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BUILDING & ENGINEERING | Staff Reporter, Singapore

ST Engineering’s aerospace arms injects US$3m into VT Volant Aerospace

Its total investment in the subsidiary is US$21.1m.

Singapore Technologies Engineering (ST Engineering) announced that Vision Technologies Aerospace (VT Aerospace) has channeled US$3m, or about S$4.2m, into the capital of its subsidiary VT Volant Aerospace.

According to ST Engineering’s media release, this places VT Aerospace’s total investment in VT Volant Aerospace to US$21.1m, or about $29.8m.

As part of the Vision Technologies Aerospace, Vision Technologies (VT Systems) has funneled US1.5m, or around $2.12m, into VT Aerospace’s capital as funding for the capital injection into VT Volant Aerospace.

VT Aerospace is a subsidiary of VT Systems, which is ST Engineering’s US headquarters.

ST Engineering asserted that the capital injections are not expected to materially impact the company’s FY16 consolidated net tangible assets per share and earnings per share.

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