Singapore Technologies Engineering Ltd announced on Nov, 12 2025 that it has recognised a non-cash impairment charge of 667 million Singapore dollars on its iDirect group after assessing the unit’s Value in Use at 170 million Singapore dollars as of Sep, 30 2025.

The write-down follows a weaker operating environment characterised by the rapid expansion of Non-geostationary Satellite Orbit operators, slower-than-expected customer adoption of iDirect’s Intuition platform, continued declines in revenue and EBITDA, and a deteriorating near-term business outlook.

The impairment will be partially offset by recent divestment gains of 258 million Singapore dollars, which generated total cash proceeds of about 594 million Singapore dollars.

ST Engineering said it is evaluating strategic options for the iDirect group to mitigate risks and strengthen the unit’s ability to support customers. Discussions are ongoing, but no definitive agreement has been reached.

Despite the impairment, the group expects to report a positive net profit for full-year 2025 and will provide an update on the impact to its second-half results in due course.