Singapore Technologies Engineering Ltd News

Singapore Technologies Engineering Ltd (ST Engineering) announced Lim Chin Hu has been appointed as an independent nonexecutive director of the company with effect from July 16, 2018.Lim is currently the Managing Partner of Stream Global Pte Ltd, an incubator for info-com startups. He has over 30 years of experience in the Info-communications industry. His past working experience includes various management positions in Hewlett Packard as well as key positions in Sun Microsystems Singapore (now Oracle) and Sun in Thailand, Philippines and Vietnam.

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), has successfully launched the sixth Littoral Mission Vessel (LMV), Fortitude, designed and built for the Republic of Singapore Navy (RSN). The ceremony, held at ST Marine’s Benoi Yard, was officiated by Mr Ng Chee Meng, Minister for Education (Schools) and Second Minister for Transport. Mr Ng’s spouse, Mrs Michelle Ng was the lady sponsor who named and launched the vessel in accordance with naval traditions. The event was witnessed by many senior officials from the Ministry of Defence and the Singapore Armed Forces.

As  the move toward LNG as marine fuel moves foward in earnest, Singapore Technologies Engineering Ltd (ST Engineering) announced that its US shipyard, VT Halter Marine won the contract by Quality Liquefied Natural Gas Transport, LLC (Q-LNG) to build America’s first offshore Liquefied Natural Gas Articulated Tug and Barge (LNG ATB) unit. Q-LNG contracted VT Halter Marine for engineering services to complete the detailed design for the development and construction of one LNG Bunkering ATB unit. The ATB Tug will have 5,100 hp GE 6L250 MDC EPA Tier 4 main engines, with Z-drives, and dimensions of 128 x 42 x 21-ft.. The barge is designed to carry 4,000 cu. m. of LNG, and will have dimensions of 324 x 64 x 32.5 ft.

Singapore Technologies Engineering Ltd (ST Engineering) announced that it registered higher year-on-year profits for its third quarter ended 30 September 2017 (3Q2017). Group revenue of $1.62b came in with higher Profit before tax (PBT) of $162.9m, up 53% from $106.6m, and higher Profit attributable to shareholders (Net Profit) of $128.4m, up 67% from $76.7m. Higher profits were largely due to the absence of the $61.1m one-off charge incurred in 3Q2016 for its Specialty Vehicle business in China.

Singapore Technologies Engineering Ltd (ST Engineering) announced that its Corporate Venture Capital unit, ST Engineering Ventures Pte Ltd (ST Engineering Ventures) has made a Series B investment of $5.79m for a minority interest in Janus Technologies, Inc., an endpoint cyber security provider based in California. “This is the first investment by our Corporate Venture Capital unit in companies with cutting edge technologies or breakthrough innovations,” said Vincent Chong, President & CEO of ST Engineering. The Group has identified cyber security, along with robotics, autonomous technology, and data analytics as strategic capabilities that it will invest in to create long term value and growth.

Singapore Technologies Engineering Ltd (ST Engineering) said it has acquired the rig repair assets of World Marine of Mississippi LLC (WMM) adjacent to its existing yard, VT Halter Marine, Inc. in Pascagoula, Miss. in the U.S., through its subsidiary Vision Technologies Marine, Inc. (VT Marine). ST Engineering paid $25 million for these assets, comprising a purpose-built facility of 94 acres for heavy marine fabrication and offshore oil and gas rig upgrades, repairs and conversions in the Gulf of Mexico region are within close proximity to VT Halter Marine’s Pascagoula yard. Since the downturn of the offshore and marine industry, ST…

Singapore based defense and engineering firm Singapore Technologies Engineering Ltd (ST Engineering) has appointed Neo Kian Hong as nonindependent and nonexecutive director of the company, effective June 30, 2017. Neo is Singapore’s Permanent Secretary (Defense Development) and has held various command positions in the Ministry of Defense, including Chief of Army and Chief of Defense Force. He was also Permanent Secretary (Education Development) at Ministry of Education until June 19, 2017. Neo holds a Bachelor of Engineering (Electrical and Electronic Engineering) from the University of London, U.K. as well as a Master of Science (Management of Technology) from the Massachusetts Institute of Technology, U.S.

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), launched the fourth Littoral Mission Vessel (LMV), Justice, designed and built for the Republic of Singapore Navy (RSN). The ceremony was officiated by Dr. Mohamad Maliki Bin Osman, Senior Minister of State (Ministry of Defence and Ministry of Foreign Affairs), who took on the role as the lady sponsor in accordance with naval traditions to name and launch the vessel at ST Marine’s Benoi Yard.

