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Singapore, 18 February 2005 — Singapore Technologies Electronics Limited (ST Electronics), has acquired 50.05% equity in Chartered Electro-Optics Pte Ltd (CEO) from Singapore Technologies Electronics Holdings Pte Ltd, a wholly owned subsidiary of Temasek Holdings (Private) Limited, for a cash consideration of S$2.75m. The purchase consideration for the investment was derived on the basis of the company’s profits and future prospects. ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd (ST Engineering).
This investment in CEO 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.
The investment will enhance ST Electronics’ ability to offer a comprehensive suite of products and applications that exploit the electro-magnetic spectrum ranging from high-frequency microwave transceivers and sensors and VHF/UHF radios, to IR imaging and laser systems.
"CEO has established itself as a premier electro-optics house. ST Electronics and CEO have been working closely together for the last 10 years, not only for defence applications but also on the commercial front. An example was the joint development of the IFss (Infrared Fever Screening System) to combat SARS in 2003. This investment will further cement that relationship." ~ SEAH Moon Ming |
About CEO
CEO was established in 1994 and has become a leading electro-optics (EO)
application solutions provider in the local and regional markets. CEO’s technical capabilities in EO technologies
are used in applications such as thermal imaging, long range surveillance,
range finders, thermal vision for fire fighters and night security surveillance
for petrochemical complexes. Products range from cooled and uncooled handheld
thermal imagers, weapon night sights, helmet mounted sights, thermal imager
based surveillance systems for homeland security, border control, airports,
seaports and oil refineries. With a wide spectrum of designing and engineering
capabilities in system engineering, electronics, mechanical and optics, CEO
integrates, manufactures, maintains and provides comprehensive EO solutions
and systems. Please visit www.ceo.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 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.
Media Contact:
Magdalen Loh
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 64131788
Fax: (65) 64848840
Email: magloh@stee.stengg.com
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