On Aug. 6, ST Engineering said it has acquired the remaining 30 per cent stake in ST Aerospace Training Academy (STATA) for S$4 million cash.

The equity stake was acquired from the other existing shareholder, Aviation Training Academy (Singapore).

The group said that with this acquisition, STATA will become a wholly-owned subsidiary of ST Aerospace Engineering.

It said that the commercial pilot training academy is the first non-airline affiliated flight training organisation in Singapore to offer commercial pilot training services to network airlines, low-cost carriers and aspiring individuals.

ST Engineering added that the acquisition is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share for its current financial year.