ST Engineering said on Saturday that its aerospace arm injected US$1.2 million, or around S$1.6 million, into the capital of its joint venture, Keystone Holdings (Global).
That brought ST Engineering’s total share capital contribution to Keystone Holdings to US$17.2 million, or around S$23.2 million, it said in a filing to SGX on Saturday.
The funds are to expand ST Engineering’s aircraft leasing business, it said.
Keystone Holdings, a 50-50 joint venture between ST Aerospace Resources and Singapore-based SJ Aviation Capital, is a holding company for aircraft leasing investments. SJ Aviation Capital is a subsidiary of Sojitz Corp. of Japan.
Via its subsidiaries in various geographies, Keystone Holdings has a portfolio of aircraft currently on lease to global airlines, it said.