Singapore, 19 June 2018 – Singapore Technologies Engineering Ltd (ST Engineering) updated that further to its announcement on 6 February 2018, its Electronics arm, ST Engineering Electronics Ltd. (ST Engineering Electronics) has completed the set-up of the JV company named Jet-Talk Limited (Jet-Talk) with SatixFy UK Limited.
ST Engineering Electronics has injected its proportional 49% share amounting to US$10m (about S$13m) into the capital of Jet-Talk.
Jet-Talk, which is based in the UK, will develop a state-of-the-art satellite antenna system that delivers enhanced in-flight connectivity for commercial aviation. Through this joint venture business, ST Engineering Electronics seeks to enhance its global access to emerging high growth commercial aviation connectivity market.
The injection of capital 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.
Note to editor:
Following ST Engineering’s group-wide exercise to harmonise all its corporate brands by using "ST Engineering" as its masterbrand, ST Electronics is now known as ST Engineering Electronics. To find out more, visit http://www.stengg.com/news/masterbrand.
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 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.
The Electronics sector specialises in the design, development and delivery of Information and Communications Technology (ICT) products, solutions and services addressing the needs of Smart Cities for Connectivity, Mobility and Security. Its deep technological and engineering expertise straddles business domains in Rail & Road engineering, Satellite Communications, Public Safety & Security, Cybersecurity, Artificial Intelligence, Training & Simulation, Managed Services and Defence C4ISR. It has presence in more than 30 global cities across North America, Latin America, Europe, Africa, the Middle East, China, India and Southeast Asia. For more information, please visit www.stengg.com.
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