21 April 2020:As a part of essential services ST Engineering and its subsidiaries in Singapore are operational from their premises including aerospace hangars, shipyards, automotive factories and electronics workshops during the lockdown period in Singapore from 7th April 2020 to 4th May 2020. Besides this, the group's subsidiaries in the US will continue to operate as essential businesses with the necessary safeguards including safe-distancing measures and telecommuting arrangements.
ST Engineering has activated its business continuity plans since February and has swiftly stepped up measures aligned with the latest government advisories to protect the health and well-being of its employees, customers and other stakeholders. The Group will comply with all measures as required by the governments and agencies in Singapore and elsewhere where it operates, to continue with its operations at its various premises, including safe-distancing, shift work/split teams, staggered hours and work-from-home arrangements.
To lend support and solidarity as it weathers this pandemic together with its partners and stakeholders, the Board has decided to reduce Board fees by 10%. The President & CEO will also reduce his salary by 10%, while the senior management team will reduce their salaries by percentages ranging between 5% and 10%. These changes will take effect from 1 May 2020.