ST Engineering
{{Short description|Global technology, defence and engineering company}}
{{confuse|ST Telemedia}}
{{Primary sources|date=May 2022}}
{{Use dmy dates|date=November 2021}}
{{Use Singapore English|date=November 2021}}
{{Infobox company
| name = Singapore Technologies Engineering Ltd
| trade_name = ST Engineering
| logo = ST Engineering Logo.svg
| logo_size = 250px
| type = Public
| traded_as = {{sgx|S63}}
| founder =
| area_served =
| key_people = Vincent Chong, Group President & CEO
| industry = Technology, Engineering, Defence, Aerospace, Smart City, Public Security, Satellite Communications, Digital Solutions
| genre =
| products = Aerostructures and Systems
Smart Rail and Road Mobility Solutions
Smart Utilities and Infrastructure
Satellite Communications
C5ISR
Land Defence Systems
Training and Simulation
Critical Infrastructure and Surveillance Systems
Maritime Systems
AI solutions
Cybersecurity
| services = Aerospace MRO
Aircraft and Engine Leasing
Freighter Conversions
Military Aircraft MRO
Shipbuilding
Ship Repair and Conversion
Cloud Managed Services
Cybersecurity services
| revenue = {{increase}} {{SGD|11.28 billion}} (FY2024)
| operating_income = {{increase}} {{SGD|1.08 billion}} (FY2024)
| net_income = {{increase}} {{SGD|702 million}} (FY2024)
| assets =
| equity =
| owner =
| num_employees = {{increase}} 27,000 (2024)
| parent =
| subsid =
| footnotes =
| intl =
| foundation = {{start date and age|df=y|1967}}
| location_city =
| location_country =
| location = Singapore
| locations =
| caption =
| website = {{URL|https://www.stengg.com/}}
}}
ST Engineering, is a global technology, defence and engineering group with a diverse portfolio of businesses across the aerospace, smart city, defence and public security segments. Headquartered in Singapore, the group reported a revenue of over S$11 billion in 2024 and ranks among the largest companies listed on the Singapore Exchange. It is a component stock of MSCI Singapore, FTSE Straits Times Index and Dow Jones Best-in-Class Asia Pacific Index.{{Cite web |date=27 February 2025 |title=News - ST Engineering Delivers Record Revenue and Net Profit in 2024 |url=https://www.stengg.com/en/newsroom/news-releases/fy2024 |url-status=live |archive-url= |access-date= |website=www.stengg.com}}
The Group harnesses technology and innovation to solve real-world problems, enabling a more secure and sustainable world. It leverages synergies across the group and strategic partnerships externally to accelerate innovation, its strategic AI pillars, and its core technological and engineering capabilities.{{Cite web |title=Innovation {{!}} ST Engineering |url=https://www.stengg.com/en/innovation/ |url-status=live |archive-url= |archive-date= |website=www.stengg.com}}
ST Engineering has more than 27,000 employees with diverse background and skills, including over 19,000 engineering and technical talents.{{cite web |title=About ST Engineering |url=https://www.stengg.com/en/about-us |url-status=live |archive-url= |archive-date= |website=www.stengg.com}}
History
ST Engineering's history began with its precursor, the Chartered Industries of Singapore, which was established in 1967 by the newly independent Singaporean government as an ammunition manufacturer.
Businesses related to aerospace and shipbuilding were later created and put under the ST umbrella. The ST group of companies went commercial in 1990, setting up its first commercial airframe manufacturing, repair and overhaul facilities in Singapore and the United States. ST Engineering was created in December 1997 as a merger of four listed companies: ST Aerospace, ST Electronics, ST Automative and ST Marine. Its shares debuted on the Singapore Exchange on 8 December 1997.Boey, Dylan. [https://web.archive.org/web/20080220234053/http://news.asiaone.com/News/The+Straits+Times/Story/A1Story20071230-43007.html From bullet maker to defence tech giant]. AsiaOne. 30 December 2007.Lee Xin En. [http://www.straitstimes.com/business/tanks-for-the-memories-st-engineering-turns-50 Tanks for the memories: ST Engineering turns 50]. The Straits Times. 27 January 2017.
