ST Engineering Establishes JV Company in Singapore; Shares Up 3%

MT Newswires

03-26

ST Engineering's (SGX:S63) subsidiary, ST Engineering Mission Software & Services, together with Home Team Science and Technology Agency (HTX) incorporated a joint venture company in Singapore, according to a filing with the Singapore Exchange on Wednesday.

The JV company, Codex Solutions, has an initial paid up capital of SG$10 million with ST Engineering Mission Software & Services holding a 60% interest.

The JV company will focus on developing and maintaining in-house software capabilities for HTX.

Shares of the engineering services company were up nearly 3% in recent trading.

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