Smart City

Advance SCT to buy 40% stake in M&E firm for $3.5 mil in pursuit of smart city ambitions

SINGAPORE (Jan 29): Advance SCT has entered into a conditional sale and purchase agreement to acquire 40% stake in N&T Engineering Enterprises for up to $3.5 million.

The purchase price will be fully satisfied via the issuance of new shares at 0.1 cent each.

The initial $2.8 million will be paid upon completion of the deal, while the remaining $0.7 million is to be paid when N&T Group – comprising N&T and newly-incorporated N&T Smart Engineering – achieves net profit after tax of at least $1.2 million for the full year ending Feb 28, 2019.

Keppel to develop smart IoT city in Wuxi with China's Envision Group

SINGAPORE (Dec 6): Keppel Urban Solutions, a wholly-owned subsidiary of Keppel Corp, has signed a memorandum of understanding (MoU) with Envision Group and Wuxi’s government to develop a “smart internet of things (IoT) City” in Xuelang Town, Taihu New City, Wuxi, China.

Adopting a city-industry integration model, Keppel and Envision plan to create a scalable and replicable model with a view to leading the development of the IoT industry and smart city transformation in China and other parts of the world.

ST Engineering eyes more than doubling of Smart City revenue to $2 bil by 2022

SINGAPORE (July 5): ST Engineering aims to grow its Smart City revenue of $1 billion to more than double by 2022.

The group also plans to grow its core and other business segments with CAGR of 2-3x global GDP growth rate over the next five years, and expects that two-thirds of its revenue growth will be from global markets by 2022.

ST Engineering’s strong order book of $13.4 billion as at end March, providing stability and visibility. Out of this, $3.2 billion is expected to be delivered in the remaining months of April to Dec.

ST Engineering, SP Group launch trial for Singapore's first pay-per-use IoT-as-a-Service platform

SINGAPORE (June 25): Organisations seeking to adopt Internet of Things (IoT) technologies to provide smart city applications such as public safety and security systems could soon get a boost.

ST Engineering Electronics and SP Group, together with their joint venture company Singapore Power Telecom (SP Telecom), today announced they are jointly pursuing a new trial for a pay-per-use IoT-as-a-Service (IoT-aaS) platform.

What to expect of Singapore’s budget & economic strategy in 2017

SINGAPORE (Feb 6): DBS Group Research is expecting this year’s impending Committee on the Future Economy (CFE)  report to “map out the longer-term future of the economy”, while projecting Budget FY17 to feature more “bite” for the near- to medium-term.

Singapore IoT market to be worth more than $700 million in 2020, says Nokia

Nokia

SINGAPORE (June 16): The Internet of Things (IoT) market in Singapore is seen to be worth €507 million ($772 million) come 2020.

And nearly half of that, or 45%, will come from businesses that link up their equipment with processes and people. This according to a study by Machina Research and Nokia.

The next biggest segments will be mobility (20%) and followed by Smart City (10%) and retail and services (9%).

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