Archive News in Year 2010

July 2010

ST Electronics Increases
Stake In Telematics Wireless Ltd

Singapore, 16 July 2010 – Singapore Technologies Electronics Limited (ST Electronics) today announced that its wholly owned subsidiary, ST Electronics (Info-Comm Systems) Pte. Ltd. (STEE-InfoComm), has increased its Stake in Telematics Wireless Ltd (Telematics) by 2.73% for a total consideration of US$2.16m (about S$3.07m). The consideration was arrived at on a willing buyer willing seller basis, taking into account Telematics’ past performance, profitability and future prospects. The stake increase follows the exercise of put options by the minority shareholders of Telematics pursuant to the Call and Put Option Agreement entered into between STEE-Infocomm and the minority shareholders on 15 November 2007. With this increase, STEE-InfoComm owns 96.66% Stake in Telematics.

The stake increase in Telematics 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.

Telematics, a subsidiary of ST Electronics (Info-Comm Systems), is engaged in the development of radio frequency technology and wireless solutions for the Machine-to-Machine (M2M) industry. Its major customers include location-based service providers for stolen vehicle recovery and fleet management, utility meter manufacturers, as well as electronic toll system providers and road toll operators.

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 and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, 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

Media Contacts:

Magdalen Loh
AVP/Head, Corporate Communications
ST Electronics
Tel: (65) 6413 1788
Fax: (65) 6484 8840
Email: magloh@stee.stengg.com