Singapore, 12 May 2017 – Singapore Technologies Engineering Ltd (ST Engineering) announced the following relating to its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics):
1. A capital injection of S$7.0m (about INR320m), into LeeBoy India Construction Equipment Private Limited (LeeBoy India), through its subsidiary, SDG Kinetics Pte Ltd (SDGK). The capital injection has been effected through the conversion of existing intercompany loans.
The fund injection brings SDGK’s total investment in LeeBoy India to INR1,950m (approximately S$44.3m).
2. The striking off of Silvatech Systems Corporation Pte Ltd from the Register, pursuant to Section 344 of the Companies Act, Chapter 50 following its application to the Accounting and Corporate Regulatory Authority, as announced on 30 December 2016.
The above actions are 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 Kinetics (Singapore Technologies Kinetics Ltd) is the land systems arm of ST Engineering, an integrated engineering group. With 50 years of engineering expertise behind us, we are driven by a passion for innovation and work with partners and customers to deliver customised land systems and security solutions that meet the stringent operational requirements of defence, homeland security and commercial customers. Headquartered in Singapore, ST Kinetics employs a skilled workforce of some 5,000 people, 70% of whom are in engineering and technical roles, to support customers in over 40 countries. We are the world leader in niche products such as 40mm munitions. In FY2016, ST Kinetics recorded revenue of S$1.3b. Please visit www.stengg.com for more information.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group specialising in the aerospace, electronics, land systems and marine sectors. It has global presence with offices in Asia, the Americas, Europe and the Middle East and employs about 22,000 employees. Across the globe, its employees bring innovation and technology together to create smart engineering solutions for its customers in the defence, government and commercial segments. Headquartered in Singapore, the Group reported revenue of $6.68b in FY2016 and 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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