ST Engineering's electronics arm secures $351 mil contract wins in 4Q18

ST Engineering's electronics arm secures $351 mil contract wins in 4Q18

By: 
Samantha Chiew
21/01/19, 05:52 pm

SINGAPORE (Jan 21): ST Engineering announced that its electronics arm has secured $351 million worth of contracts in 4Q18, bringing the total amount of contract wins in 2018 to $2.19 billion.

These contracts were for its solutions in mobility, satellite communications, Internet of Things (IoT), and cybersecurity, as well as defence.

The group secured contracts to supply a Passenger Information System for Shanghai Metro Line 14, and Platform Screen Doors for Bangkok’s MRT line.

In Singapore, contracts were secured to supply communications systems for Circle Line Stage 6 and Thomson Line, as well as maintenance works on the Expressway Monitoring and Advisory System.

ST’s electronics sector also joined the global SATis5G Consortium funded by the European Space Agency (ESA), to promote the cost-effective integration of satellite technology into 5G networks.

It also partnered Kymeta to create a seamless, real-time communications hub for first responders at the frontlines that can make a difference between life and death in emergency situations.

The group was also appointed for the Lamppost-as-a-Platform trial in Geylang and one-north business park in Buona Vista with smart, connected lamp posts. This project is a part of the Singapore government’s Smart Nation drive.

It also secured contracts to enable near real-time management of urban water resources and smart street lightning in cities in New Zealand, Canada, Sweden, Israel and the USA.

ST Engineering’s award-winning AgilFence Perimeter Intrusion Detection System, which had been evaluated for US aviation use after completing a rigorous testing process by US-based National Safe Skies Alliance, was selected by SP Group to provide a stronger and robust security infrastructure for 48 of its critical power substations.

The SkyArcher Counter Drone system was also delivered to counter increasing drone threats in Singapore’s airspace.

In addition, it was also awarded contracts for the delivery of cybersecurity products including data diodes and the DiskCrypt M10.

Contracts for defence solutions were won for soldier optics, training and instrumentation systems, as well as Command, Control, Communications and Computers (C4) solutions.

All the above projects will be completed progressively. The contracts are also not expected to have any material impact on the consolidated net tangible assets per share and earnings for the current financial year.

Shares in ST Engineering closed 3 cents lower at $3.66 on Monday.

3 key reasons for UOB's confidence in PropNex despite 1Q earnings miss

SINGAPORE (May 22): UOB Kay Hian is maintaining “buy” on PropNex while lowering its target price to 60 cents from 66 cents previously. The new target price is based on DCF and 2019F P/E of 10 times with reference to its closest listed competitor, APAC Realty, and comes after cutting net profit estimates by 11% to 15% for 2019-21F to reflect a shift in gross profit mix as well as higher staff cost assumptions. UOB’s downwards earnings revision follows the release of PropNex’s 1Q19 results, which fell short of expectations due to lower project marketing contributions as a result of....
Read More >>

6 protesters killed as Indonesia election rally turns violent

SINGAPORE (May 22): At least six people were killed and hundreds more injured in clashes between police and supporters of Indonesian presidential candidate Prabowo Subianto in the worst political violence to hit Jakarta in two decades. Jakarta Governor Anies Baswedan appealed for public order and urged police to exercise restraint and avoid conflict with the protesters in the capital city. About 200 injured protesters have been admitted to various hospitals in Jakarta, Baswedan told reporters. The violence is the worst since to grip the city since the downfall of Suharto in 1998. Protest....
Read More >>

Margins weak for Riverstone but expansion plans on track

SINGAPORE (May 22): With margins under pressure at Riverstone Holdings, analysts say growth recovery would only be seen after 1Q19 given its expansion plans are on track. In 1Q19, Riverstone reported revenue grew 14.6% on the back of a higher annual glove capacity of 9 billion from a year ago. However, net profit declined 2.8% y-o-y to RM30.2 million, which CGS-CIMB deemed slightly disappointing at 21.3%/20.7% of its/consensus’ FY19F forecasts. CGS-CIMB analyst Colin Tan says the decline was mainly due to a drop in ASPs for healthcare gloves and higher taxation as a result of higher....
Read More >>