ST Electronics clinches $2.33b in orders for 2016

It secured $695m in orders for Q4.

ST Electronics has secured a total of $2.33b in contracts for 2016, its parent company ST Engineering reported.

In the fourth quarter, the group secured about $695m worth of contracts in the fourth quarter from contracts for Rail Electronics & Intelligent Transportation, Satellite & Broadband Communications, as well as Advanced Electronics & Information Communications Technologies (ICT) solutions.

Rail Electronics & Intelligent Transportation contracts of about $71m were secured from local and overseas customers, while deals amounting to $95m were received from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations.

About $529m worth of Advanced Electronics & ICT contracts were clinched from both public and private sectors.

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.