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ST Electronics secures S$490m worth of contracts in Q2

THE electronics arm of Singapore Technologies Engineering (ST Engineering), ST Electronics, has secured about S$490 million worth of contracts in the second quarter of 2017. These are for rail electronics and intelligent transportation, satellite and broadband communications, and advanced electronics and ICT (infocomm technologies) solutions.

The rail electronics and intelligent transportation contracts, from local and overseas customers, were worth around S$131 million. These projects will be completed progressively till 2024.

In the satellite and broadband communications area, contracts amounting to S$57 million were awarded by 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.

ST Electronics secured contracts worth about S$302 million to provide advanced electronics and ICT solutions to customers from the public and private sectors. Some of these include the delivery of a public safety system, contracts for network infrastructure and communications, as well as cybersecurity solutions. These projects will be completed progressively till 2022.

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The company has also joined forces with the Maritime and Port Authority to enhance Singapore Port and shipping operations, with a focus on developing next-generation vessel traffic management systems, intelligent systems for shipping operations, autonomous port operations, and robotics for harbour-craft operations in Singapore Port.

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.