Singapore, 11 October 2019 – Singapore Technologies Engineering Ltd (ST Engineering) announced that its Marine arm has sold its Roll-on/ Roll-off Passenger Vessel (ROPAX), MV Nova Star to Polish ferry operator, Polferries.
The vessel has been on a bareboat charter to Polferries since September 2018 and is deployed in the Gdańsk-Nynäshamn route. The charterer has since exercised a purchase option to be effective today.
MV Nova Star was designed and built by ST Engineering and is equipped with passenger lounges and cabins, restaurants and bars, and a summer deck. The 1,215-passenger vessel is also designed for the carriage of trailers and cars.
The sale of the ROPAX 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 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 Marine sector provides turnkey and sustainable solutions to a worldwide clientele in the marine, offshore and environmental engineering industries. In shipbuilding, it has proven capabilities from conception to detailed design, construction, on-board system installation and integration, commissioning to through-life support. It has also established a track record in high engineering content repair and conversion services. Its deep engineering expertise in large-scale engineering serves the increasing global demand for innovative green solutions in water, wastewater, solid waste and renewable energy. Please visit www.stengg.com for more information.
Head, Corporate Communications & Investor Relations
Tel: (65) 6722 1818
AVP, Corporate Communications
Tel: (65) 6722 1853