Singapore Technologies Engineering Ltd (ST Engineering) recently said it has received a contract from Singapore’s Ministry of Defense (MINDEF) to design and build eight new vessels.
Under the contract, the company cannot reveal further details.
Vessel design will begin immediately and the delivery of these vessels is expected from 2016 and later. These new vessels will replace Singapore’s Navy’s existing Fearless-class Patrol Vessels, indigenously designed and built by ST Marine in the 1990s.
The Group’s marine arm, Singapore Technologies Marine Ltd (ST Marine), will build the eight vessels at its Singapore Benoi Yard. Singapore Technologies Electronics Limited (ST Electronics), the Group’s electronics arm, will supply the core combat systems and combat system integration solutions. ST Marine will carry out the platform system integration as the lead system integrator.
“We are honored to be awarded this contract by MINDEF, which reflects the excellent partnership between MINDEF and ST Engineering,” said NG Sing Chan, president, ST Marine. “It also demonstrates our continuing efforts and commitment to develop indigenous capability to better support MINDEF in the area of design, construction, operations and support.”
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.