ST Engineering focuses on ways to ensure sustainability without government support
Group will continue to streamline business portfolios, and explore cost-reduction measures
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Singapore
IN ANTICIPATION of the absence of government subsidies next year, Singapore Technologies Engineering (ST Engineering) said it will cut costs to offset headwinds from the Covid-19 pandemic.
For its aerospace sector, this means "exiting some businesses that have less long term viability", said Jeffrey Lam, deputy president of the aerospace sector at ST Engineering, on Friday during the group's results briefing for the first half of 2020. Reviews of these businesses are currently ongoing.
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