SINGAPORE (May 15): The impact of the Covid-19 global pandemic has led ST Engineering to suffer a reduction in customer demand, supply chain disruption, and workforce disruption.

As such, the company is expecting a 5-15% slide in its FY2020 revenue compared to its FY2019 revenue, it said in its 1Q market update on Friday.

In the same quarter, ST Engineering announced a combined value of $1.6 billion worth of new contracts in the aerospace and electronics sector. $838 million was from the aerospace sector, while $730 million came from the electronics sector.

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