ST Engineering ends specialty vehicles business in Mexico

The decision is part of ST Engineering's efforts to streamline its legal entity structure.

Singapore Technologies Engineering (ST Engineering) has announced that its wholly-owned subsidiary, VT Hackney, S.A. de C.V., located in Mexico, has been placed under members' voluntary liquidation. 

The subsidiary was established in 2008 with the purpose of marketing and distributing specialty vehicles in Mexico and Latin America. 

However, these activities were discontinued in 2022.

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This decision is part of ST Engineering's continuous efforts to streamline its legal entity structure, the company said in a press statement.

It is not anticipated to have a significant impact on the net tangible assets per share or the earnings per share of the ST Engineering Group for the current financial year.