Singapore Technologies Engineering Ltd (ST Engineering), today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has streamlined its entities through a short-form amalgamation under Section 215D of the Singapore Companies Act.
With effect from 1 May 2018, STELCOMMS Pte Ltd (STELCOMMS) is amalgamated with ST Electronics (Info-Comm Systems) Pte Ltd (STEE-InfoComm). The Certificate of Confirmation of Amalgamation has been received from the Accounting and Corporate Regulatory Authority, with the assets and personnel of STELCOMMS transferred to STEE-InfoComm as the surviving entity after the amalgamation. Business will continue seamlessly with STEE-InfoComm as a subsidiary of ST Electronics.
This exercise is a result of ongoing business review to streamline capabilities and consolidate 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.
For more information, please visit www.stengg.com.