ST Engineering Records SG$667 Million Impairment on Unit iDirect Group, Explores Strategic Options

MT Newswires11-12

ST Engineering (SGX:S63) took a non-cash impairment of $667 million on its subsidiary, iDirect Group, according to a Wednesday filing with the Singapore Exchange.

The value in use of the unit was determined to be SG$170 million as at Sept. 30, down from a carrying amount of SG$837 million, after an assessment.

The impairment was partially offset by gains from recent divestments of around SG$258 million, according to the filing.

ST Engineering said it is evaluating strategic options for iDirect, including potential partnerships or other transactions, to mitigate risks and strengthen the unit's ability to serve customers. No agreement has been reached, and there is no certainty of a deal.

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Puppy Learn
11-13
Puppy Learn
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No agreement has been reached, and there is no certainty of a deal.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>ST Engineering Records SG$667 Million Impairment on Unit iDirect Group, Explores Strategic Options</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nST Engineering Records SG$667 Million Impairment on Unit iDirect Group, Explores Strategic Options\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1060499803\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">MT Newswires </p>\n<p class=\"h-time\">2025-11-12 18:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<html><body><p> ST Engineering (SGX:S63) took a non-cash impairment of $667 million on its subsidiary, iDirect Group, according to a Wednesday filing with the Singapore Exchange.</p><p>The value in use of the unit was determined to be SG$170 million as at Sept. 30, down from a carrying amount of SG$837 million, after an assessment.</p><p>The impairment was partially offset by gains from recent divestments of around SG$258 million, according to the filing.</p><p>ST Engineering said it is evaluating strategic options for iDirect, including potential partnerships or other transactions, to mitigate risks and strengthen the unit's ability to serve customers. No agreement has been reached, and there is no certainty of a deal.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU0348784397.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USD) ACC","SG9999014492.USD":"NIKKO AM ASEAN EQUITY \"A\" (USD) ACC","LU0348744763.USD":"ALLIANZ ASIA PACIFIC INCOME \"A\" (USD) INC","IE00BKZH1Z71.USD":"BNY MELLON ASIAN INCOME \"B\" (USD) ACC","SG9999001127.SGD":"United Singapore Growth Fund SGD","SG9999014484.SGD":"Nikko AM ASEAN Equity Fund A SGD","SG9999002414.USD":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","LU0348783662.USD":"ALLIANZ ORIENTAL INCOME \"A\" (USDHDG) INC","LU1242518857.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"I\" (USD) ACC","BK6094":"航天航空与国防","LU0348766576.USD":"ALLIANZ LITTLE DRAGONS \"A\" (USD) INC","SG9999004360.SGD":"Nikko AM Shenton Thrift Fund SGD","SG9999001226.SGD":"UNITED SUSTAINABLE ASIA TOP 50 \"A\" (SGD) ACC","LU0348767384.USD":"ALLIANZLITTLE DRAGONS \"A\" (USD) ACC","SGXZ27511609.SGD":"NIKKO AM SINGAPORE DIVIDEND EQUITY \"SGD\" (SGD) ACC","LU0417516571.SGD":"Allianz Oriental Income Cl AT Acc SGD","SG9999003826.SGD":"日兴资管新加坡股息基金 SGD","SG9999014302.SGD":"RHB Singapore Income Fund SGD","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD","SG9999003461.SGD":"United Asia Pacific Infrastructure SGD","LU2293587155.HKD":"ALLIANZ ORIENTAL INCOME \"AT\" (HKD) ACC","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","SG9999008742.SGD":"Eastspring Investments Unit Trusts - Singapore ASEAN Equity SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","SGXZ43160589.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) ACC","SG9999002406.SGD":"利安新加坡信托基金","LU1048588211.SGD":"Blackrock Asian Dragon A2 SGD-H","SG9999002950.SGD":"United Asian Growth Opportunities SGD","SGXZ24219693.SGD":"UNITED SG DYNAMIC INCOME FUND \"A\" (SGD) INC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0072462343.USD":"贝莱德亚洲巨龙基金","S63.SI":"新科工程","BK6504":"工业制品概念","SG9999005177.SGD":"Legg Mason Martin Currie - Southeast Asia Trust A Acc SGD","SG9999016042.SGD":"Schroder Singapore Trust A Acc SGD","SG9999001051.SGD":"United Asia Fund SGD","BK6523":"ESG概念","LU0348783233.USD":"安联东方收入型 CI A Dis美元"},"source_url":"https://www.mtnewswires.com/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2582632782","content_text":"ST Engineering (SGX:S63) took a non-cash impairment of $667 million on its subsidiary, iDirect Group, according to a Wednesday filing with the Singapore Exchange.The value in use of the unit was determined to be SG$170 million as at Sept. 30, down from a carrying amount of SG$837 million, after an assessment.The impairment was partially offset by gains from recent divestments of around SG$258 million, according to the filing.ST Engineering said it is evaluating strategic options for iDirect, including potential partnerships or other transactions, to mitigate risks and strengthen the unit's ability to serve customers. 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