If Lam can have his way, the commercial aerospace market will be one to stay in. “We think of factors that run in the long term, such as government support and political stability. So we believe that it is with this approach that our business has continued to deliver good, positive returns.”
Hurt during the pandemic, Singapore Technologies Engineering (SGX:S63
) (ST Engineering) is now bolstering its commercial aerospace division to seize not just opportunities from the industry’s recovery, but also long-term growth.
“Our business model is based on investments of 20 years and beyond,” says Jeffrey Lam, president of commercial aerospace at ST Engineering, on Sept 23, when the company held the groundbreaking of a new $170 million Changi Creek airframe maintenance, repair and overhaul (MRO) facility. “Heavy infrastructure investments tend to be long-term, and therefore, a decision like this to us is not just a short-term affair,” he adds.
