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ST Kinetics' share capital contribution in unit SDDA rises to S$41.2m

Friday, September 30, 2016 - 17:34

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SINGAPORE Technologies Engineering Ltd (ST Engineering) on Friday said its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has injected S$31.2 million into the capital of its subsidiary, SDDA Pte Ltd, through a conversion of loans previously extended by ST Kinetics.

SINGAPORE Technologies Engineering Ltd (ST Engineering) on Friday said its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has injected S$31.2 million into the capital of its subsidiary, SDDA Pte Ltd, through a conversion of loans previously extended by ST Kinetics.

This brings ST Kinetics' total share capital contribution in SDDA to S$41.2 million, said ST Engineering in a filing to the Singapore Exchange (SGX).

"The injection of capital is not expected to have any material impact on the consolidated net tangible asset per share and earnings per share of ST Engineering for the current financial year," it added.

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