Singapore Technologies Engineering has secured some $4.8 billion in new contracts in the first quarter of the year, with half of the value coming customers in the defence and public security space.
On top of local contracts, the company has a growing momentum of international defence wins, especially in the Middle East.
Besides a $470 million contract multi-year MRO contract for Qatar's army, ST Engineering won a six-year $600 million sub-contract to help build eight missile gun boats for Kuwait. The company also won various international orders for 40mm and 155mm ammunition.
At home, it secured various contracts in Singapore to provide AI-enabled mission critical command and control systems, high performance GPU infrastructure and cybersecurity services.
The company's commercial aerospace segment won some $1.7 billion in new contracts, including MRO and conversion jobs, from customers existing and new, including an American airline, Xiamen Airlines, Hengqin Winglet Aircraft Technology and Asia Pacific Aviation Leasing Group.
ST Engineering's urban solutions and satcom segment, meanwhile, won $0.7 billion in new contracts including rail electronics solutions in Singapore, Taiwan, the Middle East and US.
See also: Serial Achieva wins contract to supply switches; deal worth up to US$18.8 mil
ST Engineering shares closed at $10.75, down 2.45%.
