Air Transport World

Maintaining momentum.

Singapore Technologies prospers in the MRO market despite Asia's downturn

A mid the current gloom within the Asian aviation industry, at least one company, Singapore-based ST Aerospace, has managed to limit its exposure to the financial crisis and is planning some cautious expansion.

ST Aerospace provides maintenance, refurbishment, modification and upgrading services for commercial and military aircraft, and is a key part of Singapore Technologies Engineering, the fifth-largest company on the Singapore Stock Exchange, with a market capitalization of S$3.4 billion.

Just over a year has passed since ST Aerospace lost its own listing on the exchange and was merged into the parent company. Approximately one-third of ST Engineering trades publicly, with the remaining two-thirds held by Temasek Holdings, which ultimately is controlled by the Singaporean Ministry of Finance. The government may reduce its control of the company but that appears to be only a remote possibility, acknowledges Tay Kok Khiang, deputy president and COO. …

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