ST Electronics wins S$593m in contracts in 4Q2013

Led by electronics and ICT contracts.

Singapore Technologies Engineering Ltd (ST Engineering) announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about S$593m worth of contracts in the fourth quarter of 2013 for intelligent transportation, satellite communications (satcom) and communications, and advanced electronics and Information Communications Technologies (ICT) solutions.

In the area of intelligent transportation systems, ST Electronics was awarded contracts worth about S$124m comprising both road traffic and rail electronics solutions including support, enhancement and enforcement systems. Building on its leadership in the area of rail electronics, ST Electronics closed the year with the following contract wins: Bangkok Purple Line, Thailand (communications, automatic fare collection and platform screen doors systems), Wuhan Line 4, China (traffic control centre), Wuxi Lines 1 & 2, China (maintenance management / enterprise asset management systems), and Wuri-Wenxin-Beitun Line, Taiwan (platform screen doors for the Taichung Rapid Transit System.)

Work on these projects have started and will be completed progressively with the latest to be completed in 2017

Meanwhile, ST Electronics secured contracts worth about $116m in 4Q2013 for its satcom networks and radio frequency products from satcom operators such as Etisalat in the Gulf, SimbaNET from Nigeria and Elara Comunicaciones from Mexico. The company's solutions serve to enhance its customers’ broadband infrastructure, resulting in improvements in higher throughput and more efficient services for governments, oil-and-gas exploration and other social and enterprise network providers.

In the area of advanced electronics solutions and ICT solutions, ST Electronics secured several contracts totaling about S$353m. These were awarded for integrated security management systems, systems integration, operational and maintenance support and services, network infrastructure solutions, integrated communications, smart utilities solutions and cyber security solutions for government as well as private enterprises.

“2013 had been a good year for ST Electronics in terms of orders received. We appreciate the support and confidence shown to us by our customers and partners as we continue to build our track record. We will work hard to deliver on the projects and on our service commitments to help our customers transform their businesses and make a difference in what they do," said Lee Fook Sun, President, ST Electronics.

These contract wins 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.