ST Engineering Divest 50% Stake In Beijing Zhonghuan

 

Singapore Technologies Engineering Ltd (ST Engineering) updated today that further to an earlier announcement made on 28 January 2014, Singapore Technologies Kinetics Ltd has completed the divestment of its 50% equity stake in Beijing Zhonghuan Kinetics Heavy Vehicles Co., Ltd. following the approval by relevant governmental and regulatory authorities.

This divestment 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.