ST Engineering bags contracts worth $1.6b in Q1

Over half or $838m were clinched by its aerospace sector.

Singapore Technologies Engineering (ST Engineering) received new contracts worth about $1.6b in Q1 2020, according to a news release. These are on top of a defence contract that its land systems arm secured.

The group’s aerospace sector secured about $838m across its aviation manufacturing and maintenance, repair and operations (MRO) businesses. These contracts include those previously announced in February during Singapore Airshow 2020.

Meanwhile, its electronics sector clinched about $730m worth of contracts for products and solutions in smart mobility, cybersecurity, data analytics as well as training and simulation.

Further, the group’s land systems arm secured a Phase 2 contract for the production and supply of the Hunter Armoured Fighting Vehicle from the Ministry of Defence. ST Engineering will also provide integrated logistics support, including spares, training and documentation.

Due to the pandemic, ST Engineering said that they are in discussion with their customers to adjust delivery schedules or to address order cancellations, but assured that its order book in Q1 remains robust.