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http://www.stee.stengg.com/2005/newsrm/2004/prt-11-03.htm
SINGAPORE, 5 November 2004 — Singapore Technologies Electronics Limited (ST Electronics), has incorporated a wholly-owned subsidiary in Shenzhen, China. The newly incorporated company, Xinke Information Systems Ltd (Xinke Information Systems) was incorporated through ST Electronics’ wholly-owned subsidiary, SES Systems Pte Ltd (SES). ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd (ST Engineering).
Incorporated with an authorised and paid-up capital of RMB10 million, Xinke Information Systems is principally involved in IT development outsourcing and will be a software solutions provider. Through Xinke Information Systems, SES aims to tap into the abundant competitive talent pool in China to support its software work and to provide public safety solutions to Shenzhen and Guangzhou.
The investment 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.
Since 2001, SES had established an Offshore Development Centre in Shenzhen to support ST Electronics’ subsidiaries in systems development, integration and support. This Offshore Development Centre’s business will form part of Xinke Information Systems’ IT development outsourcing business. The incorporation of Xinke Information Systems in Shenzhen also bears testimony to SES’ further commitment to the Shenzhen and Guangzhou markets with its experience and capability in providing outsourced services. Xinke Information Systems will be the platform on which SES will ride on the growth trend in global outsourcing business and further tap the China public safety market.
About SES
SES Systems, a wholly-owned subsidiary of ST Electronics, started operations
in 1986 and has since emerged as the leading systems house in the region
for mobile / real-time decision support systems. A key C2I (Command, Control & Intelligence)
solutions provider, SES Systems focuses primarily on providing superior Defence
C2I applications, Homeland Security systems and Enterprise solutions to both
civil and defence customers worldwide. SES Systems’ activities range
from consultancy to design, development, systems integration, commissioning
and life-cycle support of operational systems.
ST Electronics is the electronics arm of ST Engineering. It delivers innovative system solutions to defence, commercial and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband RF & microwave communication, rail & traffic management, real-time command & control, training & simulation, intelligent building management, and information security and m-commerce solutions. ST Electronics applies leading edge technologies and design methodologies to meet the stringent requirements of customised electronics systems and solutions. It undertakes continuing research and development to help create cost-effective proprietary products at system and component levels providing quality solutions to customers. Please visit www.stee.st.com.sg.
Magdalen LOH
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 6413-1788
Fax: (65) 6484-8840
Email: lohlmm@stee.st.com.sg
( Regn. No.: 196900084E )
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