Singapore, 29 November 2022 - Singapore Technologies Engineering Ltd (ST Engineering) today announced that its wholly-owned subsidiary ST Engineering (Israel) Smart Cities Ltd has been placed under members’ voluntary liquidation. The entity was incorporated in 2019 to provide local support services for smart city projects. These projects have concluded in 2021.
This exercise is part of ST Engineering’s ongoing review to streamline its legal entity structure, and is not expected to have any material impact on either the net tangible assets per share or the earnings per share of ST Engineering Group for the current financial year.
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