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Claim against ST Aerospace has no merit, says ST Engineering

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Singapore Technologies Engineering Ltd on Wednesday said its wholly-owned subsidiary, Singapore Technologies Aerospace Ltd, has recently received a writ of summons issued in the court of Toulouse, France, for losses arising out of an Airbus Air Asia flight from Indonesia to Singapore on Dec 28, 2014.

SINGAPORE Technologies Engineering Ltd on Wednesday said its wholly-owned subsidiary, Singapore Technologies Aerospace Ltd, has recently received a writ of summons issued in the court of Toulouse, France, for losses arising out of an Airbus Air Asia flight from Indonesia to Singapore on Dec 28, 2014.

The writ was filed by a number of passenger families against a number of defendants, including ST Aerospace.

"Neither ST Aerospace nor any of its subsidiaries were providing line maintenance support to Air Asia's fleet at the time and were not therefore asked to assist the Indonesian accident investigation board when it conducted its investigation and issued its final report in 2015," said ST Engineering, adding that ST Aerospace does not consider the claim to have any merit.

The company said in a filing to the local bourse that the claim is not expected to have any material impact on the net tangible assets per share and earnings per share of ST Engineering for the financial year ending Dec 31, 2016.

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It added that it will make timely announcements where appropriate to keep shareholders informed of material developments in respect of the claim.

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