Singapore Technologies Engineering (ST Engineering) announced on 12 January that its electronics arm Singapore Technologies Electronics (ST Electronics) recorded orders valued at S$695 million during the fourth quarter of 2016. The full year gain in orders amounts to $2.33 billion.
As well as orders valued at $71 million for rail electronics and intelligent transportation and $95 million for satellite and broadband communications, the bulk of the new orders ($529 million) came from the advanced electronics and ICT sector. Among these are contracts for intelligent security management systems, operational and maintenance support, communications network improvements, portable radios and engineering services for government agencies and private sector customers. These contracts will run till various completion dates by 2023.
“Against the backdrop of a volatile market, 2016 has been a good year in terms of new orders secured….. With our continued focus on delivering value to our customers, strengthening our core technologies and leading forays into new technological frontiers, we are well positioned for growth opportunities in 2017,” said ST Electronics’ President, Ravinder Singh.