Singapore Technologies Engineering Ltd (ST Engineering) updated that further to its announcement on 6 February 2018, its Electronics arm, ST Engineering Electronics Ltd. (ST Engineering Electronics) has completed the set-up of the JV company named Jet-Talk Limited (Jet-Talk) with SatixFy UK Limited.
ST Engineering Electronics has injected its proportional 49% share amounting to US$10m
(about S$13m) into the capital of Jet-Talk.
Jet-Talk, which is based in the UK, will develop a state-of-the-art satellite antenna system
that delivers enhanced in-flight connectivity for commercial aviation. Through this joint venture business, ST Engineering Electronics seeks to enhance its global access to emerging high growth commercial aviation connectivity market.
The injection of capital 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.
fotr more information please visit: http://www.stengg.com/news/masterbrand.
