S'pore Tech in RI venture

S'pore Tech in RI venture

SINGAPORE (Reuter): Singapore Technologies Automotive Ltd.
(STA), the automotive arm of the Singapore Technologies group of
companies, said it is taking a stake in a joint venture in
Indonesia with PT Steady Safe, which is engaged in taxi and bus
operations in Jakarta.

The joint venture company will engage in the refurbishing,
maintenance and repairs of taxi and buses, particularly those
belonging to Steady Safe.

Steady Safe and STA will hold 60 percent and 40 percent stakes
respectively in the joint venture, whose authorized capital is
US$5 million.