Singapore Technologies Engineering (ST Engineering)’s aerospace arm Singapore Technologies Aerospace has de-registered its wholly-owned dormant subsidiary ST Aerospace Panama.
Incorporated in the Republic of Panama in 2006, ST Aerospace Panama was established as an aircraft maintenance, repair and overhaul facility. The company has remained dormant since late 2012 upon completion of all maintenance contracts, and the return of its leased facility to the Government of Panama.
The de-registration of ST Aerospace Panama 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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