SINGAPORE Technologies Engineering (ST Engineering) announced today (Oct 4) that its aerospace arm, Singapore Technologies Aerospace (ST Aerospace) has injected new capital into its 50 per cent-owned Total Engines Asset Management (Team).

Through subsidiary ST Aerospace Engines (STA Engines), it has agreed to inject its pro rata share of an additional US$2.81 million ($3.58 million) into the capital of Team.

The first phase of US$1.40 million is injected immediately and the second injection of US$1.41 million will be done on Oct 16.

STA Engines' total share capital contribution in Team totals US$11.02 million.

The move will support the expansion of the engine leasing business to include the International Aero Engines (IAE) V2500 engine into its portfolio.