ST Engineering land system unit injects $3.3m into Indian construction equipment firm

The firm designs road construction equipment.

The engineering firm steps up its operations in India as it injects $3.3m into its subsidiary, SDG Kinetics for a planned capital injection into LeeBoy India.

According to a press release by ST Engineering, this is to provide working capital for LeeBoy India’s operations in India.

The release added that the total investment of SDG Kinetics into LeeBoy India is now $38m.

“The capital increase 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,” the press release noted.

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