ST Engineering: ST Aerospace secured new contracts worth S$443M in 1Q16
Byte Sized News Release: ST Aerospace secured new contracts worth S$443M in 1Q16.
On 18 Apr 16, Singapore Technologies Engineering Ltd (ST Eng) announced that its Aerospace arm has secured new contracts worth S$443m in the first quarter (1Q) of 2016. The contract included projects such as component repair and overhaul, engine wash, airframe maintenance and cabin interiors.
Apart from clinching new contracts, ST Eng also re-delivered 524 airframe maintenance and modification work in 1Q16. This includes cabin interiors modifications for both VIP aircraft and commercial airliners, an A380 cabin overhaul for a European customer, as well as Virgin Galactic’s Boeing 747-400. In addition. a total of 9,742 components, 28 landing gears and 30 engines were processed, while 1,548 engine washes were conducted for both commercial and military customers.
It’s aerospace sector’s airframe facility in Guangzhou also received maintenance organisational approval from the Maldives Civil Aviation Authority for Boeing 767 aircraft, extending the facility’s range of maintenance capabilities.
On component MRO, the aerospace sector continued to add new capabilities to support the Boeing 787 operators. The newly added capabilities cover electrical systems and nacelle components.
St Eng’s book order as at Dec 15 stands at S$11.7 billion. At S$443m, the contract is worth 3.79% of ST Eng’s entire book order. These developments are not expected to have any material impact on the consolidated earnings per share of ST Engineering for the current financial year. At the same time, S$3.8 billion is expected to be delivered in 2016.
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Note: Byte Sized Investments has vested stakes in ST Eng