ST Engineering’s electronics arm secures US$258mil contract wins in 4Q18
By Digital News Asia January 22, 2019
- This brings the total new orders secured in 2018 to US$1.6 billion
- Well positioned to drive more smart cities initiatives
ST ENGINEERING announced on Jan 21 that its electronics arm has clinched US$258.28 million (S$351 million) worth of contracts in the fourth quarter (4Q) of 2018.
These contracts were for its solutions in mobility, satellite communications, Internet of Things (IoT), and cyber-security, as well as defence. This brings the total new orders secured in 2018 to US$1.6 billion (S$2.19 billion).
“2018 has been an exciting year as we maintained momentum in new orders,” said Ravinder Singh (pic), president of ST Engineering’s electronics sector.
“With strong support of our partners and customers, we have been able to deliver innovative solutions. Our international growth plans are progressing well, and we are well positioned to drive more smart cities initiatives.”
The electronics sector secured contracts to supply a Passenger Information System for Shanghai Metro Line 14, and Platform Screen Doors for Bangkok’s MRT line.
In Singapore, contracts were secured to supply communications systems for Circle Line Stage 6 and Thomson Line, as well as maintenance works on the Expressway Monitoring and Advisory System. These projects will be completed progressively till 2020.
Enhancing satellite connectivity
The electronics sector reinforced its commitment to driving technology and innovation in the satellite business, joining the global SATis5G Consortium funded by the European Space Agency (ESA), to promote the cost-effective integration of satellite technology into 5G networks.
It also partnered Kymeta to create a seamless, real-time communications hub for first responders at the frontlines that can make a difference between life and death in emergency situations.
It supplied satellite communications solutions that enhanced connectivity in remote and rural areas across Argentina. These projects are being completed progressively.
Driving smart city connectivity
Partnering Singapore in its Smart Nation drive, the electronics sector was appointed for the Lamppost-as-a-Platform trial in Geylang and one-north business park in Buona Vista with smart, connected lamp posts.
It also secured contracts to enable near real-time management of urban water resources and smart street lightning in cities in New Zealand, Canada, Sweden, Israel and the USA. These projects will be completed progressively till 2023.
Strengthening public safety and security
ST Engineering’s AgilFence Perimeter Intrusion Detection System, which had been evaluated for US aviation use after completing a rigorous testing process by US-based National Safe Skies Alliance, was selected by SP Group to provide a stronger and robust security infrastructure for 48 of its critical power substations.
The SkyArcher Counter Drone system was also delivered to counter increasing drone threats in Singapore’s airspace.
The sector was also awarded contracts for the delivery of cyber-security products including data diodes and the DiskCrypt M10, which had gained global recognition with a CES 2019 Innovation Award.
Contracts for defence solutions were won for soldier optics, training and instrumentation systems, as well as Command, Control, Communications and Computers (C4) solutions. These projects will be completed progressively till 2024.
These contracts are not expected to have any material impact on the consolidated net tangible assets per share and earning per share of ST Engineering for the current financial year.
Headquartered in Singapore, ST Engineering reported revenue of S$6.62 billion in FY2017 and it ranks among the largest companies listed on the Singapore Exchange.
Related Stories :