Singapore Technologies Engineering (ST Engineering), on July 18, announced that its wholly-owned subsidiary VT Hackney, S.A. de C.V. in Mexico has been placed under members’ voluntary liquidation.
VT Hackney was incorporated in 2008 to market and distribute specialty vehicles in Mexico and Latin America although the activities were discontinued in 2022.
The exercise is part of the group’s review to streamline its legal entity structure. It is not expected to have a material impact on its net tangible assets (NTA) per share or earnings per share (EPS) for the group’s current FY.
Shares in ST Engineering closed at $3.64 on July 17.
