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ST Engineering's Aerospace Arm Injects Additional Capital To Expand Leasing Portfolio

Singapore, 22 December 2015 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that further to its announcement on 11 December 2015, ST Aerospace Resources Pte. Ltd. has injected US$8,137,277 (approximately S$11.5m) into the capital of its subsidiary, Keystone Holdings (Global) Pte. Ltd, for the purpose of expanding its aircraft leasing business, which now adds on a Boeing 737NG into the growing portfolio.  This brings ST Aerospace Resources’ total share capital contribution in Keystone Holdings (Global) to US$13,180,887 (approximately S$18.7m). 

As part of its capitalisation exercise, Keystone Holdings (Global) has injected US$3,957,057 (approximately S$5.6m) into its subsidiary Keystone Leasing (UK) Limited, which has in turn injected the same amount into Keystone 2 Limited. 

The plan involves Singapore Technologies Aerospace Ltd injecting US$8,137,277 (approximately S$11.5m) into the capital of ST Aerospace Resources, for the capitalisation of Keystone Holdings.

The capital injection affirms the Group’s aerospace sector’s confidence in the aircraft leasing business and the continued investments to grow its aircraft portfolio to support the market demand. 

These capital injections are 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.

ST Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering with a revenue of $2.07b in FY2014.  Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the world’s largest commercial airframe MRO provider with a global customer base that includes leading airlines, airfreight and military operators.  ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and asset management services, including Total Aviation Support.  ST Aerospace has a global staff strength of around 8,000 employees worldwide.  Please visit www.staero.aero.

ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors.  Headquartered in Singapore, the Group reported revenue of $6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange.  It is a component stock of the FTSE Straits Times Index and MSCI Singapore. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries.  Please visit www.stengg.com for more information.

Media Contacts:
Lina Poa
SVP, Corporate Communications
ST Engineering
Tel:      (65) 6722 1883
Email:  linapoa@stengg.com

Belinda Ng
VP, Corporate Communications
ST Aerospace
Tel:      (65) 6380 6176
Email:  belindang@stengg.com

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