STEng – BT
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.