Singapore, 18 April 2017 – Singapore Technologies Engineering Ltd (ST Engineering) announced today that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), secured about S$464m worth of contracts in the first quarter (1Q) of 2017 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 S$67m were secured from local and overseas customers. These include the supply of the Passenger Information System to CRRC Qingdao Sifang for 400 of Chicago's 7000 Series rail cars; delivery of Passenger Information Display System for a train retrofit, as well as enhancement and system integration services for Taipei Rapid Transit Corporation. Other projects in this business sector include enhancement and maintenance services for Intelligent Transport Systems as well as Fleet Management Systems. These projects will be completed progressively till 2022.
Satellite & Broadband Communications
Contracts amounting to S$79m were received from 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.
On the space front, ST Electronics has steadily advanced its foray into the global market, forming major collaborations with local and overseas governments. In the past quarter, the company announced the development of TeLEOS-2, the next Generation Earth Observation Satellite in partnership with Defence Science & Technology Agency to support the satellite imagery needs of Singapore government agencies. In addition, a partnership was inked with Collecte Localisation Satellites, a subsidiary of the French Space Agency to Expand Value-Added Services for Maritime Security by leveraging ST Electronics' commercial satellite imagery capabilities provided by TeLEOS-1, Singapore's first commercial Near-Equatorial Orbit earth observation satellite.
Advanced Electronics & ICT Solutions
About S$318m worth of Advanced Electronics & ICT contracts, including for Integrated Security Management System, the enhancement of communications and network systems, delivery of Advanced Meter Readers, as well as customised training solutions were secured. These projects will be completed progressively till 2023.
ST Electronics continues to make significant inroads in cyber security. It won a consultancy contract for the design of Sri Lanka’s National Cyber Security Operations Centre, to enhance Sri Lanka’s digital infrastructure and counter cyber threats. In March, ST Electronics signed a Memorandum of Understanding with the Headquarters Signals and Command Systems, which includes the Singapore Armed Forces (SAF) training institute for cyber defence, and Nanyang Polytechnic to strengthen the SAF’s cyber defence training. These are part of ST Electronics’ ongoing efforts to deepen and widen the professional capabilities required by the industry to secure and protect digital assets.
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 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 defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. It has global presence with offices in Asia, the Americas, Europe and the Middle East and employs about 22,000 employees. Across the globe, its employees bring innovation and technology together to create smart engineering solutions for its customers in the defence, government and commercial segments. Headquartered in Singapore, ST Engineering reported revenue of S$6.68b in FY2016 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore and the SGX Sustainability Leaders Index. Please visit www.stengg.com for more information.
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