ST Engineering posts record $18.7 billion in contract wins for FY2025
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ST Engineering's full-year tally was lifted by about $4.7 billion in new contracts secured during the fourth quarter.
PHOTO: BT FILE
SINGAPORE – Singapore Technologies Engineering’s (ST Engineering) total contract awards for 2025 reached a record $18.7 billion, exceeding the $12.6 billion total in 2024 by 49 per cent, the group announced on Jan 28.
The full-year tally was lifted by about $4.7 billion in new contracts secured during the fourth quarter.
The contract wins were distributed across the group’s three main business clusters.
The defence and public security segment accounted for the largest share of the quarterly wins at $2.5 billion.
Land systems: The division was awarded a contract by Singapore’s Ministry of Defence to produce next-generation infantry fighting vehicles. It also received international orders for 40mm and 120mm ammunition.
Digital systems: The Home Team Science and Technology Agency contracted the group to develop an enterprise integrated security system for the Singapore Prison Service. Other contracts included cloud infrastructure services and training systems.
Cyber: The business secured contracts for cybersecurity systems and secure data transfer products for local partners.
The commercial aerospace segment secured $1.7 billion in new contracts.
Maintenance, repair and overhaul: Agreements included a five-year nacelle maintenance contract for LOT Polish Airlines’ Boeing 787 fleet and a similar contract for another European airline. The group also signed a multi-year airframe maintenance agreement with a North American airline.
Aerostructures and systems: The group reported orders for engine nacelles and composite floor panels, citing increased new aircraft production.
The urban solutions and satcom segment recorded about $500 million in contracts.
Urban solutions: The group will supply 250 electric buses to the Singapore Land Transport Authority and provide rail electronics for the Changi Airport Terminal 2 Skytrain. It also secured a contract for an access management system for the Johor Bahru-Singapore Rapid Transit System.
Satcom: Wins included ground segment infrastructure contracts from government customers in Asia and Europe.
ST Engineering said these contracts are not expected to have a material impact on the group’s consolidated net tangible assets or earnings per share for the current financial year.
Shares of ST Engineering rose nine cents, or 1 per cent, to $9.53 as at 9.15am on Jan 28, following news of the contract wins. THE BUSINESS TIMES
