Singapore Technologies Engineering today announced that its aerospace arm, Singapore Technologies Aerospace, has acquired the remaining 30% equity stake in ST Aerospace Training Academy (STATA) through its wholly-owned subsidiary, ST Aerospace Engineering.
Posts Tagged ‘Engineering’
ST Engineering unit acquires remaining 30% stake in ST Aerospace Training Academy
August 6th, 2010 |
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Hiap Seng Engineering posts 7.4% rise in net profit to $7.5m
August 6th, 2010 |
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Hiap Seng Engineering, the specialist integrated engineering group for the global oil-and-gas, petrochemical and pharmaceutical industries, today reported a revenue increase of 19.8% to $67.9 million for the first quarter ended June 30, 2010 (1QFY2011) from $56.6 million in 1QFY2010.
Rotary Engineering posts 6% rise in net profit to $13.7m
August 6th, 2010 |
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Mainboard-listed Rotary Engineering says it recorded a 6% rise in net profit to $13.7 million compared with the $13 million for the three months ended 30 June 2010. Revenue increased 28% to $209.4 million from $164.2 million.
For the half year ended 30 June 2010 (1HFY2010), the group turned in record revenue of $389.2 million with net profit of $27.5 million. These compare with $296.1 million and $17.4 million respectively in the previous corresponding period.
ST Engineering cut to Outperform from Buy by CLSA
August 4th, 2010 |
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CLSA downgrades ST Engineering (S63.SG) to Outperform from Buy on limited upside to its unchanged $3.67 target price, says Dow Jones. But remains upbeat on prospects.
“The outlook for aerospace in particular appears sanguine for the remainder of FY10 as well as for FY11, a fact supported by a sharp decline in provisioning relative to operating earnings,” says CLSA.
ST Engineering upgraded to Hold by UOB KayHian
August 4th, 2010 |
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UOB KayHian upgrades ST Engineering (S63.SG) to Hold from Sell, lifts target price to $2.98 from $2.94, citing “creditable” 14.1% on-year growth in 2Q10 earnings to S$123.9 million, management’s guidance for higher FY10 revenue, pretax profit, writes Dow Jones.
But UOB KayHian notes full-scale improvement in aerospace business unlikely until late next year as airlines delaying maintenance work, while older planes parked in desert not expected to be redeployed.
ST Engineering flat; Valuations rich: Morgan Stanley
August 4th, 2010 |
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ST Engineering (S63.SG) flat at $3.26 despite management’s guidance for higher FY10 revenue, pretax profit, notes Dow Jones.
“Against the Singapore index, STE’s valuations are not compelling,” says Morgan Stanley, which has Equalweight call with $3.30 target; “while we see the stock as well-supported on the downside, we do not see much scope for the stock to re-rate.”
STI may slip; SembMarine, CapitaMalls Asia, ST Engineering in focus
August 4th, 2010 |
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Singapore shares may retreat on weaker-than-expected US economic data, which weigh on US stocks overnight, according to Dow Jones.
STI at risk of slipping below psychologically important 3,000 mark after holding above that level for last 2 sessions. Initial support at 2,979 (July 30 low), with any upside expected to be capped at year-to-date intraday high of 3,043 set yesterday, when index ends down 0.3% at 3,014.77.
Aug 4: SembCorp Marine, ST Engineering, CapitaMalls Asia, China Aviation Oil
August 4th, 2010 |
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The following companies may have unusual price changes in Singapore trading today. Share prices are from the previous close. Singapore’s Straits Times Index fell 0.3% to 3,014.77.
SembCorp Marine (SMM SP): The world’s second-biggest builder of oil rigs said second-quarter profit rose 28% to $176.1 million from a year earlier. SembCorp Marine slipped 1% to $4.04.
ST Engineering profit rises on aerospace, land units: Update
August 3rd, 2010 |
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Singapore Technologies Engineering, Asia’s biggest aircraft maintenance company, said second-quarter profit rose 14%, bolstered by higher revenue from its aerospace and land systems units.
Net income increased to $124 million, or 4.11 cents per share, in the three months ended in June, compared with $108.7 million, or 3.62 cents, a year earlier, the company said in a statement to the city’s stock exchange. Revenue climbed 8% to $1.52 billion.
SIA Engineering +1.7%; Defensive sector play: JPMorgan
July 26th, 2010 |
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SIA Engineering (S59.SG) +1.7% at $4.20, just off new 52-week high of $4.24 set in early trade, as investors hopeful aircraft maintenance arm of Singapore Airlines (C6L.SG) will continue to gain from rebound in global aviation industry, says Dow Jones.
