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ST Engineering focuses on synergies from US$2.7 billion acquisition to reach greater heights

The group is on course for achieving its financial targets

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Tay Peck Gek

Tay Peck Gek

Published Mon, Apr 29, 2024 · 05:00 AM
    • Vincent Chong, group chief executive officer of ST Engineering, says there are investment opportunities beyond mergers and acquisitions for the mainboard-listed group.
    • ST Engineering group CEO Vincent Chong says investing across business cycles during the pandemic helped the group recover more quickly.
    • Vincent Chong, group chief executive officer of ST Engineering, says there are investment opportunities beyond mergers and acquisitions for the mainboard-listed group. PHOTO: YEN MENG JIIN, BT
    • ST Engineering group CEO Vincent Chong says investing across business cycles during the pandemic helped the group recover more quickly. PHOTO: YEN MENG JIIN, BT

    SINGAPORE Technologies Engineering (ST Engineering) is reaping the synergies from its acquisition of TransCore – its largest yet – after hitting its financial milestones for the US$2.7 billion purchase.

    Vincent Chong, group chief executive of the technology, defence and engineering powerhouse, said the group was working to make sure it delivers “the outcomes that we want to achieve in the acquisition”.

    When ST Engineering announced that it was buying TransCore in 2021, it envisaged that the North American electronic tolling and congestion pricing solutions provider would fast-track its goal of becoming a market leader in smart mobility.

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