Singapore, 15 January 2015 – Singapore Technologies Engineering Ltd (ST Engineering) announced today that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about $509m worth of contracts in the fourth quarter of 2014 (4Q2014) 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 $113m were secured from local and overseas customers in Hong Kong, Taiwan, the Middle East and Latin America. The projects include platform screen doors, passenger information systems, integrated monitoring and surveillance systems as well as other land transport solutions. Work has started on these projects and will be completed progressively till 2022.
Satellite & Broadband Communications
In the area of Satellite & Broadband Communications, contracts amounting to about $83m included orders from international telecom providers, broadcast companies and government agencies for satellite communication equipment, network equipment and earth stations. These will be delivered progressively over the next two years.
Advanced Electronics & ICT Solutions
Finally, about $313m worth of Advanced Electronics & ICT contracts were received from both public and private sectors and will be delivered progressively over the next five years. One of these projects is in partnership with SMRT Bus Pte Ltd to develop an integrated training system for the Bus Career Development Centre at the Devan Nair Institute for Employment & Employability.
“ST Electronics contract wins in 4Q2014 are from our three key areas of business, namely rail electronics, satellite communications, and advanced electronics and ICT. Overall, 2014 has been a good year for ST Electronics in terms of orders secured. Taking into account contracts announced for the earlier quarters of the year, in total we have secured orders worth approximately $2.18b for the year 2014. We appreciate the support and confidence that customers and partners have placed in us and will continue to work closely with them to build a roadmap for future solutions and services that will further enhance their operational effectiveness and efficiency.” ~ LEE Fook Sun, President, ST Electronics.
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), the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. With a presence in more than 20 countries, ST Electronics markets its solutions to more than 100 countries internationally. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command and control, modelling and simulation, eLearning & interactive digital media, training services, intelligent building management and information security. Please visit www.stee.stengg.com.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered inSingapore, the Group reported revenue of $6.63b in FY2013 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
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