Optimism underpinned by 57% on-year rise in fiscal 1Q11 net profit to $70.8 million.
July 26: Raffles Medical, RSH, SIA Engineering, Frasers Centrepoint Trust, Parkway
July 26th, 2010 |
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Singapore shares may rise on Monday, as investors will take comfort from news that most European banks passed stress tests supporting risky assets.
Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.60% on Friday to 2,973.47 points.
Singapore’s final second quarter private home prices were revised to a 5.3% gain from the first quarter, versus the previous 5.2% flash estimate released earlier July. The URA private home index rose for a fourth-straight quarter.
SIA Engineering posts 57% rise in 1Q group profit to $70.8m
July 23rd, 2010 |
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SIA Engineering Company says it recorded a profit attributable to shareholders of the company of $70.8 million, an increase of $25.7 million or 57.0% from the same quarter last year. The result was in line with the recovery in the aviation industry, says SIA Engineering.
Revenue rose $44.1 million or 18.1% to $288.3 million over the same period last year. This was primarily contributed by airframe maintenance and component overhaul work and fleet management programme revenue. Expenditure increased by a lower $20.2 million or 8.7% to $252.1 million mainly reflecting higher material and staff costs to support the increase in maintenance, repair and overhaul work.
SIA Engineering biggest threat to SATS: UOB
July 23rd, 2010 |
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SIA Engineering (S59.SG) poses biggest threat to Singapore Airport Terminal Services (S58.SG) if it secures ground-handling licence at Singapore’s Changi Airport, but overall impact on latter’s earnings could still be minimal, says UOB KayHian, according to Dow Jones.
UOB KayHian notes SIA Engineering, one of four companies short-listed for Changi’s third ground-handling licence, may be keen to expand into aircraft interior cleaning, area which SATS specialises in and accounts for $40–$50 million of SATS’ revenue, with Singapore Airlines (C6L.SG) accounting for bulk of this amount.
July 21: CapitaCommercial Trust, Keppel Land, ST Engineering, NOL, Osim, Midas Holdings
July 21st, 2010 |
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Singapore shares are expected to open higher on Wednesday following gains on Wall Street, which were led by shares of Goldman Sachs, and on strong quarterly results from some Singaporean property counters.
Singapore’s benchmark Straits Times Index (.FTSTI) rose 0.11% on Tuesday to 2,948.61 points.
ST Engineering aerospace unit in US$99m China JV
July 20th, 2010 |
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Singapore’s ST Engineering (STEG.SI) said on Tuesday its aerospace arm, ST Aerospace, will set up a joint venture with a Chinese firm, with a total investment of US$99 million ($135.9 million).
July 15, 1954: Boeing 707 Makes First Flight
July 15th, 2010 |
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1954: The Boeing 367-80 makes its first flight from Renton Field southeast of Seattle. The jet-powered airliner will become the Boeing 707 and usher in the jet age for passenger travel.
Boeing was not the first company to produce a jet-powered airliner. But just as Ford’s Model T popularized the automobile despite being a latecomer [...]
Singapore Technologies Engineering rated buy (initiation)
July 15th, 2010 |
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Phillip Securities Research in a July 15 research report says: “Singapore Technologies Engineering Ltd (STE) is an established integrated engineering company with a strong position in defence and aerospace business. While maintaining a strong base in Asia, STE increased its exposure to global markets through organic growth and acquisitions over the years.
ST Engineering started at Buy by Phillip Securities
July 15th, 2010 |
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Singapore Technologies Engineering (S63.SG) started at buy with 12-month target $3.64 by Phillip Securities, according to Dow Jones.
“Our target price values the stock at 22.6x of FY 2009’s earnings and 6.2x of FY 2009 book value. These valuations are on the higher end of its historical multiples, but we believe that the sustainable long term growth, due to the company’s strong competitive position, justifies a relatively high multiple for the stock,” house says in note.
ST Engineering last down 0.3% at $3.27.
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An Engineering Measure Tip For Improving Attitudes About Measures Posted By : Joe Lindley
July 12th, 2010 |
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If you’re in a Software or Hardware Development Engineering Process or Measures group, you’re familiar with the usual complaints from engineers about measures they have to collect and provide to the organization. Even though the measures add value for projects and the organization, they are generally viewed as a mundane chore that is forced upon the projects by the organization. This is a tip on how to improve some attitudes on this issue.
SIA Engineering announces new service agreement for CEO
July 9th, 2010 |
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SIA Engineering announced a new service agreement for its president and chief executive officer, William Tan Seng Koon. The new contract will be for three years, from 1 July 2010 to 30 June 2013, and will supersede Tan’s current employment terms, according to a statement sent to the Singapore exchange.
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