Singapore Technologies Electronics Wins $468M in Q4 2013 Contracts

Singapore Technologies Engineering building. Photo: Singapore Technologies Engineering

[Via Satellite 01-14-14] Singapore Technologies Electronics, the electronics branch of Singapore Technologies Engineering has secured about $468 million worth of contracts in the fourth quarter of 2013 for intelligent transportation, satellite communications (satcom), and advanced electronics and information communications technologies (ICT) solutions. ST Electronics received the Via Satellite Excellence Award for Technology and Social Media Company Of The Year for 2013.

Sales in satellite and broadband communications contributed roughly $92 million in 4Q 2013. Satcom operators such as Etisalat in the Gulf, SimbaNET in Nigeria and Elara Comunicaciones from Mexico allotted these contracts for ST Engineering’s satcom networks and radio frequency products. 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.

Rail electronics and intelligent transportation brought in approximately $98, and advanced electronics and ICT solutions brought in nearly $279 million. 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.