ST Engineering Invests In Cyber Security
Singapore Technologies Engineering Ltd (ST Engineering) announced that its Corporate Venture Capital unit, ST Engineering Ventures Pte Ltd (ST Engineering Ventures) has made a Series B investment of $5.79m for a minority interest in Janus Technologies, Inc., an endpoint cyber security provider based in California. “This is the first investment by our Corporate Venture Capital unit in companies with cutting edge technologies or breakthrough innovations,” said Vincent Chong, President & CEO of ST Engineering. The Group has identified cyber security, along with robotics, autonomous technology, and data analytics as strategic capabilities that it will invest in to create long term value and growth.
ST Engineering Raises Cap In STET
Singapore Technologies Engineering Ltd (ST Engineering) announced today that ST Education & Training Private Limited (“STET”) has increased its issued and paid up capital from S$1m to S$2m. This increase in paid-up capital is by way of a bonus issue of 1,000,000 ordinary shares of S$1 each. This bonus issue is based on the ratio of one new share for every one existing share by way of capitalisation of the revenue reserve account. STET is 70% owned by ST Electronics (Training & Simulation Systems) Pte. Ltd., a wholly owned subsidiary of Singapore Technologies Electronics Limited, the electronics arm of ST Engineering. The bonus shares, when issued will rank pari passu in all respects with the existing issued ordinary shares of S$1 each in the capital of STET.
ST Engineering Increase Stakes in Mexican JV
Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has subscribed to a capital call of MXN7.5m (about S$0.7m) from GFM Electronics S.A. de C.V. (GFM Electronics). This additional capital subscription increases ST Electronics’ shareholding in GFM Electronics from 50% to 51%, resulting in GFM Electronics becoming a subsidiary of ST Electronics. Upon completion of the capital injection, the issued and paid up capital of GFM Electronics will be increased from MXN34.7m (about S$3.3m) to MXN49.9m (about S$4.7m). GFM Electronics, formed in 2000 by ST Electronics and Grupo Ferrominero, S.A de C.V.
ST Electronics Establishes Brazilian Subsidiary
Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has set up a subsidiary, ST Electronics do Brasil Serviços e Soluções em Sistemas Eletronicôs Ltda, in Brazil. ST Electronics holds 99% stake in the new subsidiary, with the remaining 1% stake held by its wholly owned subsidiary, ST Electronics (SatCom & Sensor Systems) Pte. Ltd. ST Electronics do Brasil Serviços e Soluções em Sistemas Eletronicôs Ltda, based in Sao Paulo, will have a paid up capital of US$2m (about S$2.55m). Brazil is an important emerging economy and the setting up of the Brazilian subsidiary marks an important step forward in ST Electronics’ marketing strategy for entry into that market.
Singapore Navy Patrol Boat Order for ST Engineering
Singapore Technologies Engineering wins Ministry of Defence (MINDEF) contract for the design & build of eight new vessels. The Group’s marine arm, Singapore Technologies Marine Ltd (ST Marine) will build the eight vessels at its Singapore Benoi Yard. Singapore Technologies Electronics Limited (ST Electronics), the Group’s electronics arm, will supply the core combat systems and combat system integration solutions. ST Marine will carry out the platform system integration as the lead system integrator.
