Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has applied to the authorities in the People’s Republic of China (PRC) to deregister ST Electronics (Sichuan) Co., Ltd. (STEC). STEC is a wholly owned subsidiary of ST Electronics (Satcom & Sensor Systems) Pte. Ltd., which in turn, is a wholly owned subsidiary of ST Electronics.
The deregistration of STEC is part of an ongoing review to streamline operations and to optimise resources for ST Electronics’ sensor and satellite related businesses. STEC’s primary operations as a production house for sensor and satellite related radio frequency and electronic products have been consolidated into ST Electronics (Satcom & Sensor Systems) Pte. Ltd.’s operations in Singapore.
The deregistration of STEC 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.