ST Aerospace’s wholly owned subsidiary, ST Aerospace Engines Pte Ltd (STA Engines), has agreed to inject its pro rata share of an additional US$2.81m (S$3.58m) into the capital of its 50%-jointly controlled company, Total Engines Asset Management Pte Ltd (TEAM). This capitalisation exercise is performed in two stages with the first phase amounting to US$1.40m (S$1.78m) injected immediately and the second injection of US$1.41m (S$1.80m) on 16 October 2013. This exercise will bring STA Engines’ total share capital contribution in TEAM to US$11.02m (S$14.05m). The additional funding will support the expansion of the engine leasing business to include the International

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