Singapore Opens 24/7 Maritime Cybersecurity Center
Niam Chiang Meng, Chairman of the Maritime and Port Authority of Singapore (MPA), opened a new 24/7 Maritime Cybersecurity Operations Centre (MSOC) yesterday (May 16). The MSOC will be operated by ST Engineering in its Hub.According to a press release from MPA, MSOC will conduct 24/7 monitoring and correlate data activities across all maritime Critical Information Infrastructure (CII). It will have the capability to (a) detect and monitor cyber-attacks by analysing activities in the IT environment…
Vecchiolla Takes the Helm at VT Systems
ST Engineering announced the appointment of Tom Vecchiolla as President & CEO (Designate) of its US Headquarters, VT Systems. He will take over as President & CEO from General (Ret.) John Coburn on 1 December 2018, who will relinquish his CEO position but remain as non-executive Chairman of VT Systems.Gen. Coburn has been at the helm VT Systems for 17 years since it was set up in 2001 to support the Group’s overseas expansion. Today, the US is the Group’s single largest market outside of Singapore…
ST Engineering Appoints New Director
Singapore Technologies Engineering Ltd (ST Engineering) announced MG Ong Su Kiat Melvyn has been appointed as a non-independent non-executive director of the company with effect from June 8, 2018.MG Ong is currently Chief of Defense Force. He joined the SAF in 1994 and has held a broad range of staff and command appointments in the course of his military career. MG Ong holds a Master of Science, (Science) from the London School of Economics & Political Science, University of London.ST…
ST Engineering Invests In Cyber Security
Singapore Technologies Engineering Ltd (ST Engineering) announced that its Corporate Venture Capital unit, ST Engineering Ventures Pte Ltd (ST Engineering Ventures) has made a Series B investment of $5.79m for a minority interest in Janus Technologies, Inc., an endpoint cyber security provider based in California. “This is the first investment by our Corporate Venture Capital unit in companies with cutting edge technologies or breakthrough innovations,” said Vincent Chong, President & CEO of ST Engineering.
Pew Joins ST Engineering Board
Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of Mr Quek Gim Pew as a non-independent non-executive Director of the Company and Chairman of the Research, Development and Technology Committee with effect from 15 August 2016. Mr Quek Gim Pew, 59, is currently Chief Defence Scientist of Singapore’s Ministry of Defence. Prior to this, he was Chief Executive Officer of DSO National Laboratories (DSO). Mr Quek joined the DSO in 1986 and has held several key appointments before joining the Defence Science & Technology Agency in 2000 for a period of 4 years.
Tham is President, New Enterprises and Ventures of ST Engineering
Singapore Technologies Engineering Ltd (ST Engineering) announced the appointment of Russell Tham as President, New Enterprises and Ventures, effective March 19, 2018. In this newly created position, Russell will drive the expansion of the Group’s business by building new adjacencies for growth through technology and innovation in verticals outside of the Group’s core businesses in the Aerospace, Electronics, Land Systems and Marine sectors. He will report to the President & CEO.
ST Engineering Raises Cap In STET
Singapore Technologies Engineering Ltd (ST Engineering) announced today that ST Education & Training Private Limited (“STET”) has increased its issued and paid up capital from S$1m to S$2m. This increase in paid-up capital is by way of a bonus issue of 1,000,000 ordinary shares of S$1 each. This bonus issue is based on the ratio of one new share for every one existing share by way of capitalisation of the revenue reserve account. STET is 70% owned by ST Electronics (Training & Simulation Systems) Pte.
ST Engineering Y-O-Y Profits Slip
Singapore Technologies Engineering Ltd reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.63b as reported for FY2013. Profit before tax (PBT) of $650.7m was $79m or 11% lower year-on-year compared to $729.7m, and Net Profit of $532.0m was $48.8m or 8% lower year-on-year compared to $580.8m. At the business sector level, revenue for the Aerospace sector was comparable at $2.06b, and PBT was down 11% to $283m from $319.4m reported for FY2013.
Huat Retires as Non-Ex Dir. of ST Engineering
Singapore Technologies Engineering Ltd (ST Engineering) today announced the retirement of Mr Quek Poh Huat as non-executive Director of the Company at its Annual General Meeting on 23 April 2015. Mr Quek has decided not to seek re-election. The Board of Directors wishes to thank Mr Quek for his commitment and invaluable contributions to the Board and the board committees over the past 13 years since 2002. Mr Quek will continue in his position as Chairman of the Group’s subsidiary, Singapore Technologies Kinetics Ltd.
