ST Engineering racks up $100M new contracts in 1Q12

The majority of this contract value came from ST Electronics for satcom systems and rail electronics solutions.

Breaking it down, ST Electronics and its related US company, VT iDirect, has secured $67 million in contracts for satcom systems.

"These were for the provision of network infrastructure and support services, the supply of satellite earth stations, latest range of smallest and lightest Agilis Very Small Aperture Terminal products, satcom solutions as well as hubs and routers," said ST Engineering in a release.

"In addition, VT iDirect will implement satcom hubs and services upgrades for several satcom providers including Australian Satellite Communications Pty Ltd, UAE-based satellite operator, Yahsat, and a global satcom provider, Marlink," it added.

Another high-value deal came from a ST Electronics contract with the Singapore Land Transport Authority for new rail electronics work.

"As part of a consortium comprising ALSTOM Transport S.A. and ALSTOM Transport (S) Pte Ltd, ST Electronics was awarded a contract by Singapore's Land Transport Authority. The consortium will design, supply, test and commission the onboard equipment for the additional 16 trains of the Circle Line for its Mass Rapid Transit, Contract 830B Electrical & Mechanical Systems. ST Electronics' contract is valued at about $27m and the project is expected to be completed by the end of 2015," ST Engineering said.

"These contracts 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." it added.

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