Singapore, 12 March 2018 – 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 S$3.89m into its joint venture, ST Aerospace Aircraft Seats Pte Ltd (ST Aerospace Aircraft Seats), as working capital for its operations. ST Aerospace Aircraft Seats is 90% owned by ST Aerospace with the other 10% owned by Tenryu Holdings Co, Ltd.
This injection is part of ST Aerospace’s planned investment for the joint venture, bringing its total investment to S$16.78m.
Based in Singapore and 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.
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.