Singapore, ST Aerospace announced today that it has incorporated a wholly-owned subsidiary, ST Aerospace Rotables Pte. Ltd. (STAR), with paid up capital of US$1.5m (approximately S$1.88m).

STAR, a global asset services company, will be headquartered in Singapore with marketing offices in the Americas, Europe, the Middle East and Africa (EMEA) and Asia Pacific.

STAR will be focusing on rotable assets leasing, asset trading, rotables loan and exchange, as well as providing support to the sector's maintenance-by-the-hour (MBHTM) program.

According to  ST Aerospace, the new set up is in line with its corporate plan to develop and extend its component total support capability, and address evolving market demands.  STAR will manage rotable assets for customers, through trading and utilisation withloan and exchange.  It will leverage ST Aerospace's brand and expertise to help customers monetise existing assets through its wide range of inventory solutions.