Singapore Technologies Engineering (ST Engineering) has incorporated a new company, Keystone 5 Pte. (Keystone 5) in Singapore as a wholly-owned subsidiary of Keystone Holdings (Global) Pte. (Keystone Holdings), with a paid up capital of US$1.00.
Keystone Holdings is a 50-50 joint venture held between ST Aerospace Resources Pte. and SJ Aviation Capital Pte. A holding company for aircraft leasing investments, Keystone Holdings has subsidiaries across various geographies with a portfolio of aircraft which are currently on lease to global airlines.
Through Keystone 5, ST Engineering will grow its aircraft leasing business by acquiring more mid-life narrowbody aircraft that are currently on lease to airlines.