ST Engineering's Land Systems Arm Secures $78m Weapon Maintenance Contract From The SAF

(Singapore, 5 February 2007) -- Singapore Technologies Engineering Ltd (ST Engineering) today announced that its land systems arm, Singapore Technologies Kinetics Ltd (ST Kinetics), has been awarded a six year contract, with an option for another six years, to provide weapon maintenance and related services to the Singapore Army. The contract is valued at approximately $13m annually.

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.


Under the agreement, ST Kinetics will provide a full range of maintenance services including unit and depot level repair, spares provisioning and procurement for most of the weapons in the Army.

"As a strategic partner of the Singapore Armed Forces, we value their continued confidence in ST Kinetics to provide turnkey maintenance and support services for their range of weapons. Weapon maintenance was previously handled by various SAF agencies and third parties. Our efforts will now enable our customer to consolidate and streamline various weapon maintenance activities for greater efficiency and cost effectiveness." ~ SEW Chee Jhuen, President, ST Kinetics

Source : ST Engineering