ST Engineering's electronics unit wins $513 million worth of contracts in Q3

SINGAPORE - A unit of Singapore Technologies Engineering, ST Electronics, has won new contracts worth $513 million in the third quarter.

The bulk of the contract wins worth $295 million is for it to provide advanced electronics and info-comms technology solutions, where it will help to build security systems in Singapore and around the region.

The unit also secured rail deals amounting to $101 million for communication, signalling installation and other maintenance works in Singapore, Malaysia, China and India.

It also scored satellite communications contracts worth $117 million.

ST Engineering said the contract are not expected to have any material impact on its net tangible assets per share and earnings per share for the current financial year.