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ST Engineering's Electronics Arm Increases Capital In STET Centre Pte. Ltd. And Renames The Subsidiary
Singapore, 14 January 2010 - Singapore Technologies Engineering Ltd (ST Engineering) today announced the change of name of its subsidiary, STET Centre Pte. Ltd. to STET Institute Pte. Ltd. (STET Institute). Concurrently, the share capital for STET Institute is increased from S$200,000 to S$700,000. The changes are made to strengthen the capital structure and align the company's name with that of the school as laid out in the guidelines of the Private Education Regulations and the requirements set out by EduTrust, a certification scheme issued by the Council for Private Education of Singapore.
The increase in share capital 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.
STET Institute was set up in February 2009 under ST Education & Training Private Limited (STET), a wholly-owned subsidiary of Singapore Technologies Electronics Limited, the electronics arm of ST Engineering.
STET (ST Education & Training Private Limited) specialises in maritime education, training and consultancy and homeland security consulting and engineering services, and is a strategic partner of the Republic of Singapore Navy.
Singapore Technologies Electronics Limited, the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. With a presence in more than 30 cities in 20 countries, ST Electronics markets its solutions to more than 80 countries internationally. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command and control, modelling and simulation, interactive digital media, intelligent building management and information security. Please visit www.stee.stengg.com.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported audited revenue of S$5.34b in FY2008 and ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 20,000 employees worldwide, and over 100 subsidiaries and associated companies in 24 countries and 42 cities. Please visit www.stengg.com.
Media Contacts:
Letticia Fong
Manager, Corporate Communications
ST Engineering
Tel: (65) 6722 1881
Fax: (65) 6720 2293
Email: letticiafong@stengg.com
Magdalen Loh
AVP/Head, Corporate Communications
ST Electronics
Tel: (65) 6413 1788
Fax: (65) 6484 8840
Email: magloh@stee.stengg.com
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