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Singapore Technologies Engineering Reorganises Aircraft Leasing Business
Daily Bulletin | 01 September 2015
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Singapore Technologies Engineering’s wholly-owned subsidiary, ST Aerospace Resources, has announced the termination of a joint venture, WingStar, with partner Wings Capital Partners Holdings.

The decision to terminate WingStar, which was set up to acquire mid-life to end-life aircraft for lease, conversion or part out, was mutually agreed upon between the two shareholders as a result of differing views on the strategic focus and operational plans.

Upon recognising aircraft leasing as an important extension of its total aviation support offering, ST Aerospace Resources will continue to tap on opportunities created by global aircraft fleet expansion and renewal, to build up a portfolio of min-life and end-of-life aircraft assets.

This has led ST Aerospace Resources to incorporate Keystone Holdings, who serves as a holding company for aircraft leasing investments, with a paid up capital of US$10.

Singapore Technologies Engineering  4.040 +0.02 +0.50%   
Business: An integrated engineering group providing solutions & services across many sectors. [FY18 Turnover] Aerospace (39.5%), electronics (32%), land systems (19.1%), marine (8.6%), others (0.8%).

Insight: May-19, 1Q19 revenue rose 5.1% to $1.7b attributed... Read More

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