ST Electronics secures S$480m of contracts in Q3

THE electronics arm of Singapore Technologies (ST) Engineering secured contracts worth about S$480 million in the third quarter of this year.

ST Engineering said in a release on Monday that ST Electronics had won these contracts in the rail electronics & intelligent transportation, satellite & broadband communications as well as advanced electronics & ICT (information communications technologies) solutions sectors.

About S$84 million worth of these contracts were in the rail electronics & intelligent transportation sector, which were awarded by local and overseas customers and will be completed progressively until 2020.

These projects include the deployment of communications system, signalling and platform screen door systems, and an integrated supervisory control system as well as consultancy services, enhancement and maintenance services for intelligent transport systems.

For satellite & broadband communications, contracts amounted to about S$76 million. They came from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations.

About S$320 million worth of advanced electronics & ICT solutions contracts were clinched from both public and private sectors. Among these are contracts for intelligent security management system and operations, maintenance support as well as advanced infocommunication and sensor systems and services, automated metering solutions and smart lighting solutions for government agencies and commercial businesses.

This included an award by Taiwan's Taoyuan International Airport to supply an airport operation control system. This project will be completed in 2019.

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, said the group.

ST Engineering's shares closed flat on Monday at S$3.18.