ST Engineering’s Electronics Arm Secures S$351m Contract Wins in 4Q2018, Totalling S$2.19b for 2018January 21, 2019 Singapore
Singapore, 21 January 2019 – ST Engineering announced today that its Electronics arm has clinched S$351m worth of contracts in the fourth quarter (4Q) of 2018. These contracts were for its solutions in mobility, satellite communications, Internet of Things (IoT), and cybersecurity, as well as defence. This brings the total new orders secured in 2018 to S$2.19b.
“2018 has been an exciting year as we maintained momentum in new orders,” said Mr Ravinder Singh, President of ST Engineering’s Electronics sector. “With strong support of our partners and customers, we have been able to deliver innovative solutions. Our international growth plans are progressing well, and we are well positioned to drive more smart cities initiatives.”
The Electronics sector secured contracts to supply a Passenger Information System for Shanghai Metro Line 14, and Platform Screen Doors for Bangkok’s MRT line. In Singapore, contracts were secured to supply communications systems for Circle Line Stage 6 and Thomson Line, as well as maintenance works on the Expressway Monitoring and Advisory System. These projects will be completed progressively till 2020.
Enhancing satellite connectivity
The Electronics sector reinforced its commitment to driving technology and innovation in the satellite business, joining the global SATis5G Consortium funded by the European Space Agency (ESA), to promote the cost-effective integration of satellite technology into 5G networks. It also partnered Kymeta to create a seamless, real-time communications hub for first responders at the frontlines that can make a difference between life and death in emergency situations. It supplied satellite communications solutions that enhanced connectivity in remote and rural areas across Argentina. These projects are being completed progressively.
Driving smart city connectivity
Partnering Singapore in its Smart Nation drive, the Electronics sector was appointed for the Lamppost-as-a-Platform trial in Geylang and one-north business park in Buona Vista with smart, connected lamp posts. It also secured contracts to enable near real-time management of urban water resources and smart street lightning in cities in New Zealand, Canada, Sweden, Israel and the USA. These projects will be completed progressively till 2023.
Strengthening public safety and security
ST Engineering’s award-winning AgilFence Perimeter Intrusion Detection System, which had been evaluated for US aviation use after completing a rigorous testing process by US-based National Safe Skies Alliance, was selected by SP Group to provide a stronger and robust security infrastructure for 48 of its critical power substations. The SkyArcher Counter Drone system was also delivered to counter increasing drone threats in Singapore’s airspace. The sector was also awarded contracts for the delivery of cybersecurity products including data diodes and the DiskCrypt M10, which had gained global recognition with a CES 2019 Innovation Award. Contracts for defence solutions were won for soldier optics, training and instrumentation systems, as well as Command, Control, Communications and Computers (C4) solutions. These projects will be completed progressively till 2024.
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.
Note to editor:
From June 2018, we have harmonised the corporate brands of our subsidiaries by using one masterbrand “ST Engineering”. We continue to highlight our four business sectors as Aerospace, Electronics, Land Systems and Marine. To find out more, pls visit www.stengg.com/news/masterbrand.
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 more than 100 countries. Its employees bring innovation and technology together to create smart engineering solutions for customers in the defence, government and commercial segments. 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, please 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.
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