ST Engineering land systems arm injects $6.66m capital into JHK
The capital contribution will fund the construction of a new plant, as part of JHK’s planned relocation and expansion of its current production capacity.
Singapore Technologies Engineering Ltd announced that Singapore Commuter Private Limited, a wholly owned subsidiary of its land systems arm, Singapore Technologies Kinetics Ltd, has injected US$6.66m into Jiangsu Huatong Kinetics Co., Ltd.
The capital injection is the first progressive proportionate capital contribution of an additional US$28.76m investment by SCPL in JHK to fund the plant construction.
SCPL will inject the remaining capital of US$22.10m as needed for the new plant to be completed by 2014.