Singapore, 16 March 2017 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace) has injected its proportional share amounting to S$3.574m into the capital of its joint venture, ST Aerospace Aircraft Seats Pte. Ltd. (ST Aerospace Aircraft Seats) as working capital. 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 investments to S$12.898m.
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 injection of capital is not expected to have any material impact on the consolidated net tangible asset 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$2.49b in FY2016. 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 asset management services, including Total Aviation Support. ST Aerospace has global staff strength of around 8,000 employees worldwide. Please visit www.staero.aero for more information.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. It has global presence with offices in Asia, the Americas, Europe and the Middle East and employs about 22,000 employees. Across the globe, its employees bring innovation and technology together to create smart engineering solutions for its customers in the defence, government and commercial segments. Headquartered in Singapore, ST Engineering reported revenue of S$6.68b in FY2016 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. Please visit www.stengg.com for more information.
Head, Corporate Communications
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Say Huan Yuan
AVP, Corporate Communications
Tel: (65) 6380 6362