ST Engineering bags contracts worth over S$1.6b in Q1
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Janice Heng
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Singapore
ST Engineering's aerospace and electronics segments secured more than S$1.6 billion in new contracts in the first quarter of 2020, with its land systems arm also securing a defence contract, the group announced on Monday after market close.
About S$838 million in aerospace contracts were secured across the group's aviation manufacturing and MRO (maintenance, repair and overhaul) businesses. The MRO contracts included A320 heavy-maintenance contracts and engine-maintenance contracts from Chinese airlines, and a component maintenance-by-the-hour contract from a South-east Asian airline, as well as contracts announced in February's Singapore Airshow.
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