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Satnews Daily
July 19th, 2017

ST Engineering's Electronics Arm Muscles Contracts Worth Approximately S$490m in 2Q2017

This company's electronics arm did well in the second quarter of 2017 with contracts secured that total approximately S$490m ($358M US) for Rail Electronics and Intelligent Transportation, Satellite and Broadband Communications, as well as Advanced Electronics and Information Communications Technologies (ICT) solutions.

Singapore Technologies Engineering Ltd (ST Engineering) made this announcement and proceeded to specify their sources. Rail Electronics and Intelligent Transportation Rail Electronics and Intelligent Transportation contracts of about S$131m were clinched from local and overseas customers. These include contracts for communications systems, Automatic Fare Collection and Platform Screen Door Systems for the region, a Passenger Information Display System for Hong Kong’s Shatin to Central Link (SCL) railway line, as well as maintenance services for Intelligent Transport and Fleet Management Systems.

These projects will be completed progressively until 2024. Satellite and Broadband Communications Contracts amounting to S$57m were awarded by government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and Earth stations. These projects will be completed progressively over the next three years.

Advanced Electronics and ICT Solutions Contracts of about S$302m were secured to provide Advanced Electronics and ICT Solutions to customers from the public and private sectors. Some of these include the delivery of a public safety system, contracts for network infrastructure and communications, as well as cyber security solutions. These projects will be completed progressively till 2022. 

Furthering their relationships and collaboration with industry partners, ST Electronics has joined forces with the Maritime Port Authority to enhance Singapore’s port and shipping operations, with a focus on developing Next Generation Vessel Traffic Management Systems, Intelligent Systems for Shipping Operations, autonomous port operations and robotics for harbor-craft operations within Singapore’s port.

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.