Singapore, 15 September 2016–Singapore Technologies Engineering Ltd (ST Engineering) announced today that SDG Kinetics Pte. Ltd. (SDGK) and Autonomous Technology Pte Ltd (ATPL), subsidiaries of its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), have injected BRL7,999,200 (approximately S$3m) and BRL800 (approximately S$298) respectively into the capital of LeeBoy Brazil Equipamentos De Construção Ltda. (LeeBoyBrazil), as working capital for LeeBoy Brazil’s operations in Brazil. This equity injection increases SDGK and ATPL’s total investment in LeeBoy Brazil to BRL40.0m (approximately S$20m).
ST Kinetics has correspondingly injected S$3m into the capital of SDGK as funding for SDGK’s capital injection into LeeBoy Brazil. LeeBoy Brazil was incorporated in 2013 to establish a manufacturing base in Brazil to further grow the market presence of the LeeBoyTM brand of road construction equipment in Brazil and throughout Latin America.
The injection of capital is not expected to have any material impact on the consolidated net tangible asset per share and earnings per share of ST Engineering for the current financial year.
ST Kinetics (Singapore Technologies Kinetics Ltd) is the land systems arm of ST Engineering, an integrated engineering group. With 50 years of engineering expertise behind us, we are driven by a passion for innovation and work with partners and customers to deliver customized land systems and security solutions that meet the stringent operational requirements of defence, homeland security and commercial customers. Headquartered in Singapore, ST Kinetics employs a skilled workforce of some 5,000 people, 70% of whom are in engineering and technical roles, to support customers in over 40 countries. We are the world leader in niche products such as 40mm munitions. In FY2015, ST Kinetics recorded revenue of S$1.4b. Please visit www.stengg.com for more information.
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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AVP, Corporate Communications
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