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Singapore, 6 April 2005 — Singapore Technologies Electronics Limited (ST Electronics), the electronics arm of Singapore Technologies Engineering (ST Engineering), has signed an additional agreement to supply up to 500,000 units of the Multichannel Multipoint Distribution System (MMDS) access control downconverters to MVS Multivision S.A. de CV (MVS) for an estimated value of US$20million through GFM Electronics S.A. de C.V. (GFM Electronics). This is supplemental to the agreement signed in June 2002. The units are expected to be delivered over a four-year period.
This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.
This agreement is part of an on-going contract awarded to ST Electronics in June 2002 for the supply of MMDS products to the Mexican and Latin American market through GFM Electronics. To date, orders for MMDS total $55m and total sales of the MMDS products have reached approximately 750,000 units.
ST Electronics is targeting the Latin American market with this product as it provides cable-quality television transmission to homes in almost all types of geographical areas, including remote areas where - the building of communication infrastructure is difficult, costly and complex.
MMDS is a system for wireless broadband communication that allows service providers to deliver services to homes of individual users over the rooftop antennas mounted with the range of powerful transmission towers.
About MVS
MVS is one of the largest wireless television network in Mexico. MVS was Mexico’s
first MMDS operator and produces television programming. It launched its MMDS
service in Mexico City in September 1989 and is now one of the largest MMDS
system operators in the world serving the Mexico City, Guadalajara, Monterrey,
Leon, Tuxtla Gutierrez, Villahermosa, and Merida areas. MVS’ parent company,
MVS Comunicaciones, is a diverse communications company with operations in
the area of radio broadcasting, pay television and Internet services.
About GFM Electronics
GFM Electronics is the joint venture set up in Mexico in May 2000, and is owned
equally by ST Electronics and Grupo Ferrominero, S.A. de C.V. (of Monterrey,
Mexico). GFM Electronics markets and distributes ST Electronics system-based
and electronic, high-tech products and services in Mexico and Latin America.
ST Electronics delivers innovative system solutions to defence, commercial and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband RF & microwave communication, rail & traffic management, real-time command & control, training & simulation, intelligent building management, and information security and m-commerce solutions. ST Electronics applies leading edge technologies and design methodologies to meet the stringent requirements of customised electronics systems and solutions. It undertakes continuing research and development to help create cost-effective proprietary products at system and component levels providing quality solutions to customers. Please visit www.stee.stengg.com
ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of S$2.95 billion in FY2004. Its market capitalisation of about S$7 billion ranks it among the largest companies listed on the Singapore Exchange. ST Engineering has 12,000 employees worldwide, and over 100 subsidiaries and associated companies in 15 countries and 22 cities. Please visit www.stengg.com.
Media Contact:
Lim Beng See
VP / Head, Corporate Communications
Singapore Technologies Engineering Ltd
Tel: (65) 6722-1883
Fax: (65) 6720-2293
Email: limbs@stengg.com
Magdalen Loh
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 6413-1788
Fax: (65) 6484-8840
Email: magloh@stee.stengg.com
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