ST Electronics buys out ST Education and Training stakes for $4.6m

It will have more flexibility for expansion.

The acquisition of the remaining 30% shares of STET will provide the electronics arm of ST Engineering with more opportunities to expand its business.

According to a statement by ST Engineering, this includes providing training services for the operational and technical domains of the maritime, aerospace, land services and commercial industries.

However, ST Engineering noted that 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.

"With the acquisition, STET has become a wholly owned subsidiary of STEE-T&S, which in turn is a subsidiary of Singapore Technologies Electronics Limited, the electronics arm of ST Engineering," ST Engineering added.