ST Engineering’s Electronics Arm Liquidates Subsidiary
Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has placed its indirect wholly owned subsidiary, ST Electronics (Software Services) Co., Ltd. under member’s voluntary liquidation.
This liquidation is a result of ongoing business review to streamline capabilities and optimise 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 is the electronics arm of ST Engineering, an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors, headquartered in Singapore. The electronics arm specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, information communications technologies etc.
Press Release, December 13, 2013; Image: