ST AEROSPACE INJECTS CAPITAL INTO ITS GLOBAL ASSET SERVICES BUSINESS

Singapore, 20 December 2012 – ST Aerospace today announced that it has injected an additional US$73.5m (S$89.8m) into the capital of wholly-owned subsidiary, ST Aerospace Rotables Pte. Ltd. (STAR). This brings ST Aerospace’s total share capital contribution in STAR to US$75m (S$91.6m).

STAR will utilise the additional funds to build up the rotables asset pool as it broadens the scope of its component total support capability. Established in September 2012 in Singapore, STAR is a global asset services company that focuses on rotable assets leasing, asset trading, rotables loan and exchange. It will also be leasing assets to support the aerospace sector’s Maintenance-By-the-Hour (MBHTM) programme.

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.