ST Engineering land systems arm injects S$5.05m to subsidiaries

ST Kinetics' fund injection will allow subsidiaries to tender for higher value contracts.

In a release, Singapore Technologies Engineering Ltd (ST Engineering) announced that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has injected S$1.8m and S$3.25m into the capital of its wholly owned subsidiaries, SecurEdge Pte. Ltd. (SecurEdge) and Singapore Test Services Private Limited (STS) respectively.

The fund injection is a result of ST Kinetics’ review of its subsidiaries’ business outlook and capital structure to allow them to tender for higher value contracts.

This capital injection 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.