Company briefs :Global Invacom

Global Invacom

Satellite equipment specialist Global Invacom said the immediate impact of Britain's vote to leave the European Union on the group's satellite communications will not be significant.

The weaker British pound is expected to have a favourable impact on the group's financial performance in the near to medium term, as the group incurs costs denominated in sterling for activities carried out of its British facilities.

Depending on the outcome of trade negotiations between Britain and the EU, the group may consider establishing a logistics hub in an EU country in order to continue tariff-free transactions via a possible free trade agreement to be negotiated.

Singapore Technologies Engineering

ST Aerospace Resources has completed the divestment of its 50 per cent equity stake in Keystone Holdings (Global), a holding company for single-aisle aircraft leasing investments.

The US$10.3 million (S$14 million) divestment has left ST Aerospace Resources and SJ Aviation Capital each with a 50 per cent share in Keystone.

The shareholders plan to continue to build up Keystone's portfolio of mid-life and end-of-life aircraft assets.

The divestment is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for this financial year.

Venture Corporation

Venture Electronics Services (Malaysia), a subsidiary of Venture Corporation, has completed the acquisition of a site at Plot 318 Batu Kawan Industrial Park in Penang.

The 12.4ha site has a leasehold interest of 60 years expiring in February 2074 and was acquired for RM33.29 million (S$11.2 million) from the Penang Development Corporation. The plot will be used for the subsidiary's operations.

The acquisition was funded by internal resources and is not expected to have any material impact on the group's earnings per share or net tangible assets per share for this financial year.

A version of this article appeared in the print edition of The Straits Times on July 06, 2016, with the headline 'Company briefs'. Print Edition | Subscribe