[SatNews] Singapore Technologies Engineering Ltd (ST Engineering) has announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), has secured about $581m worth of contracts in the first quarter of 2014 for satellite and broadband communications, intelligent transportation, as well as advanced electronics and Information Communications Technologies (ICT) solutions.On the satellite and broadband communications front, ST Electronics secured about $48m worth of contracts. These include a contract from ST Teleport to set up their new satellite teleport facility in Singapore.
These contract wins 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.
Separately, in connection with a contract awarded in 2011 to provide satellite ground network infrastructure and end-user terminal technology to Inmarsat for its forthcoming launch of the Global Xpress High-Throughput Satellite (HTS) service, iDirect has successfully achieved the Factory and Site Acceptance Test milestones and is on track to be ready for Inmarsat’s commercial service introduction later in the year. In addition to winning contracts in 1Q2014, ST Electronics has also garnered some awards. Its subsidiary, ST Electronics (Info-Security), was awarded the Hewlett-Packard (HP) Security Solution Partner of the Year for the Asia Pacific - Japan region at the HP Global Partners Conference, Las Vegas. This was for its involvement in key projects for various security operations centres for enterprises and government.
On the home front, ST Electronics won three Singapore Good Design Mark (SG-Mark) awards for product design. The SG-Mark is awarded to innovative and exceptional designs which spur the imagination and enhance our day-to-day lives. ST Electronics won the award for three of its products, namely its Passenger Emergency Communications, Automatic Fare Collection Gates and DigiSAFE Diskcrypt Mobile, an encrypted hard drive for computers.
To learn more, please visit the company's infosite at http://www.stee.stengg.com/