Singapore, 19 June 2015 – 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 $5,291,991 into the capital of its (90:10) subsidiary, ST Aerospace Aircraft Seats Pte Ltd, as working capital for its operations. This injection is part of ST Aerospace’s planned investment and would bring its total investment in the subsidiary to $5,292,000.
Based in Singapore and marketed as 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.
This 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 a revenue of $2.07b in FY2014. 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 a global staff strength of around 8,000 employees worldwide. 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 revenue of $6.54b in FY2014 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 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.
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