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Latest NewsMarch 2006ST Electronics Invests In E-Training Company Singapore, 14 March 2006 — Singapore Technologies Electronics Limited (ST Electronics) today announced that it has, through its subsidiary ST Electronics (Training & Simulation Systems) Pte Ltd (STEE-T&S), acquired a 51% equity stake in Brightspot Interactive Learning Pte Ltd (BIL) for US$2.1m (approximately S$3.41m) from founders, Mr Chou Chung Keng and Ms Lang Yan Xia. Following this acquisition, BIL becomes a 51% subsidiary of STEE-T&S, while the remaining 49% interest in BIL will be held by Mr Chou and Ms Lang in the proportion of 39.2% and 9.8% respectively. ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd (ST Engineering). The purchase consideration was arrived at after taking into account BIL's past performance, current profitability and future prospects. The acquisition 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. BIL is incorporated in Singapore and is in the business of e-training. It has a wholly owned subsidiary in China that is a fully integrated e-training solutions provider. Its key customers are corporations, academic institutions and individuals. It develops its own e-training content and platform and provides the e-training products and services via the Internet or satellite. This investment in BIL is in line with STEE-T&S' strategy to grow its e-training business in China.
ST Electronics (Training & Simulation Systems) Pte Ltd (STEE-T&S), a wholly-owned subsidiary of ST Electronics, develops, manufactures and markets advanced computer graphic software and solutions for simulation, visualisation, digital media and various industry applications. It applies leading edge technologies and design methodologies to meet the stringent requirements of customised electronics systems and solutions. ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to government, 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, information communications technologies, rail and traffic management, real-time command & control, training and simulation, intelligent building management, and information security and mobile commerce solutions. 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 $3.34b in FY2005. Its market capitalisation of over $8b ranks it among the largest companies listed on the Singapore Exchange. ST Engineering has about 14,000 employees worldwide, and over 100 subsidiaries and associated companies in 17 countries and 29 cities. Please visit www.stengg.com. Media contact:Magdalen Loh
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This investment in BIL is in line with STEE-T&S' strategy to develop its e-training business in China. BIL augments the group's offering through its contribution in the form of tools, content and expertise.
Eric CHAN,
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