SIAEC will recognize an estimated gain of SG$2.68 million on divestment of its entire stake in AST. SIAEC has been reviewing its portfolio of joint ventures for consolidation, and to focus on building next-generation aircraft capabilities. The divestment decision was made in light of the declining work volume at AST. Completion of the sale has taken place and AST has ceased to be an associated company of SIAEC. (US$1.00 = SG$1.36 at time of publication.)