ST Engineering
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Singapore, 14 April 2015 – Singapore Technologies Engineering Ltd (ST Engineering) today announced that its aerospace arm has clinched new contracts worth $298m in the first quarter (1Q) of 2015. These new orders involve projects ranging from aircraft maintenance and cabin interior modification, to engine wash and pilot training.
Included in the 1Q2015 contracts is a five-year Maintenance-By-the-Hour (MBH) agreement signed with an existing Asia-based airline customer, operating a fleet of Boeing 737NG aircraft. Under the agreement, ST Aerospace will provide MBH support services for nine 737NG aircraft, covering component repairs, consignment of spares, as well as access to its inventory pool of rotables worldwide. This new contract adds to the current MBH contract signed in 2010, for the support of the airline’s ten 737NG aircraft.
Additionally, a contract was sealed with an international airline for heavy maintenance of six Boeing 767 and 777 aircraft. The first aircraft was inducted in March 2015, with project completion of the entire fleet scheduled for mid 2015.
In Guangzhou, its airframe maintenance facility has inducted the first Airbus A320 aircraft from an Asian low-cost airline for heavy maintenance. There will be a total of 21 A320 aircraft undergoing a series of C-checks throughout the year in its Guangzhou facility.
In the US, an agreement was signed with a US-based leasing company for the aircraft interior modification of two 737 aircraft.
On pilot training, its flight training academy in Singapore has signed a five-year agreement with a Middle Eastern customer for a Multi-crew Pilot License programme. The first batch of 11 cadets will commence training in June 2015.
During the quarter, ST Aerospace won two other 737NG landing gear overhaul and exchange contracts for airline operators in Asia. In 1Q2015, the aerospace sector redelivered a total of 250 aircraft for airframe maintenance and modification work.
In addition to airframe redeliveries, a total of 11,332 components, 49 landing gears and 48 engines were processed, while 1,631 engine washes were conducted for both commercial and military customers.
On aircraft capability development, the aerospace sector’s airframe facility in Guangzhou has obtained additional certifications from the US Federal Aviation Administration (FAA) for Airbus A330 and Boeing 757 aircraft. In the US, the first part-out has been accomplished on a McDonnell Douglas MD-11 aircraft, for a European aircraft leasing company.
On cabin interior capabilities, ST Aerospace has established a new joint venture with Tenryu Holdings Co, Ltd. Based in Singapore, ST Aerospace Aircraft Seats will be responsible for the end-to-end design and manufacturing of a series of economy, business and first class aircraft seating solutions.
On pilot training capabilities, its US flight training academy is now operational as a FAA Part 141 certified institution, to conduct commercial pilot training programmes in Hondo, Texas for both local and international students.
The above developments are 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.
Included in the 1Q2015 contracts is a five-year Maintenance-By-the-Hour (MBH) agreement signed with an existing Asia-based airline customer, operating a fleet of Boeing 737NG aircraft. Under the agreement, ST Aerospace will provide MBH support services for nine 737NG aircraft, covering component repairs, consignment of spares, as well as access to its inventory pool of rotables worldwide. This new contract adds to the current MBH contract signed in 2010, for the support of the airline’s ten 737NG aircraft.
Additionally, a contract was sealed with an international airline for heavy maintenance of six Boeing 767 and 777 aircraft. The first aircraft was inducted in March 2015, with project completion of the entire fleet scheduled for mid 2015.
In Guangzhou, its airframe maintenance facility has inducted the first Airbus A320 aircraft from an Asian low-cost airline for heavy maintenance. There will be a total of 21 A320 aircraft undergoing a series of C-checks throughout the year in its Guangzhou facility.
In the US, an agreement was signed with a US-based leasing company for the aircraft interior modification of two 737 aircraft.
On pilot training, its flight training academy in Singapore has signed a five-year agreement with a Middle Eastern customer for a Multi-crew Pilot License programme. The first batch of 11 cadets will commence training in June 2015.
During the quarter, ST Aerospace won two other 737NG landing gear overhaul and exchange contracts for airline operators in Asia. In 1Q2015, the aerospace sector redelivered a total of 250 aircraft for airframe maintenance and modification work.
In addition to airframe redeliveries, a total of 11,332 components, 49 landing gears and 48 engines were processed, while 1,631 engine washes were conducted for both commercial and military customers.
On aircraft capability development, the aerospace sector’s airframe facility in Guangzhou has obtained additional certifications from the US Federal Aviation Administration (FAA) for Airbus A330 and Boeing 757 aircraft. In the US, the first part-out has been accomplished on a McDonnell Douglas MD-11 aircraft, for a European aircraft leasing company.
On cabin interior capabilities, ST Aerospace has established a new joint venture with Tenryu Holdings Co, Ltd. Based in Singapore, ST Aerospace Aircraft Seats will be responsible for the end-to-end design and manufacturing of a series of economy, business and first class aircraft seating solutions.
On pilot training capabilities, its US flight training academy is now operational as a FAA Part 141 certified institution, to conduct commercial pilot training programmes in Hondo, Texas for both local and international students.
The above developments are 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.
coloumbiaGames
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Please explain.
I think he don't literally mean the stock play cheat...the stock has no brains, and the price is determined by institutions and insiders.
what he mean is probably there are insider who knows what's happening to load up the stock before the news on winning contract comes out...sounds like kinda cheating
Dividends Warrior
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You are most welcome.
Yup, nowadays, I find myself visiting the individual company websites more.
wahkao3
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yes tatz wad i meant
In fact, the buying started 1-2 days ago. It's still some way to go before xd. I expect price to inch up nearer xd date. Chiong ah!
Shutterfly
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Congrats to everyone. Mine also turned green finally yesterday.
3.77 liaoo... Have u take some profit?
letsmakemoney
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Haha........info leak again
ST Engineering’s Electronics Arm Wins Contracts
worth about $383m in 1Q2015
http://infopub.sgx.com/Apps?A=COW_C...43f5da99d121d64d5&fileId=1Q2015 Bundle_PR.pdf
ST Engineering’s Electronics Arm Wins Contracts
worth about $383m in 1Q2015
http://infopub.sgx.com/Apps?A=COW_C...43f5da99d121d64d5&fileId=1Q2015 Bundle_PR.pdf
walao.... I think today up 2% also cause of this!!
wahkao3
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y u so revengeful?
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