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Latest NewsSeptember 2007ST Electronics To Divest Shares In Associated Company, InfoWave Pte Ltd Singapore, 10 September 2007 — Singapore Technologies Electronics (ST Electronics) today announced that ST Electronics (Info-Comm Systems) Pte. Ltd. (STEE-InfoComm) has entered into an agreement to sell its entire 43% equity stake in InfoWave Pte Ltd (InfoWave) to InfoWave’s major shareholder, Melodeon International Limited, for S$3.9m in cash. The consideration was made on a willing buyer, willing seller basis. ST Electronics is the electronics arm of ST Engineering. The sale of shares in InfoWave 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. STEE-InfoComm invested in InfoWave in 2002 and the total cost of investment was S$3.0m. The decision for the sale is a result of an on-going rationalisation exercise to streamline ST Electronics’ portfolio of associated companies, and to re-allocate management attention and resources to new growth initiatives. Consequent to the sale, InfoWave will cease to be an associated company of STEE-InfoComm. InfoWave, founded in 2002, is a leading provider of telematics products, solutions and services. InfoWave offers an array of easy-to-use, rugged, and customisable products including mobile data acquisition, mobile data terminals, and advanced mobile terminals. InfoWave is committed to helping its customers in the transportation, logistics, public safety, and homeland security and defence industries to enhance the productivity, quality and responsiveness of their operations. Headquartered in Singapore, InfoWave has a distribution network that spans across Asia Pacific, Europe, and Middle East. 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, realtime command & control, training and simulation, intelligent building management, information security solutions and managed services. Please visit www.stee.stengg.com. Media contact:Magdalen Loh
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