Singapore, 3 May 2018 – Singapore Technologies Engineering Ltd (ST Engineering), today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has streamlined its entities through a short-form amalgamation under Section 215D of the Singapore Companies Act.
With effect from 1 May 2018, STELCOMMS Pte Ltd (STELCOMMS) is amalgamated with ST Electronics (Info-Comm Systems) Pte Ltd (STEE-InfoComm). The Certificate of Confirmation of Amalgamation has been received from the Accounting and Corporate Regulatory Authority, with the assets and personnel of STELCOMMS transferred to STEE-InfoComm as the surviving entity after the amalgamation. Business will continue seamlessly with STEE-InfoComm as a subsidiary of ST Electronics.
This exercise is a result of ongoing business review to streamline capabilities and consolidate resources within the electronics sector, and 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 Electronics (Singapore Technologies Electronics Limited) is the electronics arm of Singapore Technologies Engineering Ltd, one of the largest public-listed companies on the Singapore Exchange. ST Electronics is a global engineering company specialising in the design, development and integration of advanced electronics and communications systems. Our capabilities are in Rail & Intelligent Transportation; Satellite & Broadband Communications; Info Comm Technologies; Command & Control operations, Training & Simulation; Intelligent Building & Security Systems and Cybersecurity. We have a presence in over 20 countries spanning North America, Latin America, Europe, Africa, the Middle East, China, India and Southeast Asia. For more information, please visit www.stengg.com.
ST Engineering (Singapore Technologies Engineering Ltd) 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 more than 100 countries. Its employees bring innovation and technology together to create smart engineering solutions for customers in the defence, government and commercial segments. Headquartered in Singapore, ST Engineering reported revenue of S$6.62b in FY2017 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 and the SGX Sustainability Leaders Index. Please visit www.stengg.com for more information.
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