Singapore Technologies Engineering’s aerospace arm, Singapore Technologies Aerospace has injected its proportional share amounting to S$3.574m into the capital of its joint venture, ST Aerospace Aircraft Seats as working capital. ST Aerospace Aircraft Seats is 90% owned by ST Aerospace with the other 10% owned by Tenryu Holdings.
This injection is part of ST Aerospace’s planned investment for the joint venture, bringing its total investments to S$12.898m.
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 injection of capital is not expected to have any material impact on the consolidated net tangible asset per share and earnings per share of ST Engineering for the current financial year.