Singapore-Israeli JV to Market Advanced Naval Missile Systems

Our Bureau
08:56 AM, July 16, 2020
3044

ST Engineering today announced that its land systems arm signed an agreement with Israel Aerospace Industries Ltd (IAI) to set up a fifty-fifty joint venture company (JV) in Singapore.

The JV, named Proteus Advanced Systems Pte Ltd, will market and sell advanced naval missile systems, including a next generation anti-ship missile system, the Israeli partner said in a statement.

The setup of this JV 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.

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