Since then, ST Engineering has grown to become one of Asia's largest defence and engineering groups for commercial and defence organisations across multiple industries.[http://asia.nikkei.com/Company/05HWJT-E Nikkei Asian Review: Singapore Technologies Engineering Ltd.]. The Nikkei. In Mar 2007, ST Engineering was ranked 19th in the aerospace & defence industry and 1,661th of 2,000 of the world's largest public companies by Forbes.{{cite web | work = Forbes | title = The World's 2,000 Largest Public Companies | access-date = 2008-01-10 | year = 2007 | url = https://www.forbes.com/lists/2007/18/biz_07forbes2000_The-Global-2000_IndName.html}}
In 2018, the Group harmonised all brands by using "ST Engineering" as a Masterbrand{{Cite web |title=News - ST Engineering Adopts Masterbrand for its Subsidiaries to Drive Growth in Key Global Markets |url=https://www.stengg.com/news/masterbrand |website=www.stengg.com}} while in 2020, the Group reorganised as Commercial and Defence & Public Security clusters,{{Cite web |title=News - ST Engineering Reorganises for Global Growth and Success | ST Engineering |url=https://www.stengg.com/en/newsroom/news-releases/st-engineering-reorganises-for-global-growth-and-success/ |website=www.stengg.com}} replacing the sector-structure of Aerospace, Electronics, Land Systems and Marine.
Areas of business
ST Engineering has a diverse portfolio of businesses and a global network of subsidiaries and associated companies across Asia, Europe, the Middle East and the U.S.{{Cite web |title=About Us | ST Engineering |url=https://www.stengg.com/en/about/ |website=www.stengg.com}}
Its Commercial Aerospace arm is the world’s largest third-party airframe MRO solution provider and a Premier MRO for CFM LEAP engines.{{Cite web |title=EDB - ST Engineering expands airframe MRO capacity with new hangar facility in Singapore |url=https://www.edb.gov.sg/en/about-edb/media-releases-publications/st-engineering-expands-airframe-mro-capacity-with-new-hangar-facility-in-singapore.html |url-status=live |archive-url=https://www.edb.gov.sg/ |archive-date=23 September 2023 |website=www.edb.gov.sg}} The businesses support aircraft operations and OEM partners with aviation lifecycle solutions or holistic offerings for practically every stage of an aircraft's lifecycle.{{Cite web |title=Aerospace {{!}} ST Engineering |url=https://www.stengg.com/en/aerospace/aviation-lifecycle-solutions |url-status=live |archive-url= |archive-date= |website=www.stengg.com}}
In 2024, its Urban Solutions business was awarded a S$60m contract to design, build and operate a state-of-the-art smart city platform with citywide network connectivity for Lusail City, Qatar. Powered by AI, machine learning and data analytics, ST Engineering Urban Solution’s Agil Smart City Operating System will serve as the digital backbone of Lusail.{{Cite web |date=14 October 2024 |title=ST Engineering to provide smart city platform for Lusail City |url=https://www.smartcitiesworld.net/ai-and-machine-learning/st-engineering-to-provide-smart-city-platform-for-lusail-city/ |url-status=live |website=www.smartcitiesworld.net}}
ST Engineering is a major player in the defence and military industries. It was ranked Number 58 in the Stockholm International Peace Research Institute's list of the world's top 100 defence manufacturers in 2023. {{Cite web |title=The SIPRI Top 100 arms-producing and military services companies in the world, 2023 {{!