Singapore Technologies Engineering $416m contract for satellite and communication systems 1510133

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Defence & Security Industry News - ST Engineering
 
 
Tuesday, October 15, 2013 11:13 AM
 
Singapore Technologies Engineering $416m contract for satellite and communication systems.
Singapore Technologies Engineering Ltd (ST Engineering) announced October 9, 2013, that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about S$416m worth of contracts for rail electronics, satellite communications (satcoms) and communications projects in the third quarter of 2013.
     
Singapore Technologies Engineering Ltd (ST Engineering) announced October 9, 2013, that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about S$416m worth of contracts for rail electronics, satellite communications (satcoms) and communications projects in the third quarter of 2013.
ST Engineering is a Singapore-homegrown engineering group specialising in innovative solutions and services in the Aerospace, Electronics, Land Systems and Marine sectors.
     

ST Electronics further strengthened its position as a leader in providing advanced electronics and Information Communications Technologies (ICT) and integrated rail electronics solutions in 3Q2013. This was evidenced by contracts of about S$238m awarded in the quarter for communications and electronics systems, advanced Information Technologies (IT) and rail electronics solutions.

In the area of satcoms products and broadband communications solutions, ST Electronics secured contracts worth about $178m. In 3Q2013, its range of Agilis compact Ka-band VSAT transceivers was certified to be used with the latest generation of Inmarsat Global Xpress High Throughput Satellites intended for government, enterprises, oil and gas and maritime users worldwide.

“Our advanced ICT and satcom systems continued to enjoy strong support from a growing customer base in recognition of their reliability and cost-effectiveness. As a leading provider in advanced electronics and ICT systems, we develop solutions that improve our customers’ abilities to cope with the increasing demands of today’s business environment. We also enlarged our rail electronics footprint globally, making headway into North and South America." ~ LEE Fook Sun, President, ST Electronics.

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.