ST Engineering’s land systems arm injects $4.2m into Indian construction firm

It’s total investment in the firm now totals to $23.8m.

Singapore Technologies Engineering today revealed that its land systems arm, Singapore Technologies Kinetics, has injected $4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics.

This will be used for flowthrough capital injection into LeeBoy India Construction Equipment Private Limited, which
will provide working capital for LeeBoy India’s operations in the subcontinent.

At the same time, SDGK has purchased shares worth INR9.4m (approximately S$0.2m), approximately 1.2% of LeeBoy India’s total share capital, from LeeBoy India’s management staff.

The shares were purchased at the subscription price of INR10 (approximately S$0.21) per share in accordance with the terms of the management staff’s employment contracts.

This would bring SDGK’s total investment in LeeBoy India to INR991.9m (approximately S$23.8m) and its shareholding from 97.9% to 99.2%.

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