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ST Engineering’s aerospace arm injects US$19.5m into aircraft leasing business
SINGAPORE Technologies Engineering (ST Engineering) announced on Wednesday that its aerospace arm has injected US$19.5 million into ST Engineering Aerospace Resources for the purchase of aircraft assets to support the expansion of the group’s aircraft leasing business.
This capital injection, funded through internal cash, brings the group’s total share capital contribution in ST Engineering Aerospace Resources to US$49 million . The net asset value of ST Engineering Aerospace Resources is estimated to be US$53.74 million after the capital injection.
The exercise 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.