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News & Events

Latest News - January 2005

ST Electronics Increases Investment In Cadmus

Singapore, 25 January 2005 — Singapore Technologies Electronics Limited (ST Electronics), through CET Technologies Pte Ltd (CET), has exercised an option to subscribe for new shares to increase its stake in Cadmus Technology Ltd (Cadmus) from 7.4% to 9.9%. CET is a wholly-owned subsidiary of ST Electronics.

ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd. This share subscription in Cadmus 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.

CET’s exercise of its option to increase its shareholding in Cadmus to 9.9% is part of an earlier agreement approved by Cadmus’ shareholders on 2 October 2003. Cadmus will issue 6,263,514 new shares to CET at NZ$0.18 each for a cash consideration of NZ$1.13 million (approximately S$1.31 million). The consideration for the new shares is based on the average share price for the 35-day period prior to the agreement. The new shares will see CET’s holding return to 9.9% under the agreement.

About Cadmus
Cadmus Technology Limited (NZX: CTL) designs, develops and implements innovative point-of-sale payment solutions for merchant businesses worldwide. The company is New Zealand’s largest manufacturer and exporter of payment terminals, with an increasing customer base developing internationally. The company offers payment and data management solutions, including EFTPOS and data capture terminals, loyalty programs and customer relationship management solutions. Cadmus also provides end-to-end payment solution and data management services for retail, business payment and transactional processing requirements.

CET, a subsidiary of ST Electronics has, over the past two decades built up extensive experience and skills as a leading solutions house in the Asia Pacific region for communications, electronics and intelligent transportation businesses. It has vertically integrated the processes of design development, production, system integration, maintenance and system enhancement to be a one-stop solution house for its customers. Its core business expertise includes mobile solutions and infocomm appliances, intelligent traffic and fleet management systems, integrated communications solutions, radio and radio frequency tagging systems, mobile track & trace systems, as well as infosecurity products and solutions. Please visit www.cet.st.com.sg.

ST Electronics, the electronics arm of ST Engineering, 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. Please visit www.stee.stengg.com.

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$2.95 billion in FY2004. Its market capitalisation of about S$7 billion ranks it among the ten largest companies listed on the Singapore Exchange. ST Engineering has 12,000 employees worldwide, and over 100 subsidiaries and associated companies in 15 countries and 22 cities. Please visit www.stengg.com.

Press Contact:

Magdalen Loh
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 64131788
Fax: (65) 64848840
Email: magloh@stee.stengg.com