Analysts from CGS-CIMB, DBS Group Research and OCBC Investment are positive on Singapore Technologies Engineering (ST Engineering) after the group posted better-than-expected order wins for the 3QFY2020.

See: ST Engineering expects FY2020 revenue to be 'close to midpoint' of 5% to 15% lower than year before in business update and ST Engineering unveils new organisational structure

On Nov 18, ST Engineering posted order wins worth $1.7 billion in the 3QFY2020, with some $15.8 billion worth of order backlogs as at end September, which exceeded the group’s pre-Covid-19 average of $1.6 billion in 2018-2019.

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