ST ENGINEERING: ST ELECTRONICS WINS CONTRACTS WORTH ABOUT $505M IN 1Q2016
Byte Sized News Release: ST Electronics secured new contracts worth $505M in 1Q16.
On 20 Apr 16, Singapore Technologies Engineering Ltd (ST Eng) announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about $505m worth of contracts in 1Q16. Contracts include projects such as Rail Electronics & Intelligent Transportation, Satellite & Broadband Communications, as well as Advanced Electronics & Information Communications Technologies (ICT) solutions.
About $41m worth of contracts were secured from local and overseas customers for the Rail Electronics & Intelligent Transportation segment. The contracts includes communications systems and projects that supply Passenger Information System to CRRC Qingdao Sifang Co. Ltd (for 744 train cars in the Hong Kong MTR) and the delivery of Trainborne Communications System for the Riyadh Metro in Saudi Arabia. Other projects include operations and maintenance services for a carpark management system.These projects will be completed progressively till 2023.
About $91m worth of Satellite & Broadband Communications projects were contracted by government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations. ST Eng’s intelligent sensors have also been deployed to provide a highly effective solution against physical intrusion into critical facilities such as airports, transportation hubs and high-end property developments (see picture below). Meanwhile, these intelligent sensors have also been used to enable smart nation application, for example in the management of green building and estates, improving the quality of our living environment through more efficient use of energy.
Pictures shows a mock-up of Intelligent Sensors providing solution against physical Intrusion during Singapore Airshow. When the fence (on the right) is tampered or shaken, it sends a signal to the central system. The green line on the screen (on the left) reports the location of tamper and the camera will provide a real-time footages for the security guard to access whether it is a breach or strong winds shaking the fence.
For Advanced Electronics & ICT , about $373m worth of contracts were clinched from both public and private sectors. These contracts include provision of Intelligent Security Management System, Operations, Maintenance Support as well as advanced info-communication and sensor systems and services, supply chain managed services and maintenance for network infrastructure to government agencies and commercial businesses.
“During this active first quarter, ST Electronics remained focused on growth opportunities, reaching out to local and global markets with a strategic portfolio of smart solutions that make cities more efficient, sustainable and secure, as showcased during the Singapore Airshow 2016,” said Mr Lee Fook Sun, President, ST Electronics.
“Security in particular has become critical as incursions – both physical and cyber – are on the rise and have an impact on all facets of our lives. As the leading cyber security solution provider in Singapore, ST Electronics provides trusted, indigenous and future-ready cyber security solutions to protect critical infrastructure and networks.” Mr Lee continued.
St Eng’s book order as at Dec 15 stands at S$11.7 billion. Taking into account 18 Apr 16 news release, total contract secured for 1Q16 sums up to S$948m. 1Q16’s new order book is worth 8.1% of ST Eng’s entire book order. According to ST Eng, 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.
Previous article on ST Eng:
- How you could have made 10% in 3 days
- ST Engineering Ltd (ST Eng) announced that its Aerospace arm has secured new contracts worth S$443m in 1Q16.
Note: Byte Sized Investments has vested stakes in ST Eng