ST Engineering liquidates dormant security unit

STET Homeland Security Services, a dormant subsidiary of ST Engineering, has been placed under members' voluntary liquidation, the mainboard-listed defence and engineering group announced in a Tuesday bourse filing.

"This exercise is part of ST Engineering's ongoing review to streamline its legal entity structure," the firm said. It does not expect any impact on its earnings or net tangible assets for the current financial year.

Shares of ST Engineering closed at S$3.86 on Tuesday, down 0.26 per cent.