STA Engines increase capital contribution in STATCO

Singapore Technologies Engineering Ltd (ST Engineering) updated today that further to its earlier announcement made on 8 September 2014, its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), through its wholly owned subsidiary ST Aerospace Engines Pte Ltd (STA Engines) has completed the capital injection of US$20.8m (approximately $25.98m) into its Xiamen-based engine MRO joint venture company, ST Aerospace Technologies (Xiamen) Company Limited (STATCO), upon securing regulatory approvals from the Chinese authorities. STA Engines’ total share capital contribution in STATCO now stands at US$41.6m (approximately $55.70m).

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.

Source: ST Engineering