Singapore, 22 March 2012 - Singapore Technologies Engineering Ltd (ST Engineering)'s land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), refers to the earlier announcements made on 6 and 8 March 2012 in relation to the debarment by Indian Ministry of Defence (MoD) from business dealings with the Ordnance Factory Board (OFB).
ST Kinetics wishes to update the outcome of the court hearing on 21 March, which is a continuation of earlier court proceedings on the three petitions it filed with the Delhi High Court.
The Delhi High Court ruled that in light of the OFB Order, the three petitions have lost their relevance and hence disposed off. It gave directions that ST Kinetics has the liberty to file fresh petitions to challenge both the OFB Order as well as the MoD's earlier decisions to put ST Kinetics' defence business activities on hold.
ST Kinetics intends to vigorously take appropriate actions to clear its name and defend its reputation.