Singapore, 14 January 2013 – ST Aerospace today announced that its wholly owned subsidiary ST Aviation Resources Pte Ltd (ST Aviation Resources) has dissolved ST Aviation Resources 1 Limited (STAR1). STAR1 is a wholly owned dormant subsidiary of ST Aviation Resources.
Incorporated in the territory of British Virgin Islands in 1996, STAR1 was created as a special purpose vehicle to enter into a joint venture investment that owned and leased one aircraft to an Asian airline. STAR1 has remained dormant since end 2006 upon the completion of the aircraft lease programme, and the subsequent sale of the aircraft in the same year.
The dissolution of STAR1 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 Aerospace (Singapore Technologies Aerospace Ltd) is the aerospace arm of ST Engineering. Operating a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe, it is the world’s largest commercial airframe MRO provider with a global customer base that includes leading airlines, airfreight and military operators. ST Aerospace is an integrated service provider that offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; and aviation materials and management services, including Total Aviation Support. ST Aerospace has a global staff strength of more than 8,000 engineers and technical specialists. Please visit www.staero.aero.
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