ST Engineering’s Electronics Arm Secures Contracts Worth about $650m in 2Q2016
Singapore, 20 July 2016 — Singapore Technologies Engineering Ltd (ST Engineering) announced today that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), secured about $650m worth of contracts in the second quarter (2Q) of 2016 from contracts for Rail Electronics & Intelligent Transportation, Satellite & Broadband Communications, as well as Advanced Electronics & Information Communications Technologies (ICT) solutions.
Rail Electronics & Intelligent Transportation
Rail Electronics & Intelligent Transportation contracts of about $210m were awarded by local and overseas customers. International orders include a $152m contract secured for Communications, Automatic Fare Collection and Platform Screen Door Systems and a metro project for an Integrated Supervisory Control System. Other projects in this business sector include enhancement and maintenance services for Intelligent Transport Systems as well as operations and maintenance services for a carpark management system. These projects will be completed progressively till 2020.
Satellite & Broadband Communications
For Satellite & Broadband Communications, the Electronics sector received contracts amounting to $80m from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations. VT iDirect, Inc., a world leader in satellite-based IP communications technology, established an Engineering and Innovation Centre in Killarney, Ireland to expand the Group’s global engineering innovation footprint from its existing development centres in Ottawa, Canada, Singapore, Cranfield, UK as well as Herndon, USA. iDirect also formed a joint R&D partnership with Inmarsat to develop next generation solutions to support the growing integration of satcom and terrestrial networks, after having worked together over the last four years on the GX programme.
Advanced Electronics & ICT Solutions
About $360m worth of Advanced Electronics & ICT contracts were clinched from both public and private sectors. Projects include a facility upgrade for a new Air Traffic Control Tower at Maun Airport in Botswana and the maintenance and support of a large public security project in the Greater China region. Other contracts comprise the provision of Intelligent Security Management System, Operations, Maintenance Support as well as advanced info-communication and sensor systems and services and maintenance for network infrastructure to government agencies and large enterprises. Telematics Wireless, a subsidiary focused on advanced wireless systems and smart city solutions, was awarded several contracts for smart street lightings in Israel and European cities.
On cyber security capability, the $44.3m ST Electronics–SUTD Cyber Security Laboratory was launched in May to advance new frontiers in cyber security technologies and build next generation solutions and products. In addition, an MOU was signed during CommunicAsia 2016 with Motorola Solutions to co-create innovative technologies for advanced secured communications in public safety, national security and enterprise sectors.
“Together with this quarter's contract wins of $650m, we have secured a total of $1.16b of new orders in the first half of 2016. This is a result of good team effort across all segments, bolstered by several significant overseas orders including a $152m rail electronics project and a contract for a large public security project. The success of these projects will further reinforce our comprehensive repertoire of track records and strengthen our competitive position for new business opportunities that may emerge," said Mr Lee Fook Sun, President, ST Electronics.
These contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
ST Electronics (Singapore Technologies Electronics Limited) is the electronics arm of Singapore Technologies Engineering Ltd, one of the largest public-listed companies on the Singapore Stock Exchange. ST Electronics is a global engineering company specialising in the design, development and integration of advanced electronics and communications systems. Our capabilities are in Rail & Intelligent Transportation; Satellite & Broadband Communications; Info Comm Technologies; Command & Control operations, Training & Simulation; Intelligent Building & Security Systems and Cybersecurity. We have a presence in over 20 countries spanning North America, Latin America, Europe, Africa, the Middle East, China, India and Southeast Asia. For more information, please visit www.stee.stengg.com.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of S$6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
SVP, Corporate Communications
Tel: (65) 6722 1883
AVP, Corporate Communications
Tel: (65) 6413 1788