Singapore, 30 May 2017 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that ST Aerospace Engineering Pte Ltd (STA Engineering), a subsidiary of its aerospace arm Singapore Technologies Aerospace Ltd (ST Aerospace), has injected an additional amount of about US$21.5m (approximately S$30.0m) into the capital of its pilot training subsidiary, ST Aerospace Academy Pte. Ltd. (STAA). The capital injection is done through a capitalisation of existing intercompany loans into equity. STA Engineering’s shareholding in STAA remains at 100%.
This injection brings STA Engineering’s total investment in STAA to about US$34.5m (approximately S$48.1m).
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$2.49b 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
Tel: (65) 6722 1818
Say Huan Yuan
AVP, Corporate Communications
Tel: (65) 6380 6362