News - ST Engineering’s Marine Arm Completes Liquidation of Hovertrans Solutions

Search ST Engineering

English
AA

ST Engineering’s Marine Arm Completes Liquidation of Hovertrans Solutions

Singapore, 19 March 2018 – Singapore Technologies Engineering Ltd (ST Engineering) today updated that further to its announcement on 28 February 2017, Hovertrans Solutions Pte. Ltd., a joint venture company between its marine arm, Singapore Technologies Marine Ltd and its partners, Hovertransport Consultants Ltd, Clearstone Investments LLC and Oasis Marine Consultants Pte. Ltd., was dissolved with effect from today, following its application of members’ voluntary winding up pursuant to Section 290(1)(b) of the Companies Act, Chapter 50.

This dissolution 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 and sustainable solutions in the marine, offshore and environmental engineering industries. In shipbuilding, it has the proven capabilities in concept definition to detailed design, construction, on-board system installation and integration, commissioning to through-life support. It has also established a track record in providing high engineering content repair and conversion services for a worldwide clientele. ST Marine also provides sustainable environmental engineering solutions to meet the increasing global demand for innovative green solutions in water, wastewater, solid waste and renewable energy. Please visit www.stengg.com for more information.

 ST Engineering (Singapore Technologies Engineering Ltd) is an integrated defence and 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, ST Engineering reported revenue of S$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.

Media contact:          

Lina Poa
Head, Corporate Communications
ST Engineering
Tel: (65) 6722 1818
Email: linapoa@stengg.com

Chao Jang Ting
AVP, Corporate Communications
ST Engineering
Tel: (65) 6722 1690
Email: chao.jangting@stengg.com

 

Top