ST Engineering's electronic arm wins $480m worth of contracts in 3Q

The major bulk was from advanced electronics & ICT solutions.

ST Engineering announced that its electronics arm, ST Electronics, secured about $480m worth of contracts in the third quarter (3Q) of 2016.

The breakdown is as follows:

Rail Electronics & Intelligent Transportation

Rail Electronics & Intelligent Transportation contracts of about $84m were awarded by local and overseas customers. These projects include the deployment of Communications System, Signalling and Platform Screen Door Systems and an Integrated Supervisory Control System as well as consultancy services, enhancement and maintenance services for Intelligent Transport Systems. These projects will be completed progressively till 2020.

Satellite & Broadband Communications

Contracts amounting to $76m were secured from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations.

In July, the Electronics Sector successfully launched its TeLEOS-1 commercial imagery service together with a multi-source imagery GeoPortal to offer value-added geospatial imagery service to their customers. This marks a significant milestone as this is a world’s first commercial imagery service providing one metre resolution with the fastest response time from a Near-Equatorial Orbit remote sensing satellite.

Advanced Electronics & ICT Solutions

About $320m worth of Advanced Electronics & ICT contracts were clinched from both public and private sectors. Amongst these are contracts for Intelligent Security Management System and Operations, Maintenance Support as well as advanced info-communication and sensor systems and services, automated metering solutions and smart lighting solutions for government agencies and commercial businesses. InTaiwan, there was an award byTaiwanTaoyuanInternationalAirportto supply an Airport Operation Control System. This project will be completed in 2019.

On the cyber security front, since the launch of the STEE-SUTD Cyber Security Laboratory in May this year, the Lab has progressed in full gear on a research project to develop novel automated algorithms to detect possible malicious insiders based on users’ behaviours and network information. In addition, the DigiSAFE Data Diode is the first made-in-Singapore data diode to receive its accreditation under the National IT Evaluation Scheme (NITES) which is regulated by Cyber Security Agency (CSA) of Singapore.

In a statement, ST Engineering said that these contracts are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of the company for the current financial year.