ST Electronics wins $580m in contracts during Q2

SINGAPORE - The electronics arm of Singapore Technologies Engineering (ST Engineering) won about $580 million worth of contracts in the second quarter of this year, the company said on Wednesday.

The contracts clinched by ST Electronics relate to rail electronics and intelligent transportation, satellite and broadband communications, and advanced electronics and information Communications Technologies (ICT) solutions.

Intelligent transportation accounted for about $272 million in contracts, including rail electronics and traffic management projects both locally and overseas.

Work on these projects has started and will be completed over the next five to nine years.

ST Electronics also delivered on $93 million in contracts over this period for its satcom networks and Very Small Aperture Terminals, the company said.

Advanced electronics and ICT solutions accounted for another $211 million in contracts. These were for projects including facility management and operations and support services for public and private sector companies.

Work on these projects has also begun and they are expected to be completed over the next five to 10 years.