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.