ST Engineering's land systems arm sets up in Myanmar

KASE subsidiary based in Yangon.

The land systems arm of Singapore Technologies Engineering (STE), ST Kinetics, has set up a wholly-owned subsidiary, Kinetics Automotive & Specialty Equipment Co., Ltd (KASE), in Yangon, Myanmar, with a paid up capital of US$423,000 (S$524,000).

OCBC said KASE will serve as a platform to introduce and support ST Kinetics’ automotive and specialty vehicles products and services in Myanmar.

The setting up of KASE is not expected to have any material impact on EPS of STE for the current financial year.

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