Singapore Technologies Engineering (ST Engineering) has secured $4.4 billion worth of new contracts in the first quarter of 2025.
Of the total amount, $1.3 billion worth of contracts were from the group's commercial aerospace segment and secured across its maintenance, repair & overhaul (MRO) and aerostructures & systems (A&S) sub-segments. The new MRO contracts comprised component contracts that include a three-year Boeing 787 reconditioning and exchange service agreement with an Asian airline.
The segment also secured several multi-year LEAP-1A engine maintenance contracts with airlines in the Middle East and Asia. T
Under its A&S sub-segment, the group saw orders for engine nacelles and composite floor panels, underpinned by increasing new aircraft production.
About $2.7 billion worth of the new contracts were from the defence & public security segment. The segment's digital systems business scored a contract worth $200 million from the Home Team Science & Technology Agency (HTX) for the integration and installation of an islandwide public camera system that enables real-time sense-making and faster response to incidents. The group also secured new orders for its cyber solutions and advanced encryption products, the provision of cloud-based managed security services as well as an artificial intelligence (AI)-enabled operational technology (OT) cybersecurity system for critical infrastructure for the energy sector.
Finally, ST Engineering secured contracts worth $0.5 billion from the urban solutions & satcom segment. These include smart mobility contracts to provide rail electronics solutions for the Cross Island Line, mobile network upgrades for the Downtown Line and managed services for several car parks in Singapore.
The group's tolling business also received new contracts for electronic road tolling, maintenance and back office solutions.
At the same time, ST Engineering's smart utilities and infrastructure business won contracts to implement integrated smart security management solutions for public sector customers in Singapore. The group's satcom business received ground infrastructure contracts for the aviation, maritime, government and defence segments in various regions.
Shares in ST Engineering closed 9 cents lower or 1.23% down at $7.23 on April 25.
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