No staffer assisting probe, says ST Engg

It’s also not aware of any ex-employee helping CPIB probe

ST Engineering has denied that any of its unit’s employees are assisting with Corrupt Practices Investigation Bureau (CPIB) investigations being carried out on the former chiefs of the Singapore Civil Defence Force (SCDF) and Central Narcotics Bureau (CNB).

In a statement issued yesterday as a clarification to The New Paper’s (TNP) report, the group said: ‘We wish to clarify that none of ST Electronics’ executives has been called up by the CPIB to assist with investigation referred to in The New Paper’s report.’

TNP had reported yesterday that it ‘understands that an ST Electronics executive is assisting with CPIB’s investigation’.

ST Electronics is the electronics arm of ST Engineering and had been awarded a $34 million deal by the SCDF for a command-and- control system in 2009.

Asked whether any of its former employees are assisting in the investigations, ST Engineering said that it was not aware of any ex-employees being investigated.

On whether any of the deals involving ST Engineering was a matter of interest for the investigations, a spokesman said, ‘We have no privy information as to which project or projects are investigated by the CPIB.’

Previous media reports have mentioned a female executive working for a supplier of IT products and services as the link between the two men being investigated.

Former SCDF chief Peter Lim Sin Pang was arrested on Jan 4 while his counterpart Ng Boon Gay – formerly director of the CNB – was arrested on Dec 19 last year.

Both – currently out on bail – were arrested under the Prevention of Corruption Act following allegations of ’serious personal misconduct’ and have since been replaced at their respective agencies.

In a statement on Wednesday night, Head of Civil Service Peter Ong said: ‘I am sure the news of the investigations must have come as a shock to my fellow public officers.

‘I would urge them to remain steadfast in their duties and committed to the core values of the Public Service which are integrity, service, and excellence, and not let this affect our commitment to serve Singapore and Singaporeans.’

Results Announcement

• 10 Jan 12 : SPH (Q112) – EPS 6ct
  
• 16 Jan 12 : M1 (Q411) – EPS 4.1ct (todate 18.1ct) ; Div 7.9ct (todate 14.5ct)
  
• 31 Jan 12 : SMRT (Q312)
  
• 7 Feb 12 : SATS (Q312)
  

STI = 2916.26 (+21.83)

Transport

TELCO

Funds / Infrastructure

* SPAus DPU in A$. Yield is Calculated Using Latest Exchange Rate (1.3375) fm Yahoo

NOTES :

• Mkt Price is as on 27-Jan-12
  
• M1 : 2H11 (Dec) – Final 7.9ct ; 1H11 (Jun) – Interim 6.6ct
  
• SATSvcs : Q212 (Sep11) – Interim 5ct
  
• SingTel : 1H12 (Sep11) – Interim 6.8ct
  
• StarHub : Q311 (Sep) – 5ct ; Q211 (Jun) – 5ct ; Q111 (Mar) – 5ct
  
• SMRT : Q212 (Sep11) – Interim 1.75ct
  
• SingPost : Q212 (Sep11) – 1.25ct ; Q112 (Jun11) – 1.25ct
  
• SPH : 2H11 (Aug) – 9ct (Final) + 8ct (Special) ; 1H11 (Feb) – 7ct
  
• ComfortDelgro : Q211 (Jun) – 2.7ct
  
• SBSTransit : Q211 (Jun) – 3.1ct
  
• MIIF : 1H11 (Jun) – 2.75ct ; 2H10 (Dec) – 1.5ct
  
• ST Engg : 1H11 (Jun) – 3ct
  
• SPAus : 2H11 (Mar11) – A4ct (before tax) / A3.7721ct (after tax) ; 1H11 (Sep10) – A4ct (before tax) / A3.7772ct (after tax)
  
• StarHub : FY11 Div Guidance – 5ct/Q
  

SPH to press mall business advantage

SINGAPORE Press Holdings (SPH) is hoping to cement its track record of owning Paragon and The Clementi Mall and establish a foothold in the retail mall sector in the long term.

‘We aim to build on the track record of our property portfolio and establish our presence in the retail mall sector,’ said SPH CEO Alan Chan. ‘This complements our wide spectrum of media and other businesses, and helps to boost the group’s total returns.’

The media group, which won a bid for a commercial site in Sengkang yesterday, said that it would continue to explore ways to enhance its property portfolio when opportunities arose. Apart from owning Paragon and a 60 per cent stake in The Clementi Mall, SPH is also the developer of luxury condominium Sky@eleven at Thomson Road.

For the newly won site that sits at the junction of Sengkang West Avenue and Fernvale Road, the group intends to create a commercial development catering to the lifestyles and needs of residents living in Sengkang and the north-eastern regions of Hougang, Punggol and Serangoon.

‘The immediate catchment area, which comprises Sengkang and parts of Hougang, Serangoon, Ang Mo Kio and Punggol, has a good demographic profile,’ a spokesman for the group said. ‘The majority of the residents are in the economically active age groups and the majority of households are within the middle-income level of $5,000 and above.

‘Moreover, there is potential to increase the catchment size as Sengkang is fast being built-up and increasingly being populated.’

The tender for the site was won by Earth Holdings Pte Ltd with a bid of $328 million, or $1,155.52 per square foot per plot ratio (psf ppr). It has a lease of 99 years and can be developed to a maximum gross floor area of 283,856 sq ft.

Earth Holdings is a 70-30 joint venture between wholly owned units of SPH and United Engineers.

The site acquisition will be funded through a combination of internal resources and external borrowings.

ST Engineering adds $350m to order book

SINGAPORE Technologies Engineering clinched $350 million of contracts in the last quarter of 2011, including a light-rail communications project in a third Taiwan city, the company said yesterday.

The contracts are not expected to have any material impact on net tangible assets per share and earnings per share for the current financial year, the diversified engineering group said.

ST Engineering’s electronics and information technology arm, ST Electronics, received a contract to design and install a communications system for the Taichung City light-rail transit Wuri-Wenxin Beitun line. Work will begin in the first quarter of 2012 with completion targeted by 2017.

ST Electronics had previously secured communications contracts for mass rapid transit systems in Taipei and Kaohsiung.

ST Electronics and ST Marine were also tapped to upgrade landing ship tanks for the Singapore Navy.

ST Marine has also been contracted to upgrade the heating, ventilation and air-conditioning system and accommodation piping system for pipe-laying vessel Castoro 8. Delivery of the vessel is expected in the second quarter of 2012.

ST Engineering reported an order book of $11 billion at the end of September 2011, and is forecasting revenue and profit before tax for 2011 comparable to 2010.

Mainboard-listed shares of ST Engineering closed at $2.84 yesterday, up one cent or 0.35 per cent.