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Singapore, 25 February 2022 – Pursuant to Rule 706A of the Listing Manual of the Singapore Exchange Securities Trading Limited, Singapore Technologies Engineering Ltd (“ST Engineering”) wishes to announce the following transactions that occurred during the financial period from 1 July 2021 to 31 December 2021.

(A) Incorporation

(i)

Name ST Engineering Holdings GmbH
Country of Incorporation Germany
Date of Incorporation 26 July 2021
Issued Capital €26,000
Principal Activities Investment Holding
Interest held by ST Engineering

Before - 0%
After - 100%

Remark

Became a wholly-owned subsidiary of ST Engineering

 

(ii)

Name Juniper Aviation Investments Pte. Ltd. (“JAI”)*
Country of Incorporation Singapore
Date of Incorporation 20 July 2021
Issued Capital US$7,400,002 (Ordinary shares – US$2; Redeemable Preference shares – US$7,400,000)
Principal Activities Investment Holding
Interest held by ST Engineering

Before - 0%
After - 50%

Remark

JAI became a joint venture of ST Engineering.

* Refer to ST Engineering’s announcement released on 4 August 2021

(iii) 

Name Juniper Aviation Holdings Limited (“JAH”)
Country of Incorporation Cayman Islands
Date of Incorporation 5 August 2021
Issued Capital US$3,000,001
Principal Activities Investment Holding
Interest held by ST Engineering

Before - 0%
After - 50%

Remark

JAH, a wholly-owned subsidiary of JAI which is in turn a joint venture of ST Engineering. JAH became an associated company of ST Engineering.

 

(iv) 

Name Juniper Aviation Capital Limited (“JAC”)
Country of Incorporation Ireland
Date of Incorporation 19 October 2021
Issued Capital US$1
Principal Activities Provision of inter-company loans to associated aircraft leasing companies
Interest held by ST Engineering

Before - 0%
After - 50%

Remark

JAH, a wholly-owned subsidiary of JAI which is in turn a joint venture of ST Engineering. JAH became an associated company of ST Engineering.

 

(v)

Name ST Engineering URS, Inc.
Country of Incorporation United States of America
Date of Incorporation 13 August 2021
Issued Capital US$500,002
Principal Activities Provision of Passenger Information Systems for rail systems
Interest held by ST Engineering

Before - 0%
After - 100%

Remark

Became an indirect wholly-owned subsidiary of ST Engineering.

 

 (vi)

Name ST Engineering Urban Solutions USA, Inc.
Country of Incorporation United States of America
Date of Incorporation 27 September 2021
Issued Capital US$10
Principal Activities Investment Holding Company
Interest held by ST Engineering

Before - 0%
After - 100%

Remark

Became an indirect wholly-owned subsidiary of ST Engineering.

 

 (vii) 

Name ST Engineering Chile SpA
Country of Incorporation Chile
Date of Incorporation 6 October 2021
Issued Capital Chilean pesos $1,215,000
Principal Activities Specialises in the design, development and delivery of products, solutions and services for Smart City connectivity, integrated mobility and security
Interest held by ST Engineering

Before - 0%
After - 100%

Remark

Became an indirect wholly-owned subsidiary of ST Engineering.

 

(viii)

Name Capella 3 Leasing Limited
Country of Incorporation Ireland
Date of Incorporation 13 October 2021
Issued Capital US$1
Principal Activities Aircraft Leasing
Interest held by ST Engineering

Before - 0%
After - 100%

Remark

Became an indirect wholly-owned subsidiary of ST Engineering.

 

(ix)

Name Capella 4 Leasing Limited
Country of Incorporation Ireland
Date of Incorporation 16 November 2021
Issued Capital US$1
Principal Activities Aircraft Leasing
Interest held by ST Engineering

Before - 0%
After - 100%

Remark

Became an indirect wholly-owned subsidiary of ST Engineering.

 

(x)

Name InnoEdge Labs Pte. Ltd.
Country of Incorporation Singapore
Date of Incorporation 24 November 2021
Issued Capital S$2
Principal Activities Conduct R&D in cyber domains for the provision of consultancy & services
Interest held by ST Engineering

Before - 0%
After - 100%

Remark

Became an indirect wholly-owned subsidiary of ST Engineering.

 

(B) Acquisition

(i)

Name

Sicamb S.p.A. (“Sicamb”)

Country of Incorporation

Italy

Issued Capital

€14,849,986

Principal Activities

Manufacturing, repair and overhaul of ejection seats and aero structure components for military and civil aircraft

Date of Transfer

24 November 2021

Consideration

€1,999,981

Rationale

To strengthen the supply chain for its passenger-to-freighter business and enhance its manufacturing capabilities.

Interest held by ST Engineering

Before - 0%
After – 23.25%

Remark

Became an associated company of ST Engineering.

 

(C) Amalgamation

(i)

Names of Entity

ST Engineering Aerospace Supplies Pte. Ltd. (“STASupplies”)

Date of Amalgamation

2 July 2021

Issued Capital

S$15,000,000

Principal Activities

Repair management and warehouse services for aircraft equipment, parts & components

Rationale

The exercise was a result of ongoing business reviews to streamline and synergise capabilities, and to consolidate resources within the Commercial Aerospace business.

Interest held by ST Engineering

Before – 100%
After – 0%

Remark

STA Supplies was amalgamated with ST Engineering Aerospace Systems Pte. Ltd. (an indirect wholly-owned subsidiary of ST Engineering) with the latter being the surviving entity after the amalgamation.

 

(ii)  

Name of Entity

Glowlink Communications Technology, Inc. (“Glowlink”)

Date of Merger

31 December 2021

Issued Capital

US$16,244,262

Principal Activities

Design, develop and market two-way spectral monitoring, geolocation, and interference mitigation technologies for international markets

Rationale

The exercise was a result of ongoing business reviews to streamline and synergise capabilities, and to consolidate resources within the Satellite Communications business area.

Interest held by ST Engineering

Before – 100%
After – 0%

Remark

Glowlink, a California corporation and a wholly- owned subsidiary of iDirectGov, merged with and into iDirectGov, a Delaware limited liability company and a wholly-owned subsidiary of ST Engineering with iDirectGov being the surviving entity and the separate corporate existence of Glowlink ceasing to exist, in accordance with the laws of the State of Delaware and the laws of the State of California.

 

(D) Change in interest

(i)

Name

Keystone 1 Limited (“Keystone 1”)

Country of Incorporation

United Kingdom

Issued Capital

US$8,949,570

Principal Activities

Aircraft Leasing

Transaction

ST Engineering Aerospace Resources (Ireland) Limited, an indirect wholly-owned subsidiary of ST Engineering has sold the entire equity interest in the capital of Keystone 1 to JAH which is in turn a wholly-owned subsidiary of JAI, a joint venture of ST Engineering.

Date of Transfer

28 December 2021

Consideration

US$16,000,000

Rationale

The exercise was a result of ongoing business reviews to streamline and synergise capabilities.

Interest held by ST Engineering

Before – 100%
After – 50%

Remark

Became an associated company of ST Engineering.

 

(E) Dissolution

(i)

Name

Keystone 3 Limited (“Keystone 3”)

Country of Incorporation

Ireland

Shareholder

Keystone Holdings (Global) Pte. Ltd., a joint venture of ST Engineering

Principal Activities

Aircraft leasing

Date of Dissolution

30 September 2021

Rationale

Ceased operation.

Interest held by ST Engineering

Before – 50%
After – 0 %

Remark

Ceased to be an associated company of ST Engineering.


The above transactions do not have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

*****

For investor relations enquiries, please contact ir@stengg.com