Singapore Technologies Engineering (ST Engineering)

Brokers Digest 908

CSE Global

Price targets:
69 cents BUY (DBS Group Research)
73 cents BUY (CGS-CIMB Research)
61 cents BUY (KGI Securities)
69 cents BUY (RHB Group Research)

The best is yet to come for CSE Global, say analysts, as the group garnered four “buy” calls across brokerages DBS Group Research, CGS-CIMB Research, KGI Securities and RHB Group Research.


ST Engineering secures $1.8 bil worth of contracts in 3Q

SINGAPORE (Oct 21): Singapore Technologies Engineering (ST Engineering) says that its Aerospace and Electronics sectors have secured new contracts worth a total of $1.8 billion for 3Q19.

The Aerospace sector secured various contracts amounting to $1.0 billion across its spectrum of aviation manufacturing and services businesses. These include contracts that range from nacelle component and floor panel manufacturing to aircraft airframe and helicopter MRO support services.

SGInnovate partners ST Engineering, Tegasus International to boost cybersecurity capabilities

SINGAPORE (Oct 1): SGInnovate, a government-owned firm nurturing deep tech startups in Singapore, is partnering ST Engineering and cybersecurity company Tegasus International to launch a series of courses to up the city state’s cybersecurity capabilities.

The initiative aims to enhance the cybersecurity expertise of some 2,500 professionals in Singapore over the span of three years.

ST Engineering, Haw Par, Hotel Properties win top spots for second year running

SINGAPORE (Sept 16): Even as international markets and companies are falling prey to rising volatility, Singapore Technologies Engineering is powering through the macroeconomic uncertainties — not unlike one of its new Hunter Armoured Fighting Vehicles.


ST Engineering and Rheinmetall of Leopard tank fame sign cooperation MOU

SINGAPORE (Sept 10): ST Engineering and Germany's Rheinmetall will collaboratively pursue business opportunities for development and sales of defence products, systems and solutions.

In a filing on Tuesday night, ST Engineering says its Land Systems unit and Rheinmetall have signed a Memorandum of Understanding (MOU) to jointly explore areas of cooperation involving complementary capabilities in design, development, production, global marketing, sales and support of defence systems and solutions related to protection systems and combat vehicles.

'Blizzard' strikes North America; Yangzijiang plunges, KrisEnergy seeks bankruptcy protection

SINGAPORE (Aug 19): On Wednesday, US markets plunged on recession fears after the yield on the 10-year US Treasury Note broke below the two-year rate, producing an inverted curve, an indicator of economic recession.

The Dow Jones Industrial Average fell 800.49 points to 25,479.42, a 3.05% plummet that is the worst percentage drop of the year and the fourth largest of all time. The Standard & Poor’s 500 Index and Nasdaq Composite Index also fell 2.93% to 2,840.6 and 3.02% to 7,773.94 respectively.


New acquisition boosts ST Engineering's 2Q earnings to $138 mil as order book hits record high

SINGAPORE (Aug 14): ST Engineering, the technology, defence and engineering conglomerate, powered to earnings of $138.2 million, or 4.43 cents per share, for the 2Q19 ended June, some 18% higher than earnings of $117.5 million a year ago.

The increase was on the back of contribution from the newly-acquired MRA Systems (MRAS) as well as the absence of MTN redemption related costs incurred last year.

This brings earnings for 1H19 up 14% year-on-year to $269.3 million.

ST Engineering wins another $1.5 bil worth of new aerospace, electronics contracts in 2Q

SINGAPORE (July 25): Technology, defence and engineering conglomerate Singapore Technologies Engineering announced Thursday that its Aerospace and Electronics businesses have secured new contracts worth a total of $1.5 billion in 2Q19.

In addition to these new contracts, the group says it has other contract wins by its other business sectors that are not disclosed due to customer confidentiality.

The Aerospace sector received a number of contracts worth around $809 million.

Contract wins, acquisitions lift ST Engineering shares to multi-year high

SINGAPORE (July 5): It has been a busy couple of months for Singapore Technologies Engineering.

The Temasek Holdings-backed defence and engineering group in June inked a partnership agreement with telecommunications equipment manufacturer Nokia to collaborate on key technology areas such as 5G and Internet of Things (IoT).

ST Engineering expands MRO presence to Vietnam with $5.3 mil JVCo

SINGAPORE (June 6): ST Engineering’s Aerospace unit and Vietnam Airlines Engineering Company (VAECO), a subsidiary of Vietnam Airlines, have formed a 49:51 joint venture (JV) entity in Vietnam following a memorandum of understanding (MoU) signed in April last year.

Called Vietnam Singapore Technologies Engineering Aerospace, the JV company was set up with a capital of US$3.9 million ($5.3 million) to provide component maintenance, repair & overhaul (MRO) solutions.

It also establishes ST Engineering’s foray into Vietnam.

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