospace for more information.
ST Engineering (Singapore Technologies Engineering Ltd) is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in more than 100 countries. Its employees bring innovation and technology together to create smart engineering solutions for customers in the defence, government and commercial segments. Headquartered in Singapore, ST Engineering reported revenue of S$6.62b in FY2017 and it 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. Please visit www.stengg.com for more information.
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