}} SIPRI |url=https://www.sipri.org/visualizations/2024/sipri-top-100-arms-producing-and-military-services-companies-world-2023 |access-date=2024-12-31 |website=www.sipri.org |language=en}} Outside of Singapore, it has sold defence products to over 100 countries,{{Cite web |title=ST Engineering: Global Presence |url=http://www.stengg.com/about-us/global-presence |url-status=dead |archive-url=https://web.archive.org/web/20161228164815/http://www.stengg.com/about-us/global-presence |archive-date=28 December 2016}} including United States, United Kingdom, Indonesia, Philippines, United Arab Emirates, Brazil, Sweden, India, Thailand and Finland.Jaipragas, Bhavan. [https://sg.news.yahoo.com/singapore-gains-toehold-world-arms-industry-203019763.html Singapore gains toehold in world arms industry]. Yahoo! News. 19 March 2012. ST Engineering do not design, produce or sell anti-personnel mines, cluster munitions, white phosphorus munitions and its related key components.{{cite web|title=ST Engineering Sustainability Report|url=https://www.stengg.com/en/sustainability/sustainability-reports/sr2021/?page=12}}
On December 12, 2024, ST Engineering signed a strategic agreement with Kazakhstan Paramount Engineering to set up in-country production capability for a new 8x8 armored vehicle.{{Cite web |date=2024-12-11 |title=ST Engineering adds Terrex facility in Kazakhstan |url=https://asiapacificdefencereporter.com/st-engineering-adds-terrex-facility-in-kazakhstan/ |access-date=2025-02-13 |website=APDR |language=en-AU}}
ST Engineering expanded to the United States in 2001, locating its U.S. headquarters in Herndon, Virginia. It now operates in 52 cities across 21 states.{{Cite web |title=US Presence {{!}} ST Engineering |url=https://www.stengg.com/us |url-status=live |website=www.stengg.com}} It was known as VT Systems (VTS; formerly known as Vision Technologies Systems) until 1 July 2019, when VTS was changed to ST Engineering North America as part of the Group’s brand harmonization exercise in 2018.{{Cite web|url=https://www.stengg.com/en/newsroom/news-releases/vt-systems-changes-name-to-st-engineering-north-america-and-adopts-the-group-corporate-brand/|title=News - VT Systems Changes Name to ST Engineering North America and Adopts the Group Corporate brand | ST Engineering|website=www.stengg.com}}
Core capabilities
ST Engineering's businesses span across the aerospace, smart city, defence and public security sectors.
=Aerospace=
ST Engineering's Aerospace arm provides aviation asset management {{Cite web|url=https://www.stengg.com/aviation-asset-management|title=Aviation Asset Management - Aerospace | ST Engineering|website=www.stengg.com}} to commercial airlines, airfreight operators {{Cite web|url=https://www.stengg.com/aerostructures-and-systems|title=Aerostructures & Systems | ST Engineering|website=www.stengg.com}} and military operators.[https://www.sph.com.sg/system/assets/1290/Corporate%20profile%20(ST%20Engineering).pdf Corporate profile (ST Engineering)]. Singapore Press Holdings. It is the world's largest airframe maintenance, repair, and operations (MRO) company, and one of the few with in-house engineering design and development capabilities.Tegtmeier, Lee Ann. [http://www.aviationweek.com/Article.aspx?id=/article-xml/awx_06_26_2013_p0-591584.xml&p=1 "Aviation Week Ranks Biggest MRO"], 26 June 2013 On top of MRO capabilities,{{Cite web|url=https://www.stengg.com/aerospace-mro|title=Aerospace MRO - Aerospace | ST Engineering|website=www.stengg.com}} ST Engineering also has expertise as an OEM specialising in engine nacelle {{Cite web|url=https://www.stengg.com/nacelles|title=Nacelles Aerospace| ST Engineering|website=www.stengg.com}} and composite panels. It is the only company in the world offering Airbus freighter conversions {{Cite web|url=https://www.stengg.com/freighter-conversions|title=Freighter Conversions - Aerospace| ST Engineering|website=www.stengg.com}} using OEM data.