ST Marine Celebrates LMV Sovereignty Launch
Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Launching Ceremony today for the second Littoral Mission Vessel (LMV), Sovereignty, designed and built for the Republic of Singapore Navy (RSN). The Launch Ceremony was officiated by Mr Teo Chee Hean, Deputy Prime Minister and Coordinating Minister for National Security. Initiating the launch of the vessel at ST Marine’s Benoi Yard was DPM Teo’s wife, Mrs Teo Chee Hean.
ST Engineering Injects $66m into VT Systems
Singapore Technologies Engineering Ltd (ST Engineering) today announced that it has injected US$66m (approximately S$89m) into the capital of its US Headquarters, Vision Technologies Systems, Inc. (VT Systems), for the repayment of bank loans. This brings ST Engineering’s total investment in VT Systems to US$343.96m (approximately S$464m). Following the capital injection above, VT Systems has capitalised its outstanding loan balance of US$35.28m (approximately S$47m) and US$33.08m (approximately S$44m) in its subsidiaries, Vision Technologies Kinetics, Inc.
Boon, Non-executive Director of ST Engineering Resigns
Singapore Technologies Engineering Ltd (ST Engineering) today announced the resignation of Mr Quek Tong Boon as non-executive Director with effect from 1 July 2016. Mr Quek has been with the Board since 1 March 2008 and has been the Chairman of its Research, Development and Technology Committee. The Board of Directors would like to acknowledge its deep appreciation to Mr Quek for his invaluable contributions to the Board and the Board Committee he has served. ST Engineering, headquartered in Singapore…
Doo Appointed Chairman of ST Marine
* Mr Lim Ah Doo, an independent non-executive Director of ST Engineering and Director of ST Marine, will succeed Mr Desker as Chairman of ST Marine. Mr Desker, who served as ST Marine Board Chairman since 2000, has guided the Company through different stages of growth, with revenue now standing at about $960m in 2015, compared to about $360m in 2000. “On behalf of the Board of Directors and the Management, I would like to acknowledge Barry’s invaluable contributions to the ST Marine Board. We wish him all the best,” said Mr Kwa Chong Seng, Chairman of ST Engineering.
ST Engineeing Appoints Director
Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of Mr Lim Ah Doo as an independent non-executive Director of the Company and a Member of the Audit Committee with effect from 10 November 2015. Mr Lim, 66, was formerly the President and subsequently the non-executive Vice Chairman of RGE Pte Ltd (formerly known as RGM International Pte Ltd). His past working experience includes an 18-year banking career in Morgan Grenfell from 1977 to 1995, during which he held several key positions including that of Chairman of Morgan Grenfell (Asia) Limited.
ST Engineering Singapore's Sole Ranker in Forbes' List
Singapore Technologies Engineering Ltd (ST Engineering) announced that it is the only company in Singapore to make it to Forbes’ list of The World’s Most Innovative Companies. It is ranked 87 out of 100 companies globally, with an Innovation Premium of 33.6%. “We are honoured to be in this ranking which shows that the market recognises the innovative culture of ST Engineering,” said Mr Tan Pheng Hock, President & CEO of ST Engineering. At ST Engineering, there are several platforms within the Group that foster an innovation culture, and draw out ideas from employees.
ST Engineering Wins $60m Shipbuilding Contracts
Singapore Technologies Engineering Ltd (ST Engineering) reports that its marine arm, ST Marine, has won two shipbuilding contracts worth about $60m from Swire Pacific Offshore Operations (Pte) Ltd (SPO), a wholly owned subsidiary of Swire Pacific Limited. These contracts to build and outfit two Anchor Handling Tug Supply (AHTS) vessels, measuring 92m by 22m, are in addition to the existing shipbuilding contract with SPO, announced in June 2011 for four AHTS vessels. For these contracts, SPO will supply a larger proportion of the major equipment for ST Marine’s integration and installation.
ST Engineering Injects Capital into Leeboy India
Singapore Technologies Engineering Ltd (ST Engineering) announced today that its land systems arm, Singapore Technologies Kinetics Ltd has injected S$4.2m (equivalent to INR200m) into its wholly owned subsidiary, SDG Kinetics Pte Ltd (SDGK), for flowthrough capital injection into LeeBoy India Construction Equipment Private Limited (LeeBoy India) to provide working capital for LeeBoy India’s operations in India. At the same time, SDGK has purchased shares worth INR9.4m (approximately S$0.2m), approximately 1.2% of LeeBoy India’s total share capital, from LeeBoy India’s management staff.
