ST Engineering eyes doubling smart city revenue to $1b by 2022

Its Newtec buy could give the business segment a boost.

ST Engineering’s smart city initiatives are expected to drive its growth in the long term as it aims to more than double its yearly revenues in the market to about $1b by 2022 from 2017, DBS Group Research reported.

In addition, its plans to buy Belgian satcom firm Newtec could position the firm better in the smart city market.

DBS estimated the projects within the Smart Nation framework to add up to over $1b in the near future, as the government pushes for smart technology usage across utility, healthcare, housing and transport spaces.

However, the firm could face pressure on its margins in the short term as it is expected to expand its network and presence in growth areas including smart city solutions, as well as boost its investments in research and development. Still, its sizeable orderbook of $15.9b and plans to acquire businesses can help mitigate this challenge.

Continued initiatives by its Aerospace segment, including the acquisition of nacelle systems provider MRA Systems, partnership with Airbus for passenger-to-freighter conversion of its jets, and expansion of its businesses, is also expected to propel its growth.

ST Engineering’s net profit rose 3.4% YoY to $139.14m in Q3, attributed to contributions from the Aerospace sector and others, whilst revenue jumped 27.2% to $2.07b over the same period.

If you've been wondering whether SBR could work for your company — yes, probably.

A lot of the companies we partner with started as readers. They'd been following our coverage for a while, saw their own customers and competitors in it, and eventually asked the obvious question: could we do something with you? The answer is usually yes. The shape of it depends on what you're trying to do.

The options are broader than most people assume — thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. Some partners use one channel; most use a mix. We figure out the right combination by starting with your brief, not with our rate card.

So if the question has been on your mind, here's the easy way to ask it.

We'll tell you honestly whether we can help, and how. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia