Singapore Technologies Engineering Ltd (ST Engineering) announced today that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about $505m worth of contracts in the first quarter (1Q) of 2016 for Rail Electronics & Intelligent Transportation, Satellite & Broadband Communications, as well as Advanced Electronics & Information Communications Technologies (ICT) solutions.
Rail Electronics & Intelligent Transportation
Rail Electronics & Intelligent Transportation contracts of about $41m were secured from local and overseas customers. This comprises contracts for communications systems as well as projects including the supply of the Passenger Information System to CRRC Qingdao Sifang Co. Ltd (for 744 train cars in the Hong Kong MTR) and the delivery of Trainborne Communications System for the Riyadh Metro in Saudi Arabia. Other projects in this business sector include maintenance services for Intelligent Transport Systems as well as operations and maintenance services for a carpark management system. These projects will be completed progressively till 2023.
Satellite & Broadband Communications
For Satellite & Broadband Communications, ST Electronics received contracts amounting to about $91m from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations. This includes an order from Verizon for the supply of iDirect satellite routers.
Our intelligent sensors have been deployed to provide a highly effective solution against physical intrusion into critical facilities such as airports, transportation hubs and high-end property developments. Meanwhile, these intelligent sensors have also been used to enable smart nation application, for example in the management of green building and estates, improving the quality of our living environment through more efficient use of energy. In 1Q2016, new orders received include a contract to implement green lighting management for a residential estate in the region.
We continue to receive much interest in TeLEOS-1, Singapore’s first commercial Earth Observation Satellite developed and constructed by ST Electronics. In the quarter, we unveiled high-quality images taken of iconic locations including Changi Airport, Sentosa Island and Singapore Sports Hub in Singapore as well as the Panama Canal at the recent Singapore Airshow 2016 and the Global Space and Technology Convention 2016.
Advanced Electronics & ICT Solutions
About $373m worth of Advanced Electronics & ICT contracts were clinched from both public and private sectors. These contracts include provision of Intelligent Security Management System, Operations, Maintenance Support as well as advanced info-communication and sensor systems and services, supply chain managed services and maintenance for network infrastructure to government agencies and commercial businesses. For instance, Telematics Wireless, a subsidiary focused on smart city applications, has been selected to deploy its T-light™ Pro streetlight control and monitoring system across the Borough of Southend-on-Sea in the United Kingdom which includes some 14,500 Light Control Units (LCU), system gateways and a management control solution. These projects will be completed progressively till 2022.
“During this active first quarter, ST Electronics remained focused on growth opportunities, reaching out to local and global markets with a strategic portfolio of smart solutions that make cities more efficient, sustainable and secure, as showcased during the Singapore Airshow 2016,” said Mr Lee Fook Sun, President, ST Electronics.
“Security in particular has become critical as incursions – both physical and cyber – are on the rise and have an impact on all facets of our lives. As the leading cyber security solution provider in Singapore, ST Electronics provides trusted, indigenous and future-ready cyber security solutions to protect critical infrastructure and networks. We offer a comprehensive suite of cyber defence solutions and services which we continue to develop, with a recent achievement being the attainment of Approved Training Organisation (ATO) status accredited by Workforce Development Agency (WDA) for our training arm, Digisafe Cyber Security Centre. We bring both cyber security expertise and deep domain knowledge to government agencies and commercial customers to combat growing cyber threats and protect critical infrastructures against external and internal exploits,” Mr Lee continued.
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.
ST Electronics (Singapore Technologies Electronics Limited) is the electronics arm of Singapore Technologies Engineering Ltd, one of the largest public-listed companies on the Singapore Stock Exchange. ST Electronics is a global engineering company specialising in the design, development and integration of advanced electronics and communications systems. Our capabilities are in Rail & Intelligent Transportation; Satellite & Broadband Communications; Info Comm Technologies; Command & Control operations, Training & Simulation; Intelligent Building & Security Systems and Cybersecurity. We have a presence in over 20 countries spanning North America, Latin America, Europe, Africa, the Middle East, China, India and Southeast Asia. For more information, please visit www.stengg.com/en/electronics.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of S$6.54b in FY2014 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries. Please visit www.stengg.com for more information.
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