Singapore, 17 February 2016 – Singapore Technologies Engineering Ltd (ST Engineering) wishes to announce that its wholly-owned subsidiary, Singapore Technologies Aerospace Ltd (ST Aerospace) has recently received a writ of Summons issued in the Court of Toulouse, France by a number of passenger families against a number of defendants (including ST Aerospace) for losses arising out of an Airbus Air Asia flight from Indonesia to Singapore on 28 December 2014 (the “Claim”).
Neither ST Aerospace nor any of its subsidiaries were providing line maintenance support to Air Asia's fleet at the time and were not therefore asked to assist the Indonesian Accident Investigation Board when it conducted its investigation and issued its final Report in 2015. Accordingly ST Aerospace does not consider that the claim against it has any merit.
The Claim is not expected to have any material impact on the net tangible assets per share and earnings per share of ST Engineering for the financial year ending 31 December 2016.
ST Engineering will make timely announcements where appropriate to keep shareholders informed of material developments in respect of the Claim.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index and MSCI Singapore. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
SVP, Corporate Communications
Tel: (65) 6722 1883