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June 2008

ST Electronics Awarded US$8m Contract For Taxi Fleet Management System In The United Arab Emirates

Singapore, 16 June 2008 — Singapore Technologies Electronics Limited (ST Electronics) today announced that it has been awarded a contract worth US$8m (about S$12m) to provide an advanced taxi despatch and management system for Sharjah Public Transport Corporation (Sharjah Transport) in Sharjah, United Arab Emirates (UAE).  The contract was awarded through ST Electronics’ subsidiary, ST Electronics (Info-Comm Systems) Pte. Ltd.  ST Electronics is the electronics arm of Singapore Technologies Engineering Ltd (ST Engineering).

ST Electronics will deliver the advanced taxi despatch and management system for Sharjah Transport over a period of 15 months from July 2008.  It won this contract against competition from international players.

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.

Sharjah Transport, established in November 2002, is fully owned by the Government of Sharjah and is the sole authority to determine the policies for all public transport services in the emirate.   Sharjah Transport owns the exclusive rights to regulate, control and franchise passenger transport services which includes taxis, intra-emirate and inter-emirates mass transport within the UAE.

ST Electronics has achieved two significant milestones through this contract.  It is the company’s first taxi management system secured in the UAE and ST Electronics’ first project in Sharjah.  Sharjah, the third largest of the seven emirates which form the UAE, is located next to Dubai.

ST Electronics will work closely with Sharjah Transport to design, supply, implement and maintain an advanced taxi despatch and management system for its various taxi fleets. The system provided is based on ST Electronics’ homegrown and patented award-winning cetrac® iCab automated taxi booking and despatch system.  It integrates Information Communication Technology (ICT), including wireless technology, automated booking and intelligent data mining to despatch the most suitably available taxi to customers in the shortest possible time.  It addresses the needs of various stakeholders, from commuters to taxi drivers, taxi operators and related authorities.  The solution optimises taxi booking & despatch operation and improves productivity by offering various channels for the convenient booking of vehicles by customers, track the whereabouts of the vehicles and assign jobs to the best suited vehicle.

The key features of the system developed for Sharjah Transport include support for bureau service operations, management of digital map/locations update, seamless integration with other booking channels, automated call-taking and monitoring, computer-aided despatch, automatic vehicle location, fleet management and reporting.  The system’s powerful and versatile bureau service supports the sharing of call centre or a single booking number by different fleets and companies; alternatively it also supports different booking numbers for individual companies.  This feature is highly beneficial to Sharjah Transport which will be deploying this system to manage a number of taxi fleets owned by various operators.

ST Electronics has established a strong track record in providing advanced telematics and fleet management systems to various customers: over 30,000 vehicles worldwide have been equipped with its products and systems, including Taiwan’s first large-scale, fully automated taxi despatch system and Singapore’s largest taxi fleet owners, ComfortDelGro, with a fleet of more than 15,000 taxis, the largest in the world.

With the implementation of this new system, passengers in Sharjah will enjoy better customer service and shorter waiting time. Drivers will benefit from increased despatch efficiency and fleet owners will experience lower vehicle operating costs. We regard this development of great importance to Sharjah as it will elevate our status as an emirate that offers first-class public transport for our residents and visitors.

Mr Abdullah Mohd Al-Zari
Director General, Sharjah Transport

As a leading fleet management solutions provider in Asia, we are delighted to have this opportunity to bring our telematics solutions for the first time to the UAE.  This is an excellent landmark project as we work with Sharjah Transport, to provide them with a state-of-the-art fleet management solution.  This project allows us to extend our world-class fleet management solutions to the Middle East.

SEAH Moon Ming
President, ST Electronics

The pace of development in Sharjah, and the UAE as a whole, has been impressive.  Singapore is proud to be able to play a small part in the emirate’s vision towards providing first-class systems and services.  There is much scope for Singapore and Sharjah to cooperate in city and infrastructure development.  The ST Electronics-Sharjah Transport project is an excellent showcase of Singapore’s commitment towards deepening the friendship and business relations between our countries.

LEE Yi Shyan
Singapore Minister of State for Trade and Industry

ST Electronics (Info-Comm Systems) is a wholly-owned subsidiary of Singapore Technologies Electronics Limited. It is a leading solutions house in the Asia Pacific region for infocommunications, advanced electronics and intelligent transportation businesses. From design and development to production, system integration, maintenance and enhancement, it has become a one-stop solutions house and a strong partner for its commercial, government, defence and homeland security customers worldwide. Its core business areas include emergency response and integrated security & surveillance systems, e-Government infocommunication and enterprise solutions, intelligent traffic and advanced fleet management systems, infocommunication security products and solutions, and managed operations services.

ST Electronics, the electronics arm of ST Engineering, delivers innovative system solutions to government, commercial, defence, and industrial customers worldwide.  With presence in more than 18 countries and 28 cities, ST Electronics markets its solutions to more than 70 countries internationally.  It specialises in the design, development and integration of advanced electronics and communications systems, such as broadband radio frequency and satellite communication, e-Government solutions, information communications technologies and IT, rail and traffic management, real-time command & 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 $5.05b in FY2007. With a market capitalisation of over $9b, it ranks among the largest companies listed on the Singapore Exchange. ST Engineering has more than 18,000 employees worldwide, and over 100 subsidiaries and associated companies in 21 countries and 35 cities. Please visit www.stengg.com

Media contact:

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

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