ST Aerospace injects new capital into total engines asset management

ST Aerospace has announced that its wholly owned subsidiary ST Aerospace Engines Pte Ltd (STA Engines), has injected its pro rata share of an additional US$4.05m (S$5.01m) into the capital of its 50%-owned associated company, Total Engines Asset Management Pte Ltd (TEAM). With this new injection, it will bring STA Engines’ total share capital contribution in TEAM to US$8.21m (S$10.15m). This additional funding will support the expansion of the engine leasing business. Under the financing model agreed by the joint venture partners, capital injection is initiated every time TEAM secures a new engine leasing contract. This is to ensure that