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ST Electronics bags S$505m contracts in Q1

SINGAPORE Technologies Electronics (ST Electronics) secured about S$505 million worth of contracts in the first quarter of 2016.

These contracts span Rail Electronics & Intelligent Transportation (S$41 million), Satellite & Broadband Communications (S$91 million), as well as Advanced Electronics & Information Communications Technologies (ICT) solutions (S$373 million).

The deals were won from both local and overseas customers, and government as well as private-sector organisations.

ST Electronics is the electronics arm of Singapore Technologies Engineering (ST Engineering).

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Said Lee Fook Sun, president of ST Electronics: "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.

"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 ... We bring both cyber security expertise and deep domain knowledge to government agencies and commercial customers to combat growing cyber threats and protect critical infrastructures against external and internal exploits."

The 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.