Singapore, 13 February 2017 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace) has incorporated a new company, Keystone 4 Limited (Keystone 4), in Ireland, as a wholly-owned subsidiary of Keystone Holdings (Global) Pte. Ltd. (Keystone Holdings), with a paid up capital of US$1.

Keystone Holdings is a 50-50 joint venture aircraft investment holding company between ST Aerospace Resources Pte. Ltd. and SJ Aviation Capital Pte. Ltd. A holding company for aircraft leasing investments, Keystone Holdings has subsidiaries across various geographies with a portfolio of aircraft which are currently on lease to global airlines.

Through Keystone 4, ST Aerospace will grow its aircraft leasing business by acquiring more mid-life narrow body aircraft that are currently on lease to airlines.

The setting up of Keystone 4 is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for this financial year.