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ST Engineering Liquidates Brazilian Subsidiary
Singapore, 11 August 2022 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its wholly owned subsidiary Technicae Projetos e Serviços Automotivos Ltda. (Technicae) has been placed under members’ voluntary liquidation.
Technicae, which was in the business of automotive maintenance, repair and overhaul services, ceased operations in 2018. This voluntary liquidation is part of ST Engineering’s ongoing review to streamline its business portfolio.
It is not expected to have any material impact on either the net tangible assets per share or the earnings per share of ST Engineering Group of the current financial year.
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