ST Electronics liquidates dormant subsidiary

Its parent company SPTel will remain an active joint venture.

ST Engineering has placed SPT Net under members' voluntary liquidation as part of its ongoing review to streamline its legal entity structure, according to a press release.

SPT Net is a dormant subsidiary of SP Telecommunications (SPTel), which will remain an active joint venture between ST Engineering Electronics and Singapore Power, providing fibre optic connectivity solutions to enterprises in Singapore.

In 2017, ST Electronics acquired a 51% share in SPTel for a consideration of $55m.

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