Singapore Technologies Engineering Ltd. : ST Engineering's Electronics Arm Transfers Ownership And Renames Subsidiary, ST Electronics (Digital Media) Pte. Ltd.
January 08, 2014 at 04:59 am
By
Share
ST Engineering's Electronics Arm Transfers Ownership And Renames Subsidiary, ST Electronics (Digital Media) Pte. Ltd.
Singapore, 8 January 2014 - Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has restructured the ownership of ST Electronics (Digital Media) Pte. Ltd. (STEE-DM). ST Electronics (Training & Simulation Systems) Pte. Ltd. has transferred all its shareholding in STEE-DM to ST Electronics for a consideration of S$2.3m. The consideration was arrived at based on the Net Tangible Assets of STEE-DM. The restructuring of STEE-DM is a result of an ongoing business review to enhance capabilities within the electronics sector.
Consequent to the transfer, ST Electronics owns 100% stake in STEE-DM and has also injected additional share capital of S$1.7m into the company and renamed it ST Electronics (Enterprise1) Pte. Ltd.
ST Electronics (Enterprise1) Pte. Ltd. will operate as a distributor/value-added reseller, offering one-stop enterprise system integration solutions including hardware, software and professional services.
The restructuring of STEE-DM 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 owns 100% of ST Electronics (Training & Simulation Systems) Pte. Ltd.
ST Electronics(Singapore Technologies Electronics Limited), the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. With a presence in more than 20 countries, ST Electronics markets its solutions to more than 100 countries internationally. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command and control, modelling and simulation, eLearning & interactive digital media, training services, intelligent building management and information security.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 audited revenue of S$6.380b in FY2012 and ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 23 countries and 41 cities.www.stengg.com.
Media contacts:
Lina Poa SVP, Corporate Communications ST Engineering Tel: (65) 6722 1883 / 9696 5453 Email: linapoa@stengg.com
Singapore Technologies Engineering Ltd is a Singapore-based global technology, defense and engineering company. The Company operates through a diverse portfolio of businesses across the aerospace, smart city, defense and public security segments. The Companyâs segments include Commercial Aerospace, Urban Solutions & Satcom, and Defence & Public Security. The Commercial Aerospace includes airframe, engine and components maintenance, repair and overhaul, original equipment manufacturer for nacelles, composite floorboard and passenger-to-freighter conversions and aviation asset management. The Urban Solutions & Satcom includes smart mobility, smart utilities and infrastructure, urban environment solutions and satcom. Defence & Public Security includes public safety and security, critical information infrastructure solutions, control systems, cryptographic technology design and cybersecurity. It comprises defense business areas, such as digital systems and cyber, land systems, and more.
Singapore Technologies Engineering Ltd. : ST Engineering's Electronics Arm Transfers Ownership And Renames Subsidiary, ST Electronics (Digital Media) Pte. Ltd.
SINGAPORE TECHNOLOGIES ENGINEERING LTD 
By 
