Singapore, 23 September 2016 – Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics) has injected S$3.3m into its subsidiary, SDG Kinetics Pte Ltd (SDGK), for a planned capital injection of S$3.3m (approximately INR162m) into LeeBoy India Construction Equipment Private Limited (LeeBoy India). This is to provide working capital for LeeBoy India’s operations in India.
This brings SDGK’s total investment in LeeBoy India to INR1,641.8m (approximately S$38m).
LeeBoy India is headquartered in Bangalore, India. It designs and manufactures high performance road construction and excavation equipment that enhances the operational efficiency and productivity of companies in the infrastructure sector.
The capital increase 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 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 customised 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.
SVP, Corporate Communications
Tel: (65) 6722 1883
AVP, Corporate Communications
Tel: (65) 6722 1881 / 6660 7358