Archive News in Year 2009

December 2009

ST Engineering Increases Stake In Mäk Technologies, Inc.

Singapore, 24 December 2009 — Singapore Technologies Engineering Ltd (ST Engineering) today announced that its US company, Vision Technologies Kinetics, Inc. (VTK), has acquired an additional 10% equity stake in the US-based MÄK Technologies, Inc. (MÄK) from one of the individual shareholders, Mr John Morrison, who has left the management team of MÄK to pursue his own interests. The purchase consideration of US$215,297 (about S$298,000) was arrived at on a willing buyer willing seller basis, based on the audited financial statements of MÄK for the fiscal year ended 31 December 2008. With this additional purchase, MÄK becomes a 90% owned subsidiary of ST Engineering. The remaining 10% equity stake is owned by an individual shareholder, Mr Warren Katz who is currently the CEO of MÄK. VTK is a subsidiary of Vision Technologies Systems, Inc (VTS), the US headquarters of ST Engineering.

The additional investment in MÄK 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.

MÄK is a world leader in simulation software that links, simulates and visualises the virtual worlds in a networked synthetic environment. The company builds commercial off-the-shelf simulation tools and toolkits that are used in developing trainers and simulators, from sophisticated networked mission training simulators to desk-top training simulations. MÄK is involved in the research and development of the latest simulation technologies and provides customised simulation solutions to its customers. Its customer base includes industry leading companies such as BAE, Boeing, Lockheed Martin, Raytheon and Thales.

MÄK (MÄK Technologies, Inc.) was founded in 1990 and develops software to link, simulate and visualize the virtual world. The company creates tools and toolkits for distributed simulations, develops PC-based military tactical trainers, crafts custom solutions, and researches and develops the latest simulation technologies. Please visit www.mak.com.

ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $5.34b in FY2008 and ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 20,000 employees worldwide, and over 100 subsidiaries and associated companies in 24 countries and 42 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