ST Engineering secures S$1.6 billion worth of new contracts for first-quarter 2020

Singapore Technologies Engineering (ST Engineering) has secured new contracts worth about SG$1.6 billion, secured by its Aerospace and Electronics sectors in the first quarter of 2020. These contracts are over and above a defense contract that its Land Systems arm secured.

The group’s aerospace sector secured about SG$838 million across its spectrum of aviation manufacturing and MRO businesses. The MRO contracts included A320 heavy maintenance contracts and CFM56-7B engine maintenance contracts from Chinese airlines, and a component Maintenance-By-the-Hour (MBH) contract from a Southeast Asian airline to provide comprehensive component maintenance services for its entire fleet of Boeing 737 and Bombardier Q400 aircraft. These first-quarter contracts comprise those previously announced in February during Singapore Airshow 2020, namely: multi-year engine and component MRO contracts from a South Korean airline; a five-year nacelle maintenance contract and a three-year airframe heavy maintenance contract.

The group’s electronics sector secured about SG$730 million worth of contracts for products and solutions in smart mobility, cybersecurity and data analytics, as well as training and simulation. (US$1.00 = SG$1.43 at time of publication.)

Email Post to a Friend Email Post to a Friend