ST Aerospace injects new capital into Total Engines Asset Management to expand its engine portfolio

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