ST Aerospace has injected an additional $62,945,000 into the capital of its wholly owned subsidiary, ST Aerospace Engines Pte Ltd (STA Engines). This brings ST Aerospace’s total share capital contribution in STA Engines to $117,945,000.
The capital injection was effected through a conversion of loans totalling US$50m (about S$62.95m) previously extended by ST Aerospace to STA Engines. The loan was part of the funding to support the expansion of engine total support business.
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.