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http://www.stee.stengg.com/2005/newsrm/2005/prt-06-02.htm
Singapore, 13 June 2005 — Singapore
Technologies Electronics Limited (ST Electronics) today announced
that Chartered Electro-Optics Pte Ltd (CEO) has increased its
issued and paid-up capital from S$1,001 to S$1,500,000. This
increase in paid-up capital was effected by capitalisation
of an equivalent amount of revenue reserve and issuance of
1,498,999 new ordinary shares of S$1.00 each as a bonus share
issue. The bonus issue was allocated in direct proportion to
the respective shareholdings. CEO is 50.05% owned by Singapore
Technologies Electronics Limited, the electronics arm of ST
Engineering.
The bonus shares will rank pari passu in all respects with the existing issued
ordinary shares of S$1 each in the capital of CEO. The increase in paid-up capital
will strengthen the company’s capital structure in support of its efforts
to develop new markets and participate in larger projects internationally.
This bonus issue 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.
CEO is a leading electro-optics (EO) application solutions provider. Its EO technologies are used in applications such as thermal imaging, long range surveillance, range finders, day and night surveillance. CEO offers designing and engineering capabilities in system engineering, electronics, mechanical and optics. It integrates, manufactures, maintains and provides comprehensive EO solutions and systems and offers products from cooled and uncooled handheld thermal imagers to weapon and helmet mounted sights, thermal imager based surveillance systems for homeland security, border control, airports, seaports and oil refineries.
ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to commercial, defence, and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband radio frequency and microwave communication, e-government solutions, rail and traffic management, real-time command & control, training and simulation, intelligent building management, and information security and mobile 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 both system and component level to provide quality solutions to customers.
ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of S$2.95 billion in FY2004. Its market capitalisation of more than S$7 billion ranks it among the largest companies listed on the Singapore Exchange. ST Engineering has 12,000 employees worldwide, and over 100 subsidiaries and associated companies in 15 countries and 22 cities. Please visit www.stengg.com
Media Contact:
Magdalen Loh
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 6413-1788
Fax: (65) 6484-8840
Email: magloh@stee.stengg.com
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