Singapore Technologies Engineering (ST Engineering) announced in early February that its aerospace arm has injected US$1.2m (approximately S$1.6m) into the capital of its 50%-owned joint venture company, Keystone Holdings (Global) Pte. Ltd. (Keystone Holdings)
This capital injection will support the expansion of ST Engineering’s aircraft leasing business, bringing its total share capital contribution in Keystone Holdings to US$17.2m (approximately S$23.2m).
Keystone Holdings is a 50-50 joint venture held between ST Aerospace Resources and SJ Aviation Capital. A holding company for aircraft leasing investments, Keystone Holdings has subsidiaries across various geographies with a portfolio of aircraft which are currently on lease to global airlines.
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.