ST Marine Bags $ 344 mln Order in 4Q
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.
These contracts 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.