ST Engineering obtains contracts worth around S$2 billion in 1Q19

Singapore five-dollar note Photo by Leslie Shaffer

ST Engineering’s aerospace and electronics sectors obtained new contracts valued at around S$2.1 billion for the first quarter, the technology and defense company said in a filing to SGX Monday.

The aerospace sector secured contracts of around S$1.3 billion, the filing said.

That included a 10-year service agreement from a long-time customer and major North American operator to provide heavy maintenance checks for its fleet of A300 and Boeing 757 planes, ST Engineering said.

The aerospace segment also obtained contracts from new airline customers in Africa and Europe for component repair services for the Bombardier Q400, it said. Other contracts cover engine wash and equipment-leasing services to customers in the Middle East and Europe, it said.

The electronics segment obtained contracts valued at around S$818 millin for mobility, satellite communications, Internet of Things (IoT), cybersecurity, public safety and security, and defense, ST Engineering said.

The contracts included supplying an automatic fare collection system for Bangkok MRT Gold Line, maintenance and enhancement work for Bangkok MRT Purple Line, a control system for Wuxi Metro Line 3 and a passenger information system for the Taiwan Railway Authority’s trains, the filing said.

It also said it obtained a contract for a mobile communications network for passengers on Singapore’s Downtown Line 3 extension.

New defense contracts included engineering support services for communications and sensor equipment, ST Engineering said.

It added that other contracts couldn’t be disclosed due to customer confidentiality.

 

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