ST Electronics liquidates software services subsidiary to "streamline capabilities"
But no impact on parent ST Engineering.
Singapore Technologies Engineering Ltd (ST Engineering) announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has placed its indirect wholly owned subsidiary, ST Electronics (Software Services) Co., Ltd. under member's voluntary liquidation.
This liquidation is a result of ongoing business review to streamline capabilities and optimise resources within the electronics sector and 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.