ST Engineering's Land Systems Arm Injects Capital Into Leeboy India Construction Equipment Private Limited

Singapore, 18 September 2014 - Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics Pte Ltd (SDGK), for flowthrough capital injection into LeeBoy India Construction Equipment Private Limited (LeeBoy India) to provide working capital for LeeBoy India's operations in India. 

At the same time, SDGK has purchased shares worth INR9.4m (approximately S$0.2m), approximately 1.2% of LeeBoy India's total share capital, from LeeBoy India's management staff. The shares were purchased at the subscription price of INR10 (approximately S$0.21) per share in accordance with the terms of the management staff's employment contracts.

This would bring SDGK's total investment in LeeBoy India to INR991.9m (approximately S$23.8m) and its shareholding from 97.9% to 99.2%. 

 LeeBoy India is headquartered in Bangalore, India. It designs and manufactures high performance road construction and excavation equipment that enhances the operational efficiency and productivity of companies in the infrastructure sector. 

 The injection of capital 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.

ST Kinetics (Singapore Technologies Kinetics Ltd) is the land systems and specialty vehicles arm of Singapore Technologies Engineering Ltd. It is one of Asia's leading land systems and specialty vehicles companies, delivering smart engineering solutions since 1967 for the commercial, defence and homeland security markets. With 7,000 employees worldwide and revenue of over S$1.48b in FY2013, ST Kinetics delivers products and solutions to end users in more than 40 countries around the world; helping to maintain the peace of nations and increasing the productivity of businesses involved in earthmoving, road construction and goods distribution.www.stengg.comfor more information.

 ST Engineering(Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors.  Headquartered in Singapore, the Group reported revenue of S$6.63b in FY2013 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries.www.stengg.comfor more information. 

 Media contacts:         
Lina Poa
SVP, Corporate Communications
ST Engineering
Tel:      (65) 6722 1883 / (65) 9696 5453
Email: linapoa@stengg.com

Seng Woei Yuan
Head, Corporate Communications
ST Kinetics
Tel:      (65) 6660 7449 / (65) 9842 2773
Email: sengwy@stengg.com

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