• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • NEWS:
  • SatNews
  • SatMagazine
  • MilSatMagazine
  • SmallSat News
  • |     EVENTS:
  • SmallSat Symposium
  • Satellite Innovation

SatNews

  • HOME
  • Magazines
  • Events
  • Perspectives
  • Industry Calendar
    • IN PERSON
    • VIRTUAL
  • Subscribe

ST Engineering Attracts $1.6 Billion+ in Contracts

April 24, 2020

Singapore Technologies Engineering Ltd (ST Engineering) has announced new contracts worth about $1.6 billion, secured by the company’s Aerospace and Electronics sectors during the first quarter (1Q) of 2020 — these contracts are over and above a defense contract that the firm’s Land Systems arm secured.

Contracts by the Aerospace Sector Worth About $838 Million
The Group’s Aerospace sector secured about $838m across its spectrum of aviation manufacturing and MRO businesses.
     The MRO contracts included A320 heavy maintenance contracts and CFM56-7B engine maintenance contracts from Chinese airlines, and a component Maintenance-By-the-Hour (MBHTM) contract from a Southeast Asian airline to provide comprehensive component maintenance services for its entire fleet of Boeing 737 and Bombardier Q400. These 1Q contracts comprised those previously announced in February during Singapore Airshow 2020, namely: multi-year engine and component MRO contracts from a South Korean airline; a five-year nacelle maintenance contract and a three-year airframe heavy maintenance contract.

Contracts by the Electronics Sector Worth About $730 Million
The Group’s Electronics sector secured about $730m worth of contracts for products and solutions in smart mobility, cybersecurity, data analytics as well as training and simulation.
     In cybersecurity, the sector secured multiple contracts for the provision of Security Operations Centers, enhanced security monitoring services and cybersecurity advisory support for government, critical infrastructure and enterprise customers.
     The sector’s smart mobility business expanded its footprint in India when it clinched contracts to provide Platform Screen Doors for two underground stations in the Chennai Metro Rail Phase 1 Extension, and a contract to deliver a Passenger Information System for 31 trains in Mumbai Metro Line 3.
     The sector’s data analytics business received a boost with a contract from PUB, Singapore’s National Water Agency, to enhance and maintain its Intelligent Water Management System which will enable the agency to better meet future water demands. Its training and simulation business secured two contracts geared towards supporting experiential learning needs.

Defense Contract by the Land Systems Sector
In addition to the above $1.6 billion in new contracts, the Group’s Land Systems arm secured a Phase 2 contract for the production and supply of the Hunter Armored Fighting Vehicle from the Singapore Ministry of Defence. Under the contract, ST Engineering will also provide integrated logistics support which includes spares, training and documentation.

Outside of these contracts, there are others that the Group has secured but are not disclosed in this announcement due to customer confidentiality reasons.

Due to the COVID-19 pandemic and its evolving circumstances, the Group is discussing with its customers to adjust delivery schedules or address order cancellations. As at the end of 1Q, the Group’s order book remains robust.

The above developments 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.

All figures are denominated in Singapore dollars, unless otherwise indicated.

Filed Under: News

Primary Sidebar

Most Read Stories

  • AST Space Mobile To Become A Publicly Traded Company
  • CNES Selects ANYWAVES For Reflectarray Antenna For Smallsats Demo
  • UPDATE 3: A Successful 'Another One Leaves The Crust' Launch Completed By Rocket Lab
  • SpaceX Launches The NROL-108 Mission For The NRO From Kennedy Space Center
  • NASA's Landsat-9 USSF Developed ESPA EFS Passes Design Status Review 3

About Satnews

  • Contacts
  • History

Archives

  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020

Secondary Sidebar

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.OkPrivacy policy
We Love Our Advertisers.
And you will too!

Please disable your adblock browser plugin to continue...

We promise to keep it unobtrusive.
We promise not to spam you. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing! Please check your email for further instructions.
x
Sign up Now (For Free)
Access daily or weekly satellite news updates covering all aspects of the commercial and military satellite industry.
Invalid email address
Notify Me Regarding ( At least one ):
We value your privacy and will not sell or share your email or other information with any other company. You may also unsubscribe at anytime.

Click Here to see our full privacy policy.
Thanks for subscribing!