Singapore Technologies Engineering Ltd (ST Engineering) announced that Hovertrans Solutions Pte. Ltd. (Hovertrans Solutions), a subsidiary of Singapore Technologies Marine Ltd (ST Marine) has been placed under members’ voluntary winding up pursuant to Section 290(1)(b) of the Companies Act, Chapter 50. Hovertrans Solutions was set up as a joint venture company between ST Marine and its partners, Hovertransport Consultants Ltd, Clearstone Investments LLC and Oasis Marine Consultants Pte. Ltd. to exploit the use of hoverbarges for heavy lift in difficult terrain in the global oil and gas, and specialist transportation industries. The decision to liquidate Hoverstrans Solutions was mutually agreed by all shareholders.

On 12 September 2011, Singapore Technologies Engineering Ltd (ST Engineering) announced that the Corrupt Practices Investigation Bureau (CPIB) was investigating certain transactions involving former and current employees of Singapore Technologies Marine Ltd (ST Marine). ST Marine has been extending its fullest cooperation to the CPIB in its investigation since 2011. The company also refer to the announcements on 11 December 2014, 30 December 2014, 10 June 2015, 1 July 2015, 13 January 2016, 30 August 2016, 27 September 2016 and 2 December 2016 in relation to the criminal prosecution of former employees of ST Marine. The company wishes to announce that on 5 January 2017…

Singapore Technologies Engineering Ltd announced that its Singapore shipyard, Singapore Technologies Marine Ltd (ST Marine) and its US shipyard, VT Halter Marine Inc (VT Halter Marine) have secured new contracts worth $138m in 4Q2016. In Singapore, the Ministry of Home Affairs (MHA) has awarded a contract to a consortium formed by ST Marine and Penguin International Limited (PIL) for the design, construct and the system maintenance programme for three vessels - Heavy Marine Fire Vessel (HMFV), Heavy Marine Rescue Vessel (HMRV) and Marine Rescue Vessel (MRV). The consortium allows both ST Marine and PIL to leverage on each other’s capabilities to provide a total package solution to MHA. Construction of the vessels is anticipated to commence in mid-2017 with delivery expected in 2H2019.

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), successfully launched the third Littoral Mission Vessel (LMV), Unity, designed and built for the Republic of Singapore Navy (RSN). The ceremony was officiated by Mr Ong Ye Kung, Acting Minister for Education (Higher Education and Skills) and Senior Minister of State for Defence. Mrs Diana Ong, spouse of Mr Ong, took on the role as the lady sponsor in accordance with naval traditions to name and launch the vessel at ST Marine’s Benoi Yard. The event was witnessed by many senior officials from Ministry of Defence (MINDEF) and the Singapore Armed Forces.

Singapore Technologies Engineering Ltd (ST Engineering) today announced the resignation of Mr Quek Tong Boon as non-executive Director with effect from 1 July 2016. Mr Quek has been with the Board since 1 March 2008 and has been the Chairman of its Research, Development and Technology Committee. The Board of Directors would like to acknowledge its deep appreciation to Mr Quek for his invaluable contributions to the Board and the Board Committee he has served. ST Engineering, headquartered in Singapore, reported revenue of $6.34b in FY2015 and ranks among the largest companies listed on the Singapore Exchange.  It is a component stock of the FTSE Straits Times Index, MSCI Singapore and SGX Sustainability Leaders Index.

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), has held the Interim Acceptance ceremony for the Patrol Vessel (PV) RNOV Khasab. This is the final, in a series of four vessels, designed and built for the Royal Navy of Oman (RNO). The Guest-of-Honour was the Consul General for the Oman Consulate for the Republic of Singapore, HE Zakariya Hamed Hilal Al Saadi. The contract for the design and build of the four Al-Ofouq class of PVs was awarded by the Ministry of Defence of the Sultanate of Oman in April 2012.

Singapore Technologies Engineering Ltd (ST Engineering) today announced that it has injected US$66m (approximately S$89m) into the capital of its US Headquarters, Vision Technologies Systems, Inc. (VT Systems), for the repayment of bank loans. This brings ST Engineering’s total investment in VT Systems to US$343.96m (approximately S$464m). Following the capital injection above, VT Systems has capitalised its outstanding loan balance of US$35.28m (approximately S$47m) and US$33.08m (approximately S$44m) in its subsidiaries, Vision Technologies Kinetics, Inc. and Vision Technologies Land Systems Inc respectively. Vision Technologies Land Systems has, in turn, capitalised its outstanding loan balance of US$33.08m (approximately S$44m) in its subsidiary, VT Hackney Inc.

