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Singapore, 7 October 2005 — Singapore Technologies Electronics Limited (ST Electronics) announced that Sandz Solutions (Singapore) Pte Ltd (Sandz), a 25% associated company of ST Electronics (Info-Software Systems) Pte Ltd (STEE-InfoSoft), has incorporated a wholly-owned subsidiary, Sandz Solutions (HK) Pte Ltd (Sandz-HK) in Hong Kong. STEE-InfoSoft is a wholly-owned subsidiary of Singapore Technologies Electronics Limited (ST Electronics), the electronics arm of ST Engineering.
The incorporation of Sandz-HK 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.
Sandz-HK will provide Sandz a platform and a focused effort to launch its products and services, namely the Digital Media Solution, Enterprise Storage Solutions, High Performance Computing and Business Performance Management, into the Hong Kong market. Sandz-HK along with Sandz’s Shanghai subsidiary will play an integral role in the overall growth strategy for Sandz in the Greater China region.
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 specialises in solutions that 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.
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 satellite 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. Its subsidiary, ST Electronics (Info-Software Systems) is a key C2I (command, control & intelligence) solutions provider, focusing primarily on providing superior defence C2I applications, homeland security systems and enterprise solutions to both civil and defence customers worldwide. 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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