ST Engineering's Land Systems Arm Secures US$31.6M Defence Export Contract

(Singapore, February 20, 2008) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has been awarded a contract worth approximately US$31.6m (about S$44.8m) by a Middle Eastern customer.

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.

The contract, part of a consortium effort to provide a mobile mortar system, involves the supply of ST Kinetics' patented 120mm Super Rapid Advanced Mortar System (SRAMS) with delivery to be completed in 2011.

The SRAMS is the world's first and only 120mm mortar system with a recoil load of less than 26 tonnes when firing at maximum charge thus allowing it to be mounted onto a wide range of light weight vehicles. The low recoil force also allows for rapid shoot and scoot missions without the need for an out-rigger. It is equipped with an automatic round loader and has a high firing rate of ten rounds per minute hence enabling missions to be accomplished with fewer mortar systems.

"We are very pleased to have won this contract. It is a testimony of the standard and quality of our products. This is also a significant achievement in ST Kinetics' efforts to open up new markets for our defence products and confirms our ability to compete among the best in the international market." said SEW Chee Jhuen, President, ST Kinetics

Source : ST Engineering Ltd.

Recent News from ST Engineering Ltd.

• ST Engineering's Aerospace Arm Acquires Remaining Shareholding In STA Solutions [Aerospace] [Aviation] [ Mon 30 Jun 2008 ]
• ST Engineering Signs JV For Contract Awarded By Singapore Navy [Defence] [ Fri 6 Jun 2008 ]
• ST Engineering's Land Systems Arm Secures US$31.6M Defence Export Contract [Defence] [ Thu 21 Feb 2008 ]
• ST Engineering's Land Systems Arm Secures S$42.5M 40mm Ammunition Export Contract [Defence] [ Thu 21 Feb 2008 ]
• ST Engineering's Aerospace Arm Inducts First ANA A320 Into Its Shanghai Facility Upon Receipt Of JCA... [Aerospace] [Aviation] [ Mon 5 Nov 2007 ]
• ST Engineering's Aerospace Arm Signs Transaero Airlines As Panama Aerospace Engineering's Second Cus... [Aerospace] [Aviation] [ Tue 30 Oct 2007 ]
• ST Engineering's US Shipyard Awarded US$41.5m Contract Modification For Egyptian Fast Missile Craft ... [Defence] [ Mon 25 Jun 2007 ]