SINGAPORE (Jan 30): ST Engineering has secured contracts worth some $1.5 billion in 4Q19, bringing its total announced contract value for FY19 to $8 billion.
In a regulatory filing on Thursday, the group reported that about $1.1 billion worth of these contracts were secured by its aerospace sector, bringing its total contract wins for the year to $4.2 billion, doubling from the previous year.
These contracts included ST Engineering’s spectrum of aviation manufacturing and MRO service businesses including nacelle components, floor panel manufacturing, as well as airframe and engine maintenance services.
The group’s electronics sector had bagged contracts totalling $449 million, bringing its total contract wins in 2019 to $2.8 billion, compared to $2.2 billion the year before.
These contracts included products and solutions in smart mobility, satellite communications (satcom), Internet of Things (IoT), cybersecurity, public safety and security, and defence.
ST Engineering noted that its public safety and security business has secured key new wins including an Air Traffic Control Tower Simulator system for the Civil Aviation Authority of the Philippines.
The group’s Training and Simulation business was also selected by Boeing Defence UK to deliver a comprehensive networked training capability to the Royal Air Force, based on UK Ministry of Defence’s requirements.
In addition to these contracts, ST Engineering says that it has other contract wins by other business sectors that remain undisclosed due to customer confidentiality reasons.
The group adds that the contracts are not expected to have any material impact on its consolidated net tangible assets per share and earnings per share values for the current financial year.
Shares in ST Engineering closed flat at $4.09 on Thursday prior to the announcement.
