ST Engineering secures $1.82b contracts in Q3

The company’s order book exceeded $18b. 

Over $1.82b worth of contracts were acquired by ST Engineering in the third quarter of 2021, according to a media release by the country. 

Notable contracts during this period include the Agil Smart Life Monitoring Solution contract, an order of 18 units of A320/A321 P2F from BBAM, the refurbish and deep level maintenance contract of HMNZ Canterbury for the Royal New Zealand Navy, and the modernisation of comms systems for Singapore's North-South and East-West rail lines and Bukit Panjang LRT. 

Of the three sectors handled by ST Engineering, commercial aerospace had the most valued contracts at $1.03b. This was followed by urban solutions and satcom, and defence and public security, with $382m and $413m, respectively.

The company’s order book also exceeded $18b, with $1.9b expected in the remaining months of 2021. 

The capacity utilisation rate was at 80% in the same period, compared to two-thirds in the first half of 2021. International flights also helped speed up MRO recovery. The group also said stated the demand for P2F stays strong, with A330 PS2F slots booked through mid-2025 and A320/A321 slots fully booked through mid-2024.