ST Electronics Secures Total Orders of $2.33 Billion in 2016

13.01.2017 Asia
ST Electronics Secures Total Orders of $2.33 Billion in 2016

ST Electronics Secures Total Orders of $2.33 Billion in 2016

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Singapore Technologies Engineering Ltd (ST Engineering) announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics), secured about $695 million worth of contracts in the fourth quarter (4Q) of 2016 from contracts 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 $71 million were secured from local and overseas customers. These include the supply of a Platform Screen Doors System for Taipei SanYing Mass Rapid Transit (MRT) Line, a Public Address System for Taipei MRT Blue Line, as well as passenger information systems for Wuhan Metro Line 7, Kunming Metro Line 3 and 6. Other projects in this business sector include deployment of communications systems, enhancement and maintenance services for Intelligent Transport Systems as well as Fleet Management Systems. These projects will be completed progressively till 2023.

Satellite & Broadband Communications

Contracts amounting to $95 million were received from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations. These projects will be completed progressively over the next few years.

Advanced Electronics & ICT Solutions

About $529 million worth of Advanced Electronics & ICT contracts were clinched from both public and private sectors. Amongst these are contracts for Intelligent Security Management System, Operations as well as Maintenance Support, development of electronics modules, enhancement of communications and network systems, delivery of portable radios, Advanced Meter Readers (AMR), Smart Lighting solutions, and engineering services for government agencies. These projects will be completed progressively till 2023.

“Together with this quarter’s contract wins of $695 million, we have secured a total of $2.33 billion of new orders for 2016. Against the backdrop of a volatile market, 2016 has been a good year in terms of new orders secured, and we are very encouraged by the support of our customers and partners. With our continued focus on delivering value to our customers, strengthening our core technologies and leading forays into new technological frontiers, we are well positioned for growth opportunities in 2017,” said Mr. Ravinder Singh, President, ST Electronics.

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. ST Electronics is a global engineering company specializing 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.

ST Electronics has a presence in over 20 countries spanning North America, Latin America, Europe, Africa, the Middle East, China, India and Southeast Asia.

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 $6.34 billion in FY2015 and ranks among the largest companies listed on the Singapore Exchange.  It has about 23,000 employees worldwide, and over 100 subsidiaries and associated companies in 46 cities across 24 countries.

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