ST Engineering’s Electronics Arm Secures S$166m of Rail Electronics and Satellite Communications Contracts in 3Q2012

 

4 October 2012

Singapore Technologies Engineering Ltd announced that its electronics sector, Singapore Technologies Electronics Limited (ST Electronics), has won about S$166m worth of contracts for its Rail Electronics and Satellite Communications (Satcom) and Sensor solutions in 3Q2012.

On Rail Electronics solutions, a consortium led by ST Electronics was awarded a RMB198m (about S$39m) contract in the city of Wuxi,China. Partnering Jiangsu Daway Technologies Co., Ltd, ST Electronics will supply, deliver, install, test and commission as well as provide warranty for an Integrated Supervisory Control System for Wuxi Metro Lines 1 and 2. Work has started and will be completed by the end of 2014.

ST Electronics was also awarded a contract by VGI Global Media Public Company Limited to supply half height platform screen doors for the BTS SkyTrain in Bangkok,Thailand. The S$13m contract includes two-year maintenance services of the doors, which will be installed in nine BTS Skytrain stations. Work has commenced and is expected to be completed at the end of 2013.

Separately on Satcom and Sensor solutions, ST Electronics secured about S$114m worth of contracts for the supply of Satcom systems to mostly international customers in 3Q2012. These contracts are for the supply of Satcom network infrastructure and products including Satellite hubs and routers, earth stations, cellular backhaul solutions and the Agilis VSAT (Very Small Aperture Terminal) systems.

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.