ST Engineering's electronics arm bags S$464m jobs in Q1 2017

SINGAPORE Technologies Engineering (ST Engineering) said that its electronics arm, ST Electronics, has secured contracts worth some S$464 million in the first quarter of 2017.

The projects include S$67 million contracts for rail electronics and intelligent transportation secured from local and overseas customers which will be completed progressively till 2022, said ST Engineering in a statement.

Contracts worth some S$79 million were secured 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.

About S$318 million worth of advanced electronics and information and communication technology (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 will take till 2023 to complete.

The group said that these contracts are not expected to have any material impact on its consolidated net tangible assets per share and earnings per share for the current financial year.

Shares of ST Engineering ended higher by five Singapore cents or 1.4 per cent at S$3.75 at market close on Tuesday.