Singapore, 5 January 2017 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has streamlined its entities through a short-form amalgamation under Section 215D of the Singapore Companies Act.
1. Knowledge Alive Pte. Ltd. (KAPL) and COMAT Training Services Pte. Ltd. (COMAT) are amalgamated with ST Electronics (e-Services) Pte. Ltd. (STEE-eServ). The assets and personnel of KAPL and COMAT have been transferred to STEE-eServ, as the surviving entity.
2. ST Education & Training Private Limited (STET) and STET Maritime Pte. Ltd. (STET Mar) are amalgamated with ST Electronics (Training & Simulation Systems) Pte. Ltd. (STEE-T&S). The assets and personnel of STET and STET Mar including STET’s 100% shareholding in its subsidiary STET Homeland Security Services Pte. Ltd. (STET HLS) have been transferred to STEE-T&S, as the surviving entity.
The Certificates of Confirmation of Amalgamation have been received from the Accounting and Corporate Regulatory Authority and both the amalgamations took effect on 1 January 2017. Business will continue seamlessly with STEE-eServ, STEE-T&S and STET HLS as wholly-owned subsidiaries of ST Electronics.
This exercise is a result of ongoing business review to streamline capabilities and consolidate resources within the electronics 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 Electronics (Singapore Technologies Electronics Limited) is the electronics arm of Singapore Technologies Engineering Ltd, one of the largest public-listed companies on the Singapore Exchange. ST Electronics is a global engineering company specialising in the design, development and integration of advanced electronics and communications systems. Our capabilities are in Rail & Intelligent Transportation; Satellite & Broadband Communications; Info Comm Technologies; Command & Control operations, Training & Simulation; Intelligent Building & Security Systems and Cybersecurity. We have a presence in over 20 countries spanning North America, Latin America, Europe, Africa, the Middle East, China, India and Southeast Asia. For more information, please visit www.stee.stengg.com.
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 $6.34b in FY2015 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. 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.
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