Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm, Singapore Technologies Aerospace Ltd (ST Aerospace), has streamlined its entities through a short-form amalgamation under Section 215D of the Singapore Companies Act.
With effect on 1 September 2017, ST Aerospace Rotables Pte Ltd (STA Rotables) is amalgamated with ST Aerospace Supplies Pte Ltd (STA Supplies), which is the surviving entity after the amalgamation. The notice of amalgamation has been received from the Accounting and Corporate Regulatory Authority. Business will continue seamlessly with STA Supplies as a subsidiary of ST Aerospace.
This exercise is a result of ongoing business reviews to streamline and synergise capabilities, and to consolidate resources within the aerospace 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.