ST Engineering's electronics arm secures $351 mil contract wins in 4Q18
SINGAPORE (Jan 21): ST Engineering announced that its electronics arm has secured $351 million worth of contracts in 4Q18, bringing the total amount of contract wins in 2018 to $2.19 billion.
These contracts were for its solutions in mobility, satellite communications, Internet of Things (IoT), and cybersecurity, as well as defence.
The group 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.
ST’s electronics sector also joined 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.
The group was also appointed for the Lamppost-as-a-Platform trial in Geylang and one-north business park in Buona Vista with smart, connected lamp posts. This project is a part of the Singapore government’s Smart Nation drive.
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.
ST Engineering’s award-winning 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.
In addition, it was also awarded contracts for the delivery of cybersecurity products including data diodes and the DiskCrypt M10.
Contracts for defence solutions were won for soldier optics, training and instrumentation systems, as well as Command, Control, Communications and Computers (C4) solutions.
All the above projects will be completed progressively. The contracts are also not expected to have any material impact on the consolidated net tangible assets per share and earnings for the current financial year.
Shares in ST Engineering closed 3 cents lower at $3.66 on Monday.
