ST Aerospace wins $350m worth of deals in last quarter of 2011

SINGAPORE Technologies Aerospace, the aerospace arm of Singapore Technologies Electronics, finished 2011 on a high, bagging $350 million worth of contracts in the last quarter of the year.

ST Engineering said yesterday that the contracts will be carried out at its network of facilities and affiliates in the Americas, Asia Pacific and Europe.

However, they are not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

Between last October and December, the aircraft maintenance and modification business group secured new airframe contracts involving base maintenance, heavy maintenance, passenger-to-freighter (PTF) conversion and interior refurbishment on various commercial and military aircraft platforms.

New component contracts were secured by its component total support business group, which includes Maintenance-By-the-Hour (MBHTM), repair management, avionics and mechanical component maintenance, aerostructures and thrust reverser repair, and landing gear repair and overhaul.

The engine total support business group clinched new engine maintenance contracts. In addition, its leasing joint venture was awarded a contract from Lion Air for the lease of three CFM56-7B engines over 10 years.

ST Aerospace redelivered 101 aircraft for airframe-related maintenance and modification work, five Boeing 757-200 converted freighters to FedEx Express, and serviced 72 engines and 13,382 components for both commercial and military customers.

In October, ST Aerospace’s US$78 million engine maintenance, repair and overhaul (MRO) facility in Xiamen commenced operations, providing MRO and total support for the CFM56-7B and CFM56-5B series of engines.

In addition, the aerospace arm was certified as a Part 147 Maintenance Training Organisation by the Civil Aviation Authority of Singapore and European Aviation Safety Agency, to provide aircraft type training for narrow-body and wide-body aircraft.

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.’