ST Engineering secures new contracts worth $4.3b in Q4 2024

Its Commercial Aerospace segment clinched several new contracts worth about $1.8b.

Singapore Technologies Engineering (ST Engineering) has secured about $4.3b worth of new contracts in the fourth quarter of 2024 from its Commercial Aerospace, Defence and Public Security, and Urban Solutions and Satcom segments.

Commercial Aerospace clinched several new contracts worth about $1.8b across its Maintenance, Repair & Overhaul (MRO) and Aerostructures & Systems (A&S) sub-segments.

New MRO contracts included a 15-year exclusive contract with Akasa Air to support its LEAP-1B engines in their first Performance Restoration Shop Visit (PRSV) and a contract with an Asian airline for CFM56-7B engine heavy shop visits.

Other MRO contracts included a six-year airframe heavy maintenance contract to support a US-based airline’s Boeing 787 fleet and an exclusive five-year LEAP-1A nacelle MRO agreement with a European airline.

Moreover, Defence and Public Security acquired about $1.7b worth of new orders including a contract with Kazakhstan Paramount Engineering for a new 8x8 amphibious multi-purpose armoured vehicle.

The contract marked its entry into a new market in Central Asia. In addition, the Land Systems business received orders for 155mm ammunition from international customers.

Its cyber business also secured new contracts for its cyber solutions and cloud-based managed security services for an ASEAN customer. Meanwhile, its marine business will design and build a Walk-to-Work vessel for a leading oil and gas company.

Further, its Urban Solutions and Satcom won contracts worth about $0.7cb such as the provision of smart metro solutions for the Blue and Orange Lines in Bangkok, the Red Line Extension in Kaohsiung, and the North-South and East-West Lines in Singapore.