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Launching Ceremony today for the second Littoral Mission Vessel (LMV), Sovereignty, designed and built for the Republic of Singapore Navy (RSN). The Launch Ceremony was officiated by Mr Teo Chee Hean, Deputy Prime Minister and Coordinating Minister for National Security. Initiating the launch of the vessel at ST Marine’s Benoi Yard was DPM Teo’s wife, Mrs Teo Chee Hean. The event was witnessed by Dr Ng Eng Hen, Minister for Defence; Dr Mohamad Maliki Bin Osman, Senior Minister of State for Defence, and many senior officials from Ministry of Defence (MINDEF) and the Singapore Armed Forces (SAF).

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), today held the Interim Delivery and Acceptance ceremony for the third Patrol Vessel (PV), RNOV Sadh, together with the Naming Ceremony for the fourth PV, RNOV Khassab, built for the Royal Navy of Oman (RNO). The Guest-of-Honor was the Commander of the Royal Navy of Oman, Rear Admiral (RADM) Abdullah bin Khamis bin Abdullah al-Raisi. The contract for the design and build of the four Al-Ofouq class of PVs was awarded by the Ministry of Defence of the Sultanate of Oman in April 2012. It was the largest defence export contract in ST Engineering’s history. These four vessels will replace the Sultanate’s current four Seeb class PVs commissioned in the early 1980s.

Singapore Technologies Engineering Ltd (ST Engineering) said that its marine arm, Singapore Technologies Marine Ltd (ST Marine) has secured new orders worth about $344m for its Shiprepair and Engineering business groups in the fourth quarter of 2015. The contracts cover major upgrades, conversion, maintenance and repair of vessels in the naval and commercial segments.  These vessels include patrol vessels, pipe-laying vessel, accommodation & work barge, oil & chemical tankers, and a cruise ship. The new orders also included logistics management services. These projects are being carried out in the Singapore facilities, and will be delivered progressively over the next two to six years.

Singapore Technologies Engineering Ltd (ST Engineering) announced today that its marine arm, Singapore Technologies Marine Ltd (ST Marine) has secured new orders worth about $344m for its Shiprepair and Engineering business groups in the fourth quarter of 2015. The contracts cover major upgrades, conversion, maintenance and repair of vessels in the naval and commercial segments. These vessels include patrol vessels, pipe-laying vessel, accommodation & work barge, oil & chemical tankers, and a cruise ship. The new orders also included logistics management services. These projects are being carried out in the Singapore facilities, and will be delivered progressively over the next two to six years.

On 12 September 2011, Singapore Technologies Engineering Ltd announced that the Corrupt Practices Investigation Bureau (“CPIB”) was investigating certain transactions involving former and current employees of Singapore Technologies Marine Ltd (“ST Marine”). ST Marine has been extending its fullest cooperation to the CPIB in its investigation since 2011. Following their earlier announcements on 11 December 2014 and 30 December 2014 in relation to the criminal prosecution of four former employees of ST Marine, the company states that on 10 June 2015, Patrick Lee (“Lee”), the former Group Financial Controller of ST Marine from 15 January 2001 to 31 March 2007, was charged in the State Courts of Singapore with a total of 38 charges under section 477A of the Penal Code.

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), held the Launching ceremony for the first Littoral Mission Vessel (LMV) - Independence built for the Republic of Singapore Navy (RSN). The vessel was launched by Mrs Ivy Ng, wife of the Minister for Defence, Dr Ng Eng Hen at ST Marine's Benoi yard. The ceremony was officiated by Dr Ng Eng Hen and witnessed by the Second Minister for Defence, Mr Lui Tuck Yew, the Minister of State for Defence, Dr Mohamad Maliki Bin Osman, along with senior Ministry of Defence (MINDEF) and Singapore Armed Forces (SAF) officials. The launch of Independence, the first in-class LMV, marks another significant milestone for the LMV programme.

The Royal Navy of Oman (RNO) celebrates the delivery of its second of four new patrol vessel, together with the naming of its third, at an event hosted by shipbuilder Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering). The recently delivered RNOV Shinas and recently named RNOV Sadh were celebrated at a ceremony featuring as its guest of honor Commander of the Royal Navy of Oman, Rear Adm. Abdullah bin Khamis bin Abdullah al-Raisi (TBA-RNO).

Singapore Technologies Engineering Ltd (ST Engineering) today announced the appointment of Mr Lim Ah Doo as an independent non-executive Director of the Company and a Member of the Audit Committee with effect from 10 November 2015. Mr Lim, 66, was formerly the President and subsequently the non-executive Vice Chairman of RGE Pte Ltd (formerly known as RGM International Pte Ltd). His past working experience includes an 18-year banking career in Morgan Grenfell from 1977 to 1995, during which he held several key positions including that of Chairman of Morgan Grenfell (Asia) Limited.  Mr Lim graduated with an honours degree in Engineering from the Queen Mary College, University of London and a Master in Business Administration from the Cranfield School of Management.