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News & Events

Archive News - July 2004

SES Systems Invests in Sandz Solutions

SINGAPORE, 2 July 2004 — Singapore Technologies Electronics Limited (ST Electronics) today announced that its subsidiary, SES Systems Pte Ltd (SES Systems), has subscribed for a 25% equity shareholding in Sandz Solutions (Singapore) Pte Ltd (Sandz) for a consideration of S$2 million. The purchase consideration for the investment was derived on the basis of the company’s profits and future prospects, which was mutually agreed upon with the existing shareholders.

Sandz provides core solution products and expertise in the field of High Performance Computing, Business Performance Computing, Enterprise Storage Solutions, Storage Area Network and Live Sciences to customers. It targets markets in the financial services, government and telecommunications industries. Sandz’s products and services complement SES Systems’ software solutions and SES Systems’ investment into Sandz will extend SES Systems’ marketing network in Asia.

“SES Systems has established itself as a leading mission-critical software system company in the region, with installations both in Singapore and Hong Kong. Through Sandz, we seek to leverage on its channel coverage and business networks particularly in the Philippines and Indonesia to accelerate our penetration and growth in this region.”

~ Mr Chang Yew Kong
President, SES Systems

ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd (ST Engineering) which is listed on the Singapore Exchange. This subscription by SES Systems in Sandz 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.

About Sandz
Sandz is a Pan-Asian regional enterprise storage solutions provider dedicated to the distribution of the industry's most advance products and provision of professional services in Information Technology with alliances to leading IT companies like EMC, IBM, SGI, ADIC, Oracle, Virage, HYPERION, and Alias Wavefront. Sandz specializes in solutions which include digital media, enterprise storage, high performance computing and business performance management. Sandz is headquartered in Singapore, and has regional offices in Philippines, Malaysia, Indonesia and China.

About SES Systems
SES Systems, a wholly-owned subsidiary of ST Electronics, started operations in 1986 and has since emerged as the leading systems house in the region for mobile/real-time decision support systems. A key C2I (Command, Control & Intelligence) solutions provider, SES Systems focuses primarily on providing superior Defence C2I applications, Homeland Security systems and Enterprise solutions to both civil and defence customers worldwide. SES’ activities range from consultancy to design, development, systems integration, commissioning and life-cycle support of operational systems.

ST Electronics delivers innovative system solutions to defence, commercial and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband RF & microwave communication, rail & traffic management, real-time command & control, training & simulation, intelligent building management, and information security and m-commerce solutions. ST Electronics applies leading edge technologies and design methodologies to meet the stringent requirements of customised electronics systems and solutions. It undertakes continuing research and development to help create cost-effective proprietary products at system and component levels providing quality solutions to customers.

ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of S$2.82 billion in FY2003. Its market capitalisation of about S$6 billion ranks it among the ten largest companies listed on the Singapore Exchange. ST Engineering has 12,000 employees worldwide, and over 100 subsidiaries in 15 countries and 22 cities.

Media Contact:

Magdalen LOH
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 6413-1788
Fax: (65) 6484-8840
Email: lohlmm@stee.st.com.sg