As at February 29, Temasek and its subsidiaries own a combined 51.68% stake in ST Engineering. Temasek last increased its stake in 2014, when its wholly-owned unit Vestal Investments bought 3.4 million shares in ST Engineering for about $11.8 million.
Singapore Technologies Engineering (ST Engineering) is having a strong year, announcing multiple contract wins, buybacks and collaborations. Its new data centre will also support energy-intensive AI workloads. With heightened maintenance, repair and overhaul (MRO) demand expected over the next few years, the company is poised for continued share price outperformance.
The stock has risen over 20.3% over the past 12 months, closing at $4.27 on July 16. Following the release of its 1QFY2024 ended March results, the counter broke its 50-month high when it closed at $4.20 on May 14.
