ST Engineering Partners with HTX to Enhance Mission-Critical System Solutions

Singapore Technologies Engineering Ltd (ST Engineering) has today declared that its subsidiary, ST Engineering Mission Software & Services Pte. Ltd., in collaboration with HTX (Home Team Science and Technology Agency), has established a joint venture (JV) firm in Singapore. This JV initiates with a paid-up capital amounting to $10 million, where ST Engineering Mission Software & Services Pte. Ltd. possesses a 60% share and HTX commanding the residual 40%.

The JV entity, Codex Solutions Pte. Ltd., is set to concentrate on the development and upkeep of proprietary software capabilities for the Home Team. ST Engineering will inject its knowledge to devise bespoke and cohesive solutions, while HTX will leverage its skills in product innovation, management, and governance.

Ravinder Singh, President of Defence & Public Security at ST Engineering, stated, “We have been enhancing capabilities to aid homeland security entities for numerous years and have amassed significant expertise to assist HTX in its objective to act as a force multiplier for the Home Team. The establishment of this joint venture builds upon this foundation, utilizing our experience to provide substantial capabilities to HTX and the Home Team.”

Chan Tsan, Chief Executive of HTX, remarked, “The initiation of this joint venture signifies just one of the multitude of methods HTX is actively crafting new internal capabilities that will empower us to better accomplish our mission of transforming Singapore into the safest locale on Earth. We are thrilled to collaborate with ST Engineering due to their robust track record in this domain and their position as a pivotal industry contributor in the homeland security sector.”

The arrangement of this joint venture is not anticipated to exert any meaningful influence on the consolidated net tangible assets per share or earnings per share of ST Engineering for this current fiscal year.