Singapore, 24 February 2016 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that ST Marine (Wuhan) Engineering Design Consultancy Co. Ltd. (ST Marine (Wuhan)), a subsidiary of its marine arm, Singapore Technologies Marine Ltd (ST Marine), has been placed under members’ voluntary liquidation.
The liquidation of ST Marine (Wuhan), which is based in Wuhan, China, is a result of an ongoing business review to streamline capabilities and optimise resources within ST Marine. The liquidation has no bearing on ST Marine’s capabilities in its design and engineering expertise.
This exercise 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.
ST Marine (Singapore Technologies Marine Ltd), the marine arm of ST Engineering, provides turnkey building, repair and conversion services for a wide spectrum of naval and commercial vessels. In shipbuilding, it has the proven capabilities to provide turnkey solutions from concept definition to detailed design, construction, on-board system installation and integration, testing, commissioning to through-life support. It has also established a track record in providing high engineering content shiprepair and ship conversion services for a worldwide clientele. ST Marine also provides a suite of sustainable environmental engineering solutions via its environmental engineering subsidiaries led by STSE Engineering Services Pte Ltd (STSE). Please visit www.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 revenue of $6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index and MSCI Singapore. ST Engineering has more than 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
SVP, Corporate Communications
Tel: (65) 6722 1883
Head, Corporate Communications
Tel: (65) 6860 9285 / (65) 9155 5600
Fax: (65) 6861 3028