ST Electronics secures S$695m worth of contracts for Q4 2016, S$2.33b for 2016

THE electronics arm of Singapore Technologies Engineering Ltd (ST Engineering) had secured about S$695 million worth of contracts for the fourth quarter of 2016, bringing the total value of new orders for the year to S$2.33 billion.

The contracts came from the rail electronics and intelligent transportation, satellite and broadband communications, as well as advanced electronics and information communications technologies (ICT) solutions businesses of Singapore Technologies Electronics Limited (ST Electronics), said ST Engineering in a release on Thursday after market close.

About S$529 million worth of the new contracts were for advanced electronics and ICT, and they came from the private and public sectors. They will be completed progressively till 2023.

Rail electronics and intelligent transportation contracts of about S$71 million were secured from local and overseas customers, and they will be completed progressively till 2023. These include the supply of different kinds of systems for Taipei, Wuhan and Kunming metro lines.

Contracts amounting to S$95 million 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 few years.

ST Engineering's share price fell by two Singapore cents, or 0.6 per cent, to S$3.34 apiece on Thursday before the announcement.