ST Engineering's land systems arm injects $2.1m into capital of Indian firm

It's a part of progressive planned investment.

In a release, Singapore Technologies Engineering Ltd (ST Engineering) announced that SDG Kinetics Pte Ltd (SDGK), a wholly owned subsidiary of its land systems arm, Singapore Technologies Kinetics Ltd, has injected INR92.0m (about S$2.1m) into the capital of LeeBoy India Construction Equipment Private Limited (LeeBoy India) as part of the progressive planned investment into the company.

This brings SDGK’s total share capital contribution in LeeBoy India to INR727.5m (about S$18.3m). SDGK’s shareholding in LeeBoy India remains unchanged at 97.9%.

This injection of capital into LeeBoy India 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.

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. After the successful launch of its 12.5 tonne Motor Grader and a family of Concrete Batching Plants in 2012, LeeBoy India has further expanded its range of locally produced products in 2013 to include a 15 tonne Motor Grader, a 23 tonne Crawler Excavator, and 79hp and 99hp Backhoe Loaders.