ST Electronics Secures S$151m Of Rail Electronics, Satellite Communications And Smart Utility Contracts In Q1-2013
Singapore, 13 April 2013 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about S$151m worth of contracts for rail electronics, satellite communications (satcom) and smart utility projects in the first quarter of 2013 (1Q2013).
Rail Electronics & Intelligent Transportation
ST Electronics continued to strengthen its position in the rail electronics market by winning contracts worth about S$65m in 1Q2013 for mass rapid transit (MRT) projects in Malaysia, Taiwan and North America. This S$65m includes the S$31m contract from the MRT Corporation Sdn Bhd (MRT Corp) for Platform Screen Doors Systems for the Sungai Buloh – Kajang MRT Line in Kuala Lumpur, Malaysia (announced on 6 February 2013). The other contract details are as follows:
- In Malaysia, the company won two additional rail electronics contracts, bolstering its recent entry into the Malaysian rail electronics market. It received a contract from Benima Engineering Snd Bhd to implement a Maintenance System for the Keretapi Tanah Melayu Berhad’s Seremban Depot; and another contract from Hartasuma Sdn Bhd to implement a Passenger Information System for the Kelana Jaya Line. Work on these projects has begun and is expected to be completed in August 2013 and July 2014 respectively.
- In Taiwan, Marubeni Corporation awarded ST Electronics contracts for additional scope on its existing rail electronics projects in Taipei. These include an Airport Access MRT System as well as an On-Train Information Display System for the Taoyuan International Airport MRT Line, and electrical & mechanical engineering solutions for the Xinyi-Songshan Line. Work has started on these projects and is expected to be completed by August 2013 and March 2015 respectively.
- For the US market, ST Electronics was awarded a contract by Bombardier Transportation North America (BTNA) in January 2013 to provide a fully digital trainborne Passenger Information System. This will be delivered with the train carriages from BTNA for use by the San Francisco’s Bay Area Rapid Transit (BART) in the US. Designated by BART as its “Fleet of the Future”, the new cars will be used to replace its entire existing fleet as well as for system expansion. The scope includes communication, signs, flashing maps and multimedia and a Video Surveillance System. ST Electronics is developing, producing and providing warranty support. Work has started on the project and delivery is expected to be completed by 2020.
In Singapore, ST Electronics is to update, test and commission for the Land Transport Authority, the Maintenance Management System for the North-East Line. Work on the project has started and is expected to be completed by June 2016.
Satellite Communications (Satcom) & Sensors
ST Electronics’ satcom and sensor business secured contracts worth about S$78m in the first quarter for the supply of satcom systems to customers worldwide. These contracts are for the supply of products and network infrastructure including Agilis Very Small Aperture Terminal (VSAT) and earth station equipment, iDirect satellite hubs and routers for e-Government, cellular backhaul and maritime VSAT solutions. The successful launches of new High-Throughput Satellites (HTS) by satellite operators significantly increase the bandwidth capacity of satcom. This has given rise to improved speeds at lower service costs, accelerating satcom adoption on a broader scale by many industries.
Extending its market reach in the area of smart utilities solutions, ST Electronics won contracts worth about S$8m to implement and support a Customer Information System and an Advanced Metering Infrastructure solution.
“ST Electronics began the year on a promising note with further wins for our rail electronics solutions in Malaysia. Working together with our partners, we are also breaking into the North American market. Our strengths in providing safe and reliable rail electronics solutions has enabled us to continue building on our track record as we continue to deliver value to our customers in the industry. As cities grow, the market for effective communications and smart utilities is expanding and we are focusing on these opportunities.” ~ LEE Fook Sun, President, ST Electronics
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.
ST Electronics (Singapore Technologies Electronics Limited), the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. With a presence in more than 20 countries, ST Electronics markets its solutions to more than 100 countries internationally. It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command and control, modelling and simulation, interactive digital media, intelligent building management and information security. Please visit www.stee.stengg.com.
ST Engineering (Singapore Technologies Engineering Ltd) is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenue of $6.38b in FY2012 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of the FTSE Straits Times Index, FTSE ASEAN 40 Index, MSCI Singapore and other indices. ST Engineering has more than 22,000 employees worldwide, and over 100 subsidiaries and associated companies in 23 countries and 41 cities.www.stengg.com.
Lina Poa, SVP, Corporate Communications
Tel: (65) 6722 1883 / 9696 5453
Magdalen Loh. AVP/Head, Corporate Communications
Tel: (65) 6413 1788 / 9822 3321