ST Engineering is a major investor in Skyports to provide drone services for Singapore’s Public Utilities Board.{{cite news |title=Singapore Trio Trials Shore-To-Ship Drones |url=https://aviationweek.com/shownews/singapore-airshow/singapore-trio-trials-shore-ship-drones |publisher=Aviation Week & Space Technology}}
=Smart City=
ST Engineering's capabilities for Smart City addresses the connectivity,{{Cite web|url=https://www.stengg.com/satellite-solutions|title=Satellite Solutions - Smart City | ST Engineering|website=www.stengg.com}} mobility,{{Cite web|url=https://www.stengg.com/smart-mobility|title=Smart Mobility - Smart City | ST Engineering|website=www.stengg.com}} security,{{Cite web|url=https://www.stengg.com/smart-security-automation|title=Smart Security and Automation - Smart City | ST Engineering|website=www.stengg.com}} infrastructure {{Cite web|url=https://www.stengg.com/smart-utilities-infrastructure|title=Smart Utilities and Infrastructure - Smart City | ST Engineering|website=www.stengg.com}} and environmental {{Cite web|url=https://www.stengg.com/urban-environment|title=Urban Environment Solutions - Smart City | ST Engineering|website=www.stengg.com}} needs of cities. Its products span over rail and road, autonomous and electric vehicles, mobility payment systems, building access and security systems, as well as IoT products for lighting, water and energy management.{{Cite web |title=Driving the Next Bound of Growth |url=https://www.stengg.com/media/1318048/st-engineering-investor-day-2021-presentation.pdf}}
In March 2022, ST Engineering completed its acquisition of Transcore to enhance its Smart City products through TransCore’s tolling and congestion pricing businesses.{{Cite web|url=https://www.stengg.com/en/newsroom/news-releases/st-engineering-completes-acquisition-of-transcore/|title=News - ST Engineering Completes Acquisition of TransCore | ST Engineering|website=www.stengg.com}}
=Defence & Public Security=
ST Engineering's defence business provides integrated defence technologies and critical systems spanning the digital,{{Cite web|url=https://www.stengg.com/en/digital-tech/|title=Digital Tech | ST Engineering|website=www.stengg.com}} air,{{Cite web|url=https://www.stengg.com/en/defence/air/|title=Air - Defence | ST Engineering|website=www.stengg.com}} land {{Cite web|url=https://www.stengg.com/en/defence/land/|title=Land - Defence | ST Engineering|website=www.stengg.com}} and sea {{Cite web|url=https://www.stengg.com/en/defence/sea/|title=Sea - Defence | ST Engineering|website=www.stengg.com}} domains. It has over four decades of activity in the development of military technology, from aircraft and avionics upgrades, to designing and building battlefield mobility platforms, soldier systems, ammunition and naval vessels.
Its capabilities in Public Security cover critical infrastructure,{{Cite web|url=https://www.stengg.com/critical-infrastructure|title=Critical Infrastructure - Public Security | ST Engineering|website=www.stengg.com}} intelligence operations,{{Cite web|url=https://www.stengg.com/smart-facilities|title=Smart Facilities Singapore | ST Engineering|website=www.stengg.com}} homeland security applications {{Cite web|url=https://www.stengg.com/homeland-security|title=Homeland Security - Public Security | ST Engineering|website=www.stengg.com}} and maritime system,{{Cite web|url=https://www.stengg.com/en/marine/|title=ST Engineering | Marine|website=www.stengg.com}} which have been implemented in more than 100 cities worldwide.
Corruption for ship-repair contracts
In 2014, ST Engineering and its subsidiaries ST Engineering Marine and ST Engineering Aerospace were hit by one of the largest corruption scandals in Singapore history following investigations by the Corrupt Practices Investigation Bureau.Ng Huiwen. [http://www.straitstimes.com/singapore/courts-crime/former-st-marine-president-given-short-detention-order-corruption-charges Former ST Marine president given short detention order, corruption charges withdrawn]. The Straits Times. 5 January 2017.Hussain, Amir. [http://www.straitstimes.com/singapore/courts-crime/graft-scandal-ex-st-marine-ceo-jailed-10-months-fined Graft scandal: Ex-ST Marine CEO jailed 10 months, fined]. The Straits Times. 3 December 2016.
