View - Singapore Technologies Engineering

NOV29 DECS$2.79JANJUNJULAUGOCTYEAR HIGH: 2 NOVS$2.85DEC3 JANS$2.59*Stock prices indicated are basedon end of day closing priceJ A N U A R YST Aero commissionedSuper Nose Dock, ahangar capable ofaccommodating twowidebody aircraft.*F E B R U A R YST Aero co-organisedwith Boeing, AsianAviation Summit, ahigh-level, closed doorsummit for Asian airlineFEBchiefs and seniorexecutives. Keynotespeakers includedSM Lee Kuan Yew andDr Henry Kissinger.The fourth and lastLanding Ship Tank(LST), designed andbuilt by ST Marine, waslaunched by Mrs DavidLim, wife of the Ministerof State for Defence.Launch of JuzTalk, anall-in-one enterprisecommunication systemwith interfaces for avariety of terminalssuch as multimediaPCs, fax machines,telephones, wirelessdevice and digital audiobroadcast transceivers.Launch ofjuzclickcar.com.sg –Singapore’s firstcertified, used caronline bidding systemby STA Inspection.Mr Boon Swan Foopresented ST Enggcapabilities to air chiefsfrom all over the worldat the Millennium AirPower Conference.MARThe Group co-organisedand participated inAsian Aerospace2000, the world’s thirdlargest aerospaceshow. Several newproducts and serviceswere launched: F-16Falcon ONE upgrade,Bionix RecoveryVehicle, All TerrainYEAR LOW: 13 MARS$1.84Tracked Carrier, andSAR 21 variants.Completion of acquisitionof CharteredIndustries of Singaporeand the renaming ofST Auto as ST Kineticsto better reflect theenlarged businessactivities of the company.APRM A R C HST Marine participatedin SingaPort 2000, heldat the SingaporeExposition Centre.MINDEF announced theacquisition of sixfrigates, of which fivewill be built by STMarine.A P R I LST Engg signed anagreement with Freemarketsto access itsB2B eMarketplace topurchase customengineeredproductsand services fromsuppliers globally.Launch ofjuzclickcal.com, a 24x7online equipmentinventory managementtool by ST Elect.MAYTo show the airtransportabilityof theBionix, Roll-on/Roll-offdemonstrations from aC-130 were held inSingapore & Huntsville,Alabama, US. The USdemonstration wasattended by the media,military and officials.Incorporation of VTKinetics to spearheadST Engg’s Land Systemsactivities in the US.Its first activity wasto participate in themulti-billion dollar USArmy IAV programme.ST Elect signed a JVagreement with GrupoFerrominero to set upGFM Electronics inMonterey, Mexico topromote and distributeST Elect’s electronics,high-tech products andservices as well as tocarry out electronicssystem-based projectsin Mexico.M A YRSS Endurance, thefirst LST designed andbuilt by ST Marine, setsail on its maidenvoyage, becoming thefirst RSN ship to circumnavigatethe globe.NTUC Income investeda 15% stake in juzclickcar.com.sgas a strategicpartner. The portaloffers attractive insurancepremiums,extendedwarranties and carloans, making theautomotive portal moreconvenient for users.J U N EInvestment by ST Electin a 19.8% stake inMetron CommunicationsCorp., a chip designcompany engaged inthe development ofGeneral Packet RadioSwitch (GPRS) communicationchip set.Rationalisation of STEngg’s US activitiesunder the umbrella ofVision Technologies.Submission of tenderto the US Army for theIAV programme, followedby submission of thebid sample for evaluationat the AberdeenProving Grounds inMaryland, US.J U L YSigning of aPartnership Agreementbetween ST Aero andiMerchants to set upishopaero.com, a neutralB2B exchange thataims to serve the aerospaceindustry byenabling a wide rangeof aerospace parts andservices to be boughtand sold over theInternet.Signing of MOUbetween ST Aero andBAE Systems for thefurther development ofFalcon ONE Upgradefor F-16 aircraft.As part of Sail Navy2000, RSS Endurancecalled in on the port ofNew York to participatein International NavalReview 2000. TheBionix was also displayedon the LST.ST Kinetics signed anagreement to set up acollaborative researchSEPprogramme withSingapore’s NanyangTechnologicalUniversity. The aim isto undertake researchand developmentwork in Advancedand IntelligentMechatronics.Bionix Day at thePentagon and CapitolHill in Washington DC.The demonstrationswere attended by themedia, Pentagon andarmy officials andCongressional staffers.This was followed by aroad show to severalother states to demonstratethe capabilitiesof the Bionix throughoutthe whole ofAugust.A U G U S TST Engg