ST Engineering - RHB Research 2025-09-02: Divests Non-core Stake In CityCabs; Keep BUY

• ST Engineering has divested its 46.5% stake in CityCab for S$116.3m. Proceeds will go towards debt repayment, with modest interest savings, and a negligible earnings impact.

Divestment of stake in CityCab.

• - Read this at SGinvestors.io -
• ComfortDelGro, which already owned the remaining 53.5% stake, is now the sole owner of the Singapore-based taxi operator. The transaction consideration was arrived at on a willing-buyer, willing-seller basis, and compares favourably against a valuation report dated 25 Aug 2025, which ascribed a value of S$98.9m to ST Engineering’s stake in CityCab.
• - Read this at SGinvestors.io -

Impact from divestment.

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Previous report by RHB:
2025-08-15 ST Engineering - Record Orderbook & Margins Resilience Drives Growth.

Price targets by 4 other brokers at ST Engineering Target Prices.

Listing of research reports at ST Engineering Analyst Reports.

Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividend Payout Dates & Corporate Actions,
ST Engineering News