In December 2014, former ST Engineering Marine and ST Engineering Aerospace president, Chang Cheow Teck, was charged with conspiring with two subordinates to offer bribes in return for ship-repair contracts between 2004 and 2010.Huang, Claire. [http://www.businesstimes.com.sg/companies-markets/former-president-of-st-marine-charged-along-with-two-ex-employees Former president of ST Marine charged, along with two ex-employees]. The Business Times. 12 December 2014. The corruption charges were eventually withdrawn and in January 2017, Chang pleaded guilty to "failing to use reasonable diligence in performing his duties" and was given a short detention order of 14 days. Former ST Marine CEO and president See Leong Teck was also charged with seven counts of corruption. In December 2016, See was sentenced to 10 months' jail and a $100,000 fine.
Since then, six other former ST Engineering Marine senior executives were implicated in the corruption scandal, including former financial controller and senior vice-president of finance Ong Tek Liam who pleaded guilty to ten out of 118 charges in relating to the falsification of accounts,Chelvan, Venessa Paige. [http://www.channelnewsasia.com/news/singapore/former-st-marine/2530342.html Former ST Marine financial controller pleads guilty in corruption case]. Channel NewsAsia. 19 February 2016. former senior vice-president Mok Kim Whang who pleaded guilty to 49 out of 826 corruption charges,Leong, Grace. [http://www.straitstimes.com/business/companies-markets/two-ex-st-marine-execs-plead-guilty-to-bribery-making-false-expense Two ex-ST Marine execs plead guilty to bribery, making false expense claims]. The Straits Times. 27 August 2016. ex-chief operating officer Han Yew Kwang who pleaded guilty to 50 out of 407 charges and was sentenced to six months' jail and fined $80,000,Hussain, Amir. [http://www.straitstimes.com/singapore/courts-crime/former-st-marine-exec-in-graft-scandal-gets-6-months-jail-80k-fine Former ST Marine exec in graft scandal gets 6 months' jail, $80k fine]. The Straits Times. 31 August 2016. former president of commercial business Tan Mong Seng who faced 445 corruption chargesMalinda, Kyle. [http://www.channelnewsasia.com/news/singapore/two-more-former-st-marine/1952470.html Two more former ST Marine senior executives charged for corruption]. Channel NewsAsia. 1 July 2015. and was sentenced to 16 weeks' jail,Chong, Elena. [http://www.straitstimes.com/singapore/courts-crime/st-marine-graft-case-ex-exec-sentenced-to-16-weeks-jail ST Marine graft case: Ex-exec sentenced to 16 weeks' jail]. The Straits Times. 7 April 2017. and ex-financial controller Patrick Lee Swee Ching who pled guilty to seven of 38 charges of conspiring with others between 2004 and 2007 to make false entries in petty cash vouchers, and was given the maximum fine of $210,000.Chong, Elena. [http://www.straitstimes.com/singapore/courts-crime/ex-st-marine-exec-fined-210k-in-graft-case Ex-ST Marine exec fined $210k in graft case]. The Straits Times. 2 July 2015.
In June 2017, Ong Teck Liam was sentenced to a fine of SGD300,000 ($217,200), in default 30 weeks’ imprisonment. Ong was the last to be sentenced. {{Cite web |date=2017-06-06 |title=Last of seven former ST Marine executive involved in corruption is sentenced |url=https://www.seatrade-maritime.com/asia/last-seven-former-st-marine-executive-involved-corruption-sentenced |access-date=2022-05-25 |website=Seatrade Maritime |language=en}}{{Cite web |title=SINGAPORE TECHNOLOGIES ENGINEERING LTD : 05-Jun-2017 |url=https://links.sgx.com/1.0.0/corporate-announcements/5TCYKNF5F4EEMA3R/aab5060ccec498ddbcbcd6ecf1831ecd0da71a63b68ce21a29e0fbfeb67a37d4 |access-date=2022-05-25 |website=links.sgx.com}}
References
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Category:1967 establishments in Singapore
Category:Engineering companies of Singapore
Category:Multinational companies headquartered in Singapore
Category:Companies listed on the Singapore Exchange
Category:Companies in the Straits Times Index