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Singapore, 2 August 2005 — Singapore Technologies Electronics Limited (ST Electronics) has incorporated a wholly-owned subsidiary, STET Maritime Bureau Pte Ltd (STET Maritime Bureau) through ST Education & Training Private Limited (STET). STET is 70% owned by ST Electronics (Training & Simulation Systems) Pte Ltd, a wholly-owned subsidiary of ST Electronics. ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd (ST Engineering).
The incorporation of STET Maritime Bureau 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.
STET Maritime Bureau is incorporated with an initial paid up capital of S$500,000. It will focus on commercial marine survey and consultancy services in marine and port operations, including modeling simulation for port development. STET Maritime Bureau will provide statutory marine surveys and audits, representing Government Maritime Administration and Authorities and strive towards becoming a maritime Classification Society.
By setting up STET Maritime Bureau, STET aims to expand into maritime survey, audit and consultancy services. It adds to its existing business to provide a one-stop service centre to the maritime and shipping industry.
STET, a subsidiary of ST Electronics (Training & Simulation Systems) Pte Ltd (STEE-T&S), is a leading company in Education, Training, Management and Consultancy services in maritime, aerospace and land industries. It is also a strategic training partner of the Republic of Singapore Navy (RSN) and a leading service provider in maritime & homeland security in this region. STEE-T&S offers one-stop solutions from software applications and development of new innovative training systems to providing maintenance and upgrade of legacy training systems. It is a recognised leader in the field of training and simulation in both the commercial and defense sectors.
ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to commercial, defence, and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband radio frequency and microwave communication, e-government solutions, rail and traffic management, real-time command & control, training and simulation, intelligent building management, and information security and mobile 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 both system and component level to provide 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 more than 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) 6413-1788
Fax: (65) 6484-8840
Email: magloh@stee.stengg.com
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