ST Engineering’s Electronics Arm Drives International Growth with S$764m Contract Wins in 2Q2018July 20, 2018 Singapore
ST Engineering announced today that its electronics arm secured S$764m worth of contracts in the second quarter (2Q) of 2018. These were driven by Smart City solutions in mobility, satellite communications, Internet of Things (IoT), public safety & security and cybersecurity, as well as defence solutions.
Enabling smart, seamless and safe mobility
ST Engineering’s electronics sector continued gaining steady traction in its global mobility business, with contracts awarded to deploy an advanced traffic management system in the Middle East; smart communications systems for Taipei MRT Xinyi Line (Red Line) Eastern Extension and Xinzhuang Line Depot; as well as a Passenger Information System for the Wuhan Metro Line 7 (South Extension Line). The sector continued to play a part in enhancing Singapore’s transport system with the provision of a communications system for the North-South Corridor, and power system upgrading works on the North-South and East-West MRT lines for Meiden Singapore. These projects will be completed progressively till 2026.
Advancing smart satellite connectivity through global collaborations
The electronics sector’s satellite connectivity business continued to enlarge its global market share by winning contracts with key satellite service providers in Latin America and Africa, like Andesat, Broadband Systems Corporations and Nigerian Communications Satellite. The sector also announced that it has partnered with Kymeta to jointly deliver an enhanced satellite communications solution to expand into new land mobility markets such as trains, buses, agriculture and construction. The sector also secured a contract from Orbit Communications to jointly enable high performance, cost-effective satellite connectivity for the maritime communications industry. Following its announced plans to expand into the high-growth In-flight Connectivity Market in February, a new Joint Venture named Jet-Talk has been established in the UK. On the new technology front, the electronics sector was part of a global SaT5G Consortium-led live test of the seamless integration of satellite technology with 5G networks, a significant milestone expected to notably transform the global communications industry making global connectivity closer to reality. These projects have been completed and delivered.
Powering global cities with IoT technology
Forging ahead with its global smart city expansion plans, ST Engineering was selected to implement its first North Asia IoT-enabled smart street lighting pilot in Kowloon East, paving the way for an island-wide IoT deployment as part of Hong Kong’s smart city blueprint. This project will be completed progressively till end 2019.
Strong demand for safer and more secured cities
ST Engineering’s electronics sector was awarded a contract in Brazil to use its state-of-the-art radar solution to enhance the security of Itapu Hydroelectric Dam, the world’s second largest hydropower and a strategic energy resource for both Brazil and Paraguay. Contracts were also awarded for the supply of an incident response trainer, automated biometrics systems equipped with video analytics capabilities, as well as a Cybersecurity Operations Centre, to enhance the security capabilities of local enforcement bodies. Contracts for defence solutions were won for managed services, Command, Control, Communications and Computers (C4) solutions, Unmanned Surface Vehicle (USV), network training and ship handling simulation. These projects will be completed progressively till 2023.
These contracts are not expected to have any material impact on the consolidated net tangible assets per share and earning per share of ST Engineering for the current financial year.
ST Engineering is a global technology, defence and engineering group specialising in the aerospace, electronics, land systems and marine sectors. The Group employs about 22,000 people across offices in Asia, the Americas, Europe and the Middle East, serving customers in the defence, government and commercial segments in more than 100 countries. With more than 500 smart city projects across 70 cities in its track record, the Group continues to help transform cities through its suite of Smart Mobility, Smart Security and Smart Environment solutions. Headquartered in Singapore, ST Engineering reported revenue of S$6.62b in FY2017 and it ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, MSCI Singapore, SGX ESG Transparency Index and SGX ESG Leaders Index. For more information, visit www.stengg.com.
The Electronics sector specialises in the design, development and delivery of Information and Communications Technology (ICT) products, solutions and services addressing the needs of Smart Cities for Connectivity, Mobility and Security. Its deep technological and engineering expertise straddles business domains in Rail & Road engineering, Satellite Communications, Public Safety & Security, Cybersecurity, Artificial Intelligence, Training & Simulation, Managed Services and Defence C4ISR. It has presence in more than 30 global cities across North America, Latin America, Europe, Africa, the Middle East, China, India and Southeast Asia. For more information, please visit www.stengg.com.
Head, Corporate Communications & Investor Relations
Tel: (65) 6722 1818
Assistant Vice President, Corporate Communications
Tel: (65) 6722 1689