ST Engineering completes divestment of stake in Chinese heavy vehicles firm
The move has been approved by regulatory authorities.
Singapore Technologies Engineering Ltd revealed on Friday that Singapore Technologies Kinetics Ltd, its land systems arm, has completed the divestment of its 50% equity stake in Beijing Zhonghuan Kinetics Heavy Vehicles Co., Ltd.
The move was first announced in January this year, and the divestment follows the approval by relevant governmental and regulatory authorities.
This divestment is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.