Singapore, 21 May 2019 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its subsidiary, ST Aerospace International Structures Pte Ltd (STAIS), has applied to the Accounting and Corporate Regulatory Authority in Singapore to remove its name from the Register pursuant to the Section 344 of the Companies Act, Chapter 50.

STAIS was formed to undertake an EC120 Colibri helicopter manufacturing programme which has since been completed. Prior to the application for de-registration, STAIS effected a capital reduction of its share capital from $200,000 to $1, which resulted in the cancellation of 199,999 ordinary shares in the issued share capital of STAIS.

The application 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.