Singapore Technologies Engineering Ltd announced that its indirect wholly-owned subsidiary ST Engineering iDirect (China) Co. Ltd. (formerly known as Newtec (Beijing) Satellite Communications Co. Ltd) has been placed under members’ voluntary liquidation. The entity was incorporated in 2012 to provide satcom marketing and after-sales service in Asia and has been dormant since early 2024.
This exercise is part of ST Engineering’s ongoing review to streamline its legal entity structure, and is not expected to have any material impact on either the net tangible assets per share or the earnings per share of ST Engineering Group for the current financial year.