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News & Events

Archive News - June 2004

ST Electronics Secures S$11 Million Mexican Order

SINGAPORE, 25 June 2004 — Singapore Technologies Electronics Limited (ST Electronics), has been awarded a S$11 million order by GFM Electronics S.A. de C.V. (GFM Electronics) to supply Multichannel Multipoint Distribution System (MMDS) access control downconverters in Latin America. ST Electronics is the electronics arm of public-listed Singapore Technologies Engineering Limited (ST Engineering).

This is one of the many orders placed as part of an on-going contract awarded to ST Electronics in June 2002 for the exclusive supply of MMDS products. To date, total orders for ST Electronics' MMDS is estimated at about S$55 million. This new order will be delivered by December 2004.

MMDS is a system for wireless broadband communication that allows service providers to deliver services to homes of individual users over the rooftop antennas mounted with the range of powerful transmission towers.

ST Electronics is targeting the Latin American market with this product as it provides digital-quality television transmission to homes in areas where terrain makes the building of communication infrastructure difficult. MMDS enables a wide coverage that will allow providers to target areas that have no broadband or cable access, be they small cities or bypassed by neighbourhoods in big metro areas.

Incorporated in May 2000, GFM Electronics is the joint venture set up in Mexico and is owned equally by ST Electronics and Grupo Ferrominero, S.A. de C.V. (of Monterrey, Mexico). GFM Electronics markets and distributes ST Electronics system-based and electronic, high-tech products and services in Mexico and Latin America.

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.

ST Electronics delivers innovative system solutions to defence, commercial and industrial customers worldwide. It specialises in the design, development and integration of advanced electronics systems, such as broadband RF & microwave communication, rail & traffic management, real-time command & control, training & simulation, intelligent building management, and information security and m-commerce solutions. ST Electronics applies leading edge technologies and design methodologies to meet the stringent requirements of customised electronics systems and solutions. It undertakes continuing research and development to help create cost-effective proprietary products at system and component levels providing quality solutions to customers.

ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of S$2.82 billion in FY2003. Its market capitalisation of about S$6 billion ranks it among the ten largest companies listed on the Singapore Exchange. ST Engineering has 12,000 employees worldwide, and over 100 subsidiaries in 15 countries and 22 cities.

Media Contact:

Magdalen LOH
Singapore Technologies Electronics Limited
+65 6413 1788 / 9822 3321
Email: lohlmm@stee.st.com.sg

Business Contact:

Vincent Leong
Singapore Technologies Electronics Limited
+65 6413 1150
Email: leongcwv@stee.st.com.sg