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ST Electronics nabs $464m worth of contracts in Q1
The bulk of the projects is for ICT solutions.
Singapore Technologies Engineering revealed that its electronics arm has amassed contracts with a total deal value of $464m in the first quarter of the year.
ST Engineering secured about $318m worth of Advanced Electronics & ICT contracts, including for Integrated Security Management System, the enhancement of communications and network systems, delivery of Advanced Meter Readers, as well as customised training solutions. These projects will be completed progressively till 2023.
It won a consultancy contract for the design of Sri Lanka’s National Cyber Security Operations Centre, to enhance Sri Lanka’s digital infrastructure and counter cyber threats. In March, ST Electronics signed a Memorandum of Understanding with the Headquarters Signals and Command Systems, which includes the Singapore Armed Forces (SAF) training institute for cyber defence, and Nanyang Polytechnic to strengthen the SAF’s cyber defence training.
These are part of ST Electronics’ ongoing efforts to deepen and widen the professional capabilities required by the industry to secure and protect digital assets.
Meanwhile, it closed deals of about $67m for rail electronics and intelligent transportation. These include the supply of the Passenger Information System to CRRC Qingdao Sifang for 400 of Chicago's 7000 Series rail cars; delivery of Passenger Information Display System for a train retrofit, as well as enhancement and system integration services for Taipei Rapid Transit Corporation.
Other projects in this business sector include enhancement and maintenance services for Intelligent Transport Systems as well as Fleet Management Systems. These projects will be completed progressively till 2022.
ST Engineering also managed to secure $79m worth of contracts for satellite and broadband communications. Deals were from government, telecom and enterprise users worldwide for the supply of broadband network, satellite network equipment and earth stations. These projects will be completed progressively over the next three years.
On the space front, ST Electronics has steadily advanced its foray into the global market, forming major collaborations with local and overseas governments. In the past quarter, the company announced the development of TeLEOS-2, the next Generation Earth Observation Satellite in partnership with Defence Science & Technology Agency to support the satellite imagery needs of Singapore government agencies.
In addition, a partnership was inked with Collecte Localisation Satellites, a subsidiary of the French Space Agency to Expand Value-Added Services for Maritime Security by leveraging ST Electronics' commercial satellite imagery capabilities provided by TeLEOS-1, Singapore's first commercial Near-Equatorial Orbit earth observation satellite.
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