participatedin the 35th NationalDay Parade.ST Elect incorporatedST Electronics (Taiwan)to design and executetraffic and rail managementsystems andintelligent buildingprojects there.ST Elect clinchedS$5.9 million contractto provide trafficcontrol managementsystem in Suzhou City,China, using the Cetrac2000 system.SEPTEMBERST Elect clinched aS$12.6 million contractto provide communicationssystem for TuchengMRT Line in the Taipeimetropolitan area.STA Inspection signed anMOU with PUSPAKOMof Malaysia to developa used car onlineauction portal.Completion of firstAdvanced CockpitFlight Deck programmefor Boeing by MAE.O C T O B E RST Kinetics exhibitedat the Association ofUS Army AnnualMeeting in Washington,DC. ST Kinetics showcasedits wide range ofland systems productsincluding the Bionix, AllTerrain Tracked Carrier,SAR 21, and the 40mmgrenade.ST Kinetics participatedat the ModernMarine MilitaryExposition Quantico,Virginia, US, showcasingits SAR 21 assaultrifle.ST Marine participatedin Euronaval 2000,Paris, France.Groundbreaking beganfor construction of atwo-bay hangar in MAEfor the B757 Passengerto-Freighter conversionwork.NOVEMBERST Kinetics increasedits stake in ShanghaiElite Electric Vehicle tobecome its sole owner.SEEV will be used asthe beachhead foralternative energytransportation andclean power productsin the China market.ST Aero signed JVagreement with UnitedTechnologies Holdings (aunit of Pratt & Whitney)and SIA Engg to formTurbine Coating Services.TCS will perform PW4000turbine airfoil repair.Signing of JVagreement with SMRTEngineering to undertakethe business ofdesign, manufacture,promotion, distributionand sale of railwayrelatedproducts andservices in Singaporeand globally.SASCO redeliveredthe first DC-10 convertedfreighter to Boeingahead of schedule.SASCO achieved twofirsts: first DC-10 aircraftto be converted inSoutheast Asia and thefirst amongst Boeing’snetwork of facilities toredeliver a convertedDC-10 ahead of schedule.DECEMBERST Kinetics increasedshareholding inSolectria Corporationfrom 9.6% to 44.1%.Solectria Corporation isengaged in the design,engineering, and manufactureof advancedelectric, hybid and fuelcell vehicles drivesystems and relatedcomponents. Thisinvestment will helpposition ST Kinetics asa prominent player inthe alternative energytransportation anddistributed powergeneration industriesin Asia.ST Aero’s B2B portal,ishopaero.com went‘live’ with value-addedfeatures for trading ofaviation parts andservices. It will enablebuyers to reach awider range of potentialsuppliers thanbefore and identify themost attractive sourcesof materials.ST Elect clinched aS$87 million contractto provide electronicssystems for control,communications andsecurity managementfor the Marina MRTline. ST Elect willdeliver a fully-automated,medium-capacityrail system to the5.4km, 6-station lineslated for completion in2005/2006.REVIEW1QGROUP PERFORMANCEGroup turnover increased50% to S$589 million whileprofit before tax increased36% to S$92 million, duelargely to contributionsfrom Land Systems andMarine sectors.QUARTER ON QUARTER CHANGE IN TURNOVERAERO3%86%LAND SYSTEMSELECT25%MARINE347%QUARTER ON QUARTER CHANGE IN PBTAERO2%197%LAND SYSTEMSELECT35%MARINE86%REVIEW2QGROUP PERFORMANCEGroup turnover dipped by 6%to S$501 million due to lowerturnover from the Marinesector. However, profit beforetax rose 24% to S$95.1 millioncompared to the sameperiod the previous year.QUARTER ON QUARTER CHANGE IN TURNOVERAERO 16%ELECTLAND SYSTEMSMARINE10%56%76%QUARTER ON QUARTER CHANGE IN PBTAERO 61%ELECTLAND SYSTEMSMARINE37%142%67%REVIEW3QGROUP PERFORMANCEGroup turnover grew by 25%to S$493 million due mainly tothe Land Systems sector.Profit before tax increased 42%to S$99.6 million in comparisonwith the corresponding periodthe previous year.QUARTER ON QUARTER CHANGE IN TURNOVERAERO 28%ELECTLAND SYSTEMSMARINE13%72%11%QUARTER ON QUARTER CHANGE IN PBTAERO 56%ELECTLAND SYSTEMSMARINE18%132%110%10%REVIEW4QGROUP PERFORMANCEGroup turnover rose 52% to S$676million with increased contributionsfrom the Land Systems andMarine sectors. Profit before taxfor the quarter grew by 47% toS$125.8 million compared to thesame quarter in the previous year.QUARTER ON QUARTER CHANGE IN TURNOVERAERO ELECT3%LAND SYSTEMSMARINE20%97%294%QUARTER ON QUARTER CHANGE IN PBTAERO6%LAND SYSTEMS6%161%ELECT100%MARINE119%19%