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ST Engineering's electronics arm wins S$650m contracts in Q2
SINGAPORE Technologies Engineering (ST Engineering) announced on Wednesday that its electronics arm, Singapore Technologies Electronics (ST Electronics), has secured about S$650 million worth of contracts in the second quarter (Q2) of 2016.
These include contracts for Rail Electronics & Intelligent Transportation (worth about S$210 million), Satellite & Broadband Communications (S$80 million), as well as Advanced Electronics & Information Communications Technologies Solutions (S$360 million).
ST Engineering added that in May, the S$44.3 million ST Electronics-SUTD Cyber Security Laboratory was launched to advance "new frontiers" in cybersecurity technologies and build "next-generation" solutions and products.
In addition, a memorandum of understanding was signed during CommunicAsia 2016 with Motorola Solutions to co-create "innovative technologies" for advanced secured communications in public safety, national security and enterprise sectors.
Lee Fook Sun, president of ST Electronics, noted that including Q2's contract wins of S$650 million, ST Electronics has secured a total of S$1.16 billion of new orders in the first half of 2016.
He said: "This is a result of good team effort across all segments, bolstered by several significant overseas orders including a S$152 million rail electronics project and a contract for a large public security project."