Singapore, 25 November 2016 Singapore Technologies Engineering Ltd (ST Engineering) announced today that Securedge Pte. Ltd. (Securedge), a subsidiary of its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has been placed under members voluntary liquidation.
The liquidation of Securedge is part of ST Kinetics ongoing review to streamline its businesses and consolidate resources.
This exercise 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 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.
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