Singapore, 21 May 2019 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its subsidiary, ST Aerospace International Structures Pte Ltd (STAIS), has applied to the Accounting and Corporate Regulatory Authority in Singapore to remove its name from the Register pursuant to the Section 344 of the Companies Act, Chapter 50.
STAIS was formed to undertake an EC120 Colibri helicopter manufacturing programme which has since been completed. Prior to the application for de-registration, STAIS effected a capital reduction of its share capital from $200,000 to $1, which resulted in the cancellation of 199,999 ordinary shares in the issued share capital of STAIS.
The application 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.
All figures are denominated in Singapore dollars unless indicated otherwise.
ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. With more than 500 smart city projects across 70 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of $6.7b in FY2018 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index.
The Aerospace sector operates a global MRO network with facilities and affiliates in the Americas, Asia Pacific and Europe. An integrated aerospace service provider, it offers a spectrum of maintenance and engineering services that include airframe, engine and component maintenance, repair and overhaul; engineering design and technical services; as well as aviation materials and asset management services. The sector has a global customer base that includes leading airlines, airfreight and military operators, and is the world’s largest commercial airframe MRO service provider. For more information, please visit www.stengg.com.
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