ST Engineering breaches S$10 to close at all-time high of S$10.11; 4.1% surge follows raft of new product news
The company’s announcements at the Singapore Airshow include a new hovercraft vessel, satellites and its biggest cargo drone
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[SINGAPORE] Shares of ST Engineering jumped as much as 4.5 per cent in intraday trading on Monday (Feb 9), climbing to a record high after the Singapore Airshow.
The counter rose to a peak of S$10.15 at 2.05 pm before closing at S$10.11, a 4.1 per cent or S$0.40 increase from its closing price of S$9.71 on Feb 6.
ST Engineering made multiple announcements at the recently concluded Singapore Airshow, including the unveiling of the AirFish, a hovercraft-like vessel that skims over water and is set to start taking passengers from Singapore to Batam in the second half of 2026.
The company also announced that it will design and develop new satellites in Singapore and debuted its largest cargo drone.
In addition, ST Engineering inked a pact with Shield AI at the show to integrate the defence technology company’s “Hivemind” autonomy software into its drone platforms.
The collaboration aims to enable ST Engineering’s drones to operate autonomously in GPS-denied environments, where traditional communications are jammed or unavailable.
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The commercial aerospace business also entered agreements with Xiamen Airlines and Delta Air Lines for the maintenance, repair and overhaul (MRO) of their engines and aircraft. The division will also carry out a cabin modification programme for an Airbus A330 MRTT+ air-to-air refuelling and transport jet.
In January, ST Engineering said its total contract awards for 2025 reached a record of S$18.7 billion, exceeding the S$12.6 billion total in 2024 by about 49 per cent.
This prompted RHB to raise its target price for the group to S$10.70 from S$9.40.
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ST Engineering earlier said that it expected to report a positive net profit for the second half of 2025, after considering all the one-off effects for the half-year period.
For the nine months ended Sep 30, the group recorded a 9 per cent year-on-year increase in revenue to S$9.1 billion, its latest business update indicated. The improvements followed robust performances across its three business segments and a strong order book.
It is set to release its financial results on Feb 27.
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