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.
Port of New Orleans Elect Daniel Packer Chairman
The Board of Commissioners of the Port of New Orleans has elected Daniel F. Packer chairman; also Gregory Rusovich as Vice Chairman, and Scott Cooper as Secretary-Treasurer. Gov. Bobby Jindal appointed Mr. Packer to the Board in January of 2010. He succeeds Mr. Joseph F. Toomy, whose term as chairman expired this month but will continue to serve as a commissioner. Mr. Packer, who will serve a nine-month term as chairman, is a native of Mobile, Ala. He earned a bachelor’s degree…
Keppel Details FY 2011 Results
The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the full year ended 31 December 2011. The FY 2011 Report Card and the Address by Mr Choo Chiau Beng, Chief Executive Officer, are below. I am pleased to announce that 2011 was yet another record year for Keppel Corporation. Our net profit grew by 14% to a new high of nearly $1.5 billion. This is the fifth year running that our net profit has surpassed the $1 billion mark. Also for the fifth consecutive year, our Return on Equity has remained above 20%. Economic Value Added has also increased to $1,024 million for the year. With these strong results, the Board of Directors will be recommending a total distribution to shareholders of 43 cents per share for the whole year.
Keppel Corp. Year End Results for 2010
The Directors of Keppel Corporation Limited advise the following unaudited results of the Group for the full year ended 31 December 2010. The FY 2010 Report Card and the Address by Mr Choo Chiau Beng, Chief Executive Officer, are below. The full set of financial documents for the results and the Address by Mr Teo Soon Hoe, Senior Executive Director and Group Finance Director, are attached and also available for download below. 1. Net profit before exceptional items improved 12% to S$1,419 million, compared to FY 2009's S$1,265 million. 2. Earnings Per Share of 88.7 cents, up 12% from FY 2009's 79.4 cents. 3. ROE remained above 20%. 4. Economic Value Added before exceptional items increased from S$1,026 million to S$1,035 million.
