Singapore Engineerings Aerospace Tender

Singapore Technologies Engineering Ltd ST Engineering today announced that its aerospace arm has injected its pro rata share of S3.375m into its 90-owned joint venture ST Aerospace Aircraft Seats Pte Ltd ST Aerospace Aircraft Seats as working capital for its operations. The balance 10 is owned by Tenryu Holdings Co Ltd.This injection is part of ST Engineerings planned investment for the joint venture bringing its total investment to S20.158m.Based in Singapore and part of ST Engineerings global aerospace network ST Aerospace Aircraft Seats provides end-to-end design and manufacturing solutions for aircraft seats. Its proprietary economy aircraft seat SPACElite continues to gain global recognition for design excellence when it recently received Japans prestigious Good Design Award.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.ST Engineering is a global technology defence and engineering group specialising in the aerospace electronics land systems and marine sectors. The Group employs about 22000 people across offices in Asia the Americas Europe and the Middle East serving customers in the defence government and commercial segments in more than 100 countries. With more than 500 smart city projects across 70 cities in its track record the Group continues to help transform cities through its suite of Smart Mobility Smart Security and Smart Environment solutions. Headquartered in Singapore ST Engineering reported revenue of S6.62b in FY2017 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index MSCI Singapore SGX ESG Transparency Index and SGX ESG Leaders Index.The Aerospace sector provides integrated aerospace services and solutions through a global network of facilities and affiliates in the Americas Asia Pacific and Europe supporting a broad customer base that comprises leading airlines airfreight operators and armed forces. Its wide spectrum of maintenance and engineering solutions include airframe engine and component maintenance repair and overhaul engineering design and technical services as well as aviation materials and asset management services. The sector also has original equipment manufacturing capabilities and holds proprietary designs in products such as aircraft seats. For more information please visit www.stengg.com.