ST Engineering

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ST Engineering’s Marine Arm Secures S$560m New Contracts in 4Q2018

ST Engineering announced today that its Marine arm has won S$560m worth of new contracts in the last quarter of 2018. The award of these contracts demonstrates the sector’s ability to deliver total marine and environmental engineering solutions at its facilities in Singapore and the US.
The contracts include :
1. Fast Patrol Boats For the Singapore Police Coast Guard
2. 145 MW Floating Power Barge

More details in http://infopub.sgx.com/FileOpen/ST%20Eng...eID=540406

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ST Engineering's Aerospace Arm Secures Contracts Worth S$450m in 4Q2018, totalling S$2.06bn for 2018

Singapore Technologies Engineering Ltd (ST Engineering) today announced that its Aerospace arm secured new contracts worth about S$450m in the fourth quarter (4Q) of 2018 for services including maintenance and modification for wideranging aircraft parts from the airframe to components.

More details in http://infopub.sgx.com/FileOpen/Aerospac...talling%20$2.06bn%20for%202018.ashx?App=Announcement&FileID=540529

[karlmarx]

That's a major contract. And SIAEC didn't get it!

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ST Engineering’s Electronics Arm Secures S$351m Contract Wins in 4Q2018, Totalling S$2.19b for 2018

ST Engineering announced today that its Electronics arm has clinched S$351m 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 cybersecurity, as well as defence. This brings the total new orders secured in 2018 to S$2.19b.

More details in http://infopub.sgx.com/FileOpen/20190121...ecures%20S$351m%20of%20Contract%20Wins%20for%204Q2018.ashx?App=Announcement&FileID=540980

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ST Engineering Wins First Seaport AGV Contract from PSA

ST Engineering has received its first contract for its autonomous material handling solutions. Its Land Systems arm will supply 80 Automated Guided Vehicles (AGVs) to Singapore’s container port operator, PSA Corporation Ltd (PSA), and integrate the AGVs into the operations of PSA’s next generation port in Tuas. Port operations will commence in phases at Tuas Port from 2021.

The award validates the advancement the Group has made in Robotics and Autonomous Systems. The Group has been deepening its robotics capabilities over the last few years, including a range of solutions for the warehouse, airport, seaport and manufacturing industries.

The AGV can transport two 20 ft or a 40 ft container (weighing up of 65 tonnes) and is fully automated. It can travel at a top speed of 25km/h, and is powered by an eco-efficient electric power system, hence resulting in low levels of emission and noise.

The contract is not expected to have any material impact on the net tangible assets per share and earnings per share of ST Engineering for the current financial year.

More details in https://links.sgx.com/FileOpen/190326%20...eID=548579

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ST Engineering Positions for Growth in Satcom Market, with Offer to Acquire Newtec for €250m

Singapore Technologies Engineering Ltd today announced that its subsidiary Singapore Technologies Engineering (Europe) Ltd, has entered into a conditional share purchase agreement to acquire a 100% ownership in Newtec Group NV (Newtec), an established Belgium-based company in the satellite communications (satcom) industry.

The consideration of €250m (approximately S$383m) on a cash-free and debt-free basis for the Proposed Acquisition, subject to closing adjustments, is payable in cash.

More details in :
1. https://links.sgx.com/FileOpen/ST%20Engi...eID=548868
2. https://links.sgx.com/FileOpen/ST%20Engi...eID=548869

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ST Engineering Secures Contracts worth $2.1b for 1Q2019

Singapore Technologies Engineering (ST Engineering) today announced that its Aerospace and Electronics sectors have secured new contracts with a combined value of about $2.1b for the first quarter (1Q) of 2019.
* Contracts by the Aerospace worth about $1.3b
* Contracts by the Electronics sector worth about $818m

More details in https://links.sgx.com/FileOpen/20190422%...20Worth%20$2.1b%20in%201Q2019%20Final.ashx?App=Announcement&FileID=555011

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ST Engineering Secures up to S$2.6b Polar Security Cutter contract from the U.S. Navy

Singapore Technologies Engineering Ltd (ST Engineering) today announced that the U.S. Department of the Navy has awarded VT Halter Marine, its shipbuilding business in Pascagoula, Mississippi, the Polar Security Cutter (formerly known as the Heavy Polar Ice Breaker) contract.

The U.S. Department of the Navy has awarded VT Halter Marine as the Prime Contractor for a US$745,940,860 (about S$1b) fixed-price incentive-firm contract for the detail design and construction of the U.S. Coast Guard (USCG) Polar Security Cutter (PSC). The PSC contract is a multi-year programme and a USCG major system acquisition to acquire up to three multimission PSCs to recapitalise the USCG fleet of heavy icebreakers.

This contract includes options which, if exercised, would bring the cumulative value of this contract to US$1,942,812,266 (S$2.6b). The first ship delivery is scheduled to occur in 2024. If the options are exercised, the second and third vessels are expected to be delivered in 2025 and 2027 respectively. The vessels are 460 feet in length with a beam of 88 feet overall, a full load displacement of about 33,000 long tons at delivery.

VT Halter Marine was involved in the design analysis study of the PSC since February 2017 and is currently in the production engineering studies support work since February 2019.

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ST Engineering Incorporates New Company Keystone 7 for Aircraft Leasing Business

Singapore Technologies Engineering Ltd (ST Engineering) today announced that it has incorporated a new company, Keystone 7 Limited (Keystone 7) in  Ireland as a wholly-owned subsidiary of Keystone Holdings (Global) Pte Ltd. (Keystone Holdings), with a paid up capital of US$1.00.

Keystone Holdings is a 50-50 joint venture held between ST Engineering AerospaceResources Pte. Ltd. and SJ Aviation Capital Pte. Ltd.. Keystone Holdings, through itssubsidiaries, invests in a portfolio of aircraft that are on lease to global airlines. The setup ofKeystone 7 is to increase its aircraft portfolio.

The setting up of Keystone 7 is 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.

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ST Engineering Secures Contracts Worth $1.5b for 2Q2019

Singapore Technologies Engineering Ltd (ST Engineering) today announced that its Aerospace and Electronics sectors have secured new contracts with a combined value of about $1.5b for the second quarter (2Q) of 2019. This is in addition to the $1b contract announced on 24 April for the design and construction of the first Polar Security Cutter for the Department of the U.S. Navy. The contract includes options for two more vessels, which when exercised would bring the total contract value for the three vessels to about $2.6b. 

Contracts by the Aerospace sector worth about $809m. Contracts by the Electronics sector worth about $702m. 

More details in https://links.sgx.com/FileOpen/ST%20Engi...20Worth%20$1.5b%20in%202Q2019_Final2.ashx?App=Announcement&FileID=571669