ST Engineering dissolves US subsidiary

As part of its ongoing business review.

In a release, Singapore Technologies Engineering Ltd announced that VT iDirect, Inc. has dissolved its wholly owned subsidiary, Intelect Technologies, LLC. iDirect is a subsidiary of Vision Technologies Systems, Inc., a wholly owned subsidiary of ST Engineering in the US.

Intelect has therefore ceased to be a subsidiary of ST Engineering. The dissolution of Intelect is the result of an ongoing business review by ST Engineering and 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.

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