Singapore Technologies Aerospace Ltd (ST Aerospace) announced that it has won a contract to provide training helicopter for the Singapore Ministry of Defence. Under this contract, worth about $120m, ST Aerospace will provide the Republic of Singapore Air Force (RSAF) a fleet of five EC120 Colibri helicopter with full technical and logistic support for the fleet over a period of 20 years. Under the programme, ST Aerospace will own and maintain the helicopter, while pilot training would be performed by the RSAF. Eurocopter Southeast Asia (ESEA), which collaborated with ST Aerospace on this project, will supply the helicopter as well as the simulators.
This contract 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.