Latest News

May 2007

ST Engineering’s Electronics Arm Wins $123m MRT Project In Turkey

Contract paves way for ST Electronics' rail solutions in European market

Singapore, 9 May 2007 — Singapore Technologies Engineering’s electronics arm, Singapore Technologies Electronics Limited (ST Electronics), today announced that it has won a contract worth approximately $123m from Marubeni Corporation to offer turnkey integrated solutions for a commuter rail project in Istanbul, Turkey.

This contract award 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.

ST Electronics will design, supply, install and commission the Telecommunications, Supervisory Control and Data Acquisition (SCADA) and Automatic Fare Collection systems for the Marmaray Commuter Rail CR1 project in Istanbul. The opening of the line for passenger service is planned for 2011.  The 76.3km long line with 41 stations will link Halkali, on the European side, to the suburb of Gebze, on the Asian side.  It will connect with the Istanbul urban metro and light rail networks.  ST Electronics will begin work on the project in the second quarter of 2007.

ST Electronics has pursued the European and Middle-Eastern markets for growth over the last three years and this contract is a first in electronics rail solution for us in Europe and represents a significant achievement for us in this region. Besides providing us with a strong foothold in Turkey, it will also position us effectively for securing potential rail electronics system projects in Europe.

SEAH Moon Ming
President, ST Electronics

ST Electronics’ expertise and experience in offering turnkey integrated transportation solutions for both rail and traffic management users have successfully been deployed in a number of markets here and overseas.  Its rail solutions are deployed in Beijing, Guangzhou, Manila, Bangkok, Taipei, Kaohsiung and Singapore. It recently won a contract to provide communications, SCADA, Platform Screen Doors and Maintenance Management Systems for the Taiwan Taoyuan International Airport Access Line.  ST Electronics’ i-Transport and traffic management solutions are currently used in Singapore and China.  It continues to pursue e-Government and transportation projects in China, Europe and the Middle East as these regions continue to implement solutions to improve their infrastructure and city planning.

Marubeni Corporation is a worldwide general business solution company specialising in eleven major segments.  In the field of railway infrastructure, Marubeni has executed several projects in Argentina, Venezuela, The Philippines and other parts of the world.  Please visit www.marubeni.com.

ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband radio frequency and satellite communication, e-government solutions, information communications technologies, rail and traffic management, realtime command and control, training and simulation, intelligent building management, and information security and mobile commerce solutions. 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 $4.49b in FY2006.  With a market capitalisation of over $10b, it ranks among the largest companies listed on the Singapore Exchange.  ST Engineering has more than 17,000 employees worldwide, and over 100 subsidiaries in 20 countries and 35 cities. Please visit www.stengg.com.

Media contact:

Sharolyn Choy
VP / Director, Corporate Communications
Singapore Technologies Engineering Ltd
Tel: (65) 6722 1883
Fax: (65) 6720 2293
Email: sharolynchoy@stengg.com

Magdalen Loh
AVP / Head, Corporate Communications
Singapore Technologies Electronics Limited
Tel: (65) 6413 1788 / 9822 3321
Fax: (65) 6484 8840
Email: magloh@stee.stengg.com