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ST Engineering's aerospace arm injects capital into its US units
SINGAPORE Technologies Engineering (ST Engineering) said on Wednesday that Vision Technologies Aerospace Incorporated (VT Aerospace) has injected US$2.06 million and US$955,000 into the capital of its wholly-owned units, Aviation Academy of America Inc (AAA) and VT Aviation Services Inc (VTAS), respectively.
This brings VT Aerospace's total investments in AAA to US$2.86 million and its investments in VTAS to US$996,000.
To fund the capital injection, Vision Technologies Systems Inc, a wholly-owned subsidiary of ST Engineering, has also injected US$3.05 million into the capital of VT Aerospace.
The capital injections are not expected to have any material impact on ST Engineering's consolidated net tangible assets per share or earnings per share, for the current financial year.
ST Engineering's shares closed flat at S$3.60 on Wednesday, before the announcement was made.