St Engineering's Land Systems Arm Inject Capital in Brazil

By Joseph R. Fonseca
Saturday, August 16, 2014

 

Singapore Technologies Engineering Ltd (ST Engineering) announced today that SDG Kinetics Pte. Ltd. (SDGK) and Autonomous Technology Pte Ltd (ATPL), wholly owned subsidiaries of its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), have injected BRL5,499,450 (approximately S$3.2m) and BRL550 (approximately S$318) respectively into the capital of LeeBoy Brazil Equipamentos De Construção Ltda. (LeeBoy Brazil), as working capital for LeeBoy Brazil’s operations in Brazil. This equity injection increases SDGK and ATPL’s total investment in LeeBoy Brazil to BRL28.5m (approximately S$15.7m).

ST Kinetics has correspondingly injected approximately S$3.2m into the capital of SDGK as funding for SDGK’s capital injection into LeeBoy Brazil. LeeBoy Brazil was incorporated in 2013 to establish a manufacturing base in Brazil to further grow the market presence of the LeeBoy™ brand of road construction equipment in Brazil and throughout Latin America.

The injection of capital is not expected to have any material impact on the consolidated net tangible asset per share and earnings per share of ST Engineering for the current financial year.

ST Kinetics (Singapore Technologies Kinetics Ltd) is the land systems and specialty vehicles arm of Singapore Technologies Engineering Ltd. It is one of Asia’s leading land systems and specialty vehicles companies, delivering smart engineering solutions since 1967 for the commercial, defence and homeland security markets. With 7,000 employees worldwide and revenue of over S$1.48b in FY2013, ST Kinetics delivers products and solutions to end users in more than 40 countries around the world; helping to maintain the peace of nations and increasing the productivity of businesses involved in earthmoving, road construction and goods distribution. Please visit www.stengg.com for more information.

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 revenue of S$6.63b in FY2013 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Sunken Japanese WWII Battleship Found

Seventy years after the conclusion of World War II, philanthropist and entrepreneur Paul G. Allen has located the Musashi, one of the two largest and most technologically

ThyssenKrupp Says Submarines Part of Growth Story

Germany's Thyssenkrupp sees its submarine business as making an important contribution to its growth targets, the head of its Industrial Solutions business area said on Tuesday.

Added Value Innovation Drives Control of BWTS

Specifying for ballast water treatment systems can be a difficult process. Ian Hamilton, sales manager for marine electrical wiring control and instrumentation specialists CMR Group, offers guidance.

Marine Electronics

INTERSCHALT Expands Africa, Asia Service Networks

INTERSCHALT maritime systems AG, the provider of maritime software, services and supplier of Voyage Data Recorders (VDR 4G[e] and s-VDR) has expanded its network

G&D Launches US Subsidiary

German KVM company Guntermann & Drunck GmbH (G&D) announced it will distribute its equipment from new U.S. subsidiary G&D North America Inc. in Miami, Fla.      With

VesselVanguard Partners with Hatteras Yachts

VesselVanguard announced today a new partnership with Hatteras Yachts to provide a five-year subscription for its award-winning maintenance management solution

Energy

BG Group's Australian Project Helping to Double LNG Supplies

A smooth start to operations at BG Group's Australian project in Queensland is expected to help the British company to roughly double its liquefied natural gas (LNG) supplies in 2015/16,

Seadrill: Rig Rates Have Not Bottomed

The market for oil and gas drilling rigs continues to deteriorate as oil companies cut back on investments, Seadrill Chief Financial Officer Rune Magnus Lundetrae

Ghana-Ivory Coast Maritime Dispute Mar Tullow

A dispute over maritime boundaries between Ghana and Ivory Coast is damaging Tullow Oil, which risks postponement of its TEN project in the waters off Ghana's coastline.

News

Fire Aboard US Navy Ship

A fire broke out aboard a U.S. Navy amphibious dock landing ship USS Gunston Hall (LSD 44) at approximately 2 p.m. yesterday while the ship was undergoing maintenance

Wheelabrator Opens Ontario Location

Surface preparation company Wheelabrator Group (Canada) Ltd. celebrated its grand opening with a ribbon cutting ceremony and luncheon after moving to a new location and office complex in Burlington,

Ten Migrants Die in Mediterranean, a Thousand Rescued

At least 10 North African migrants died when their rubber boat overturned in the southern Mediterranean while almost a thousand more from a total of seven vessels

Marine Science

Africa Should Tap its Maritime Resources: IMO

The huge potential of the oceans and the maritime industry to assist in the development of the African continent has already been noted, International Maritime

VesselVanguard Partners with Hatteras Yachts

VesselVanguard announced today a new partnership with Hatteras Yachts to provide a five-year subscription for its award-winning maintenance management solution

Rescue 21 Achieves 'SOLAS' Declaration from DHS

The U.S. Coast Guard is declaring 'Sea Area A1' service in certain areas off the coast of the United States based on the performance of the General Dynamics-built Rescue 21 system.

 
 
Maritime Security Maritime Standards Navigation Pod Propulsion Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2244 sec (4 req/sec)