ST Electronics Secures SG$416M of Contracts in 3Q

ST Electronics headquarters in Singapore. Photo: ST Electronics

[Via Satellite 10-10-13] Singapore Technologies Electronics (ST Electronics), the electronics arm of Singapore Technologies Engineering (ST Engineering), has secured approximately SG$416 million ($333 million) worth of contracts for rail electronics, satellite communications (satcoms) and communications projects in the third quarter of 2013.

In this period, ST Electronics received contracts of about SG$238 million for communications and electronics systems, advanced Information Technologies (IT) and rail electronics solutions. In the area of satcoms products and broadband communications solutions, the company secured contracts worth about SG$178 million.

Additionally, in the third quarter of 2013, ST Electronics’ range of Agilis compact Ka-band VSAT transceivers was certified to be used with the latest generation of Inmarsat Global Xpress High Throughput Satellites intended for government, enterprises, oil and gas and maritime users worldwide.

These contracts 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.