ST Engineering net profit up 15% to $296.1m

The company secured $3.37b worth of new contracts for the first half of 2021.

Singapore Technologies Engineering (ST Engineering) reported a net profit of $295.1m for the first half of 2021, 15% higher than the same period last year.

This was driven by the better operating performance of its Urban Solutions and Satcom and Defence and Public Security segments, which offset the losses from its Commercial Aerospace segment.

“We delivered a good set of results for the first half of 2021 amidst a challenging operating environment. We had also secured contract wins across our businesses that led to a robust order book, which continues to provide revenue visibility in the periods ahead,” said Group President and CEO Vincent Chong in a bourse disclosure.

In the second quarter of 2021, ST Engineering secured $1.82b of new contracts: $874m for commercial aerospace, $284m for urban solutions and Satcom, and $660m for Defence and Public Security. This is in addition to the $1.55b announced for the first quarter.

Follow the link for more news on

ST Engineering

Financial Statements

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

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