Singapore, 31 August 2018 – Singapore Technologies Engineering Ltd (ST Engineering) announced that it has streamlined its entities at the Land Systems sector through a short-form amalgamation under Section 215D of the Singapore Companies Act.
With effect from 1 September 2018, ST Kinetics Integrated Engineering Pte Ltd (KIE) is amalgamated with ST Engineering Land Systems Ltd., which is the surviving entity after the amalgamation.
This exercise is a result of ongoing business review to streamline and consolidate resources in the Land Systems 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 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 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, SGX ESG Transparency Index and SGX ESG Leaders Index. For more information, visit www.stengg.com.
The Land Systems sector offers advanced and customised land systems and security solutions which have been proven to meet the stringent operational requirements of its customers. We design, manufacture and distribute armoured, autonomous and specialty vehicles, munitions and weapons, as well as robotics and unmanned systems.
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