ST Marine Celebrates Naming of RNOV Al Seeb
Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the naming ceremony today for the first Patrol Vessel (PV) built for Royal Navy of Oman (RNO). The Guest-of-Honour was His Excellency Sayyid Badr bin Saud bin Harub Al Busaidi, Minister Responsible for Defence Affairs of the Sultanate of Oman. ST Marine won the contract to design and build four PVs for RNO in 2012. This contract was awarded by the Ministry of Defence of the Sultanate of Oman through a competitive international tender.
ST Engineering Injects Capital in Brazilian Arm
Singapore Technologies Engineering Ltd (ST Engineering) today announced that further to its announcement on 11 July 2014 on the setting up of ST Electronics do Brasil Serviços e Soluções em Sistemas Eletronicôs Ltda (ST Electronics Brazil) in Brazil, it has completed the capital injection of US$2m (about S$2.49m) into its Brazilian subsidiary. ST Electronics Brazil was set up with two shareholders in compliance with Brazilian laws - Singapore Technologies Electronics Limited (ST Electronics) holds 99% stake, while its wholly owned subsidiary, ST Electronics (Satcom & Sensor Systems) Pte.
ST Engineering Rejigs Top Deck
Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of senior management personnel to new key management positions in the Group with a view to further strengthen its leadership team. Mr Lee Fook Sun, currently President of Singapore Technologies Electronics Limited (ST Electronics) and President, Defence Business of ST Engineering, will assume additional responsibilities as Deputy CEO of ST Engineering. In this new position, he will explore additional synergies across the Group's four business sectors.
Valuable Shipbuilding & Repair Contracts Won by ST Engineering
Singapore Technologies Engineering’s Marine Sector wins S$179-million worth of shipbuilding and repair contracts. The contracts include a contract to build two additional Offshore Support Vessels (OSVs) as well as a series of repair and upgrading projects. Hornbeck Offshore Services, LLC (Hornbeck) has exercised the options for two additional OSVs valued at about S$111m (US$89m), to be built by the marine sector’s US shipyard, VT Halter Marine. These two new vessels are expected to be delivered in the fourth quarter of 2014 and first quarter of 2015.
Criminal Proceedings Against Ex-Employee of ST Marine
On 12 September 2011, Singapore Technologies Engineering Ltd announced that the Corrupt Practices Investigation Bureau (“CPIB”) was investigating certain transactions involving former and current employees of Singapore Technologies Marine Ltd (“ST Marine”). ST Marine has been extending its fullest cooperation to the CPIB in its investigation since 2011. We also refer to our announcement on 11 December 2014 in relation to the criminal prosecution of three former employees of ST Marine.
ST Engineering Increase Stakes in Mexican JV
Singapore Technologies Engineering Ltd (ST Engineering) today announced that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has subscribed to a capital call of MXN7.5m (about S$0.7m) from GFM Electronics S.A. de C.V. (GFM Electronics). This additional capital subscription increases ST Electronics’ shareholding in GFM Electronics from 50% to 51%, resulting in GFM Electronics becoming a subsidiary of ST Electronics. Upon completion of the capital injection…
ST Engineering Wins $ 509 mi Contracts in 4Q2014
Singapore Technologies Engineering Ltd (ST Engineering) announced today that its electronics arm, Singapore Technologies Electronics Limited (ST Electronics) has secured about $509m worth of contracts in the fourth quarter of 2014 (4Q2014) for Rail Electronics & Intelligent Transportation, Satellite & Broadband Communications, as well as Advanced Electronics & Information Communications Technologies (ICT) solutions. Rail Electronics & Intelligent Transportation contracts of about $113m were secured from local and overseas customers in Hong Kong, Taiwan, the Middle East and Latin America.
ST Engineering to Build Two Tugs for OSG
ST Engineering announced that its US shipyard VT Halter Marine Inc (VT Halter Marine), has signed a contract with subsidiaries of Overseas Shipholding Group, Inc. (OSG) to build two 8,000 ATB tugs worth over $21m. VT Halter Marine is the U.S. operation of ST Engineering's marine arm, ST Marine. The tugs will be built over 16 months at VT Halter Marine’s Moss Point Marine shipyard with deliveries expected in the second and third quarters of 2011. Measuring 140.4 ft by 38 ft each…
Singapore Navy Patrol Boat Order for ST Engineering
Singapore Technologies Engineering wins Ministry of Defence (MINDEF) contract for the design & build of eight new vessels. The Group’s marine arm, Singapore Technologies Marine Ltd (ST Marine) will build the eight vessels at its Singapore Benoi Yard. Singapore Technologies Electronics Limited (ST Electronics), the Group’s electronics arm, will supply the core combat systems and combat system integration solutions. ST Marine will carry out the platform system integration as the lead system integrator.