ST Engineering Streamlines Its Entities
Singapore Technologies Engineering Ltd (ST Engineering) today announced that Visiontech Investment Pte Ltd (Visiontech Investment), a wholly owned subsidiary of ST Engineering’s aerospace arm, Singapore Technologies Aerospace Ltd, has applied to the Accounting and Corporate Regulatory Authority in Singapore to strike off its name from the Register of Companies pursuant to Section 344 of the Companies Act, Chapter 50. Visiontech Investment was incorporated in 1990 and has been a dormant company since 2008.
Meanwhile, Vision Technologies Aerospace Incorporated (VT Aerospace), a wholly owned subsidiary of Vision Technologies Systems, Inc. (VT Systems), the US headquarters of ST Engineering, has converted ST Aerospace San Antonio, L.P. to a corporation and renamed it as 'VT San Antonio Aerospace, Inc.' ("VT SAA"). Subsequent to the conversion, San Antonio Aerospace GP, LLC. was merged with and into VT SAA, and as the sole surviving entity following the merger, VT SAA has become 100% owned by VT Aerospace. Business continues seamlessly under VT SAA.
The above developments are 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.