The JV, named Proteus Advanced Systems, will market and sell advanced naval missile systems, including a next generation anti-ship missile system.
ST Engineering says the setup of this JV is not expected to have any material impact on the consolidated net tangible assets (NTA) per share and earnings per share (EPS) of the company for the current financial year.
Shares in ST Engineering closed 5 cents higher, or 1.5% up, at $3.29.
