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Latest Forum Topics / ST Engineering    Last:11.07    -0.2  Post Reply
ST Engg
investshare
Supreme
08-Jul-2025 12:41     
 
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 Alert Admin 		When I told u guys it will hit $9 this year many months ago, many do not believe.
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MrBear12
Supreme
08-Jul-2025 12:05     
 
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Yells: "Cast all our anxieties on Jesus for He cares for us"
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 Alert Admin 		10 dollars soon.

Trade in tenners
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sfw2124
Senior
29-Jun-2025 17:21     
 
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 Alert Admin 		Just to elaborate on this :" Meanwhile, the group& rsquo s record orderbook of $29.8 billion offers around 2.6 years of forward revenue coverage, notes the analyst.
Importantly, the current orderbook excludes the US$1.73 billion New Jersey E-ZPass services contract, which has yet to be added, pending the resolution of a competitor& rsquo s appeal. Quote " The US$1.73 billion New Jersey E-ZPass contract could significantly boost ST Engineering&rsquo s revenue for several reasons:
1. Large, Multi-Year Revenue Stream
  • Contract Value: At US$1.73 billion (over S$2.3 billion), this is one of the largest single contracts ever secured by ST Engineering&rsquo s subsidiary, TransCore[1][2].
  • Duration: The contract spans 10&ndash 12 years, covering the design, installation, operation, and maintenance of tolling systems for some of the busiest toll roads in the US[3][2].
  • Annual Revenue Impact: Analyst estimates and management commentary suggest revenue from these projects could exceed S$200 million annually, more than doubling to over S$400 million per year by 2028 as the project ramps up[4].
2. Visibility and Order Book Enhancement
  • Order Book Addition: Once the contract is officially added (pending resolution of a competitor&rsquo s appeal), it will be included in ST Engineering&rsquo s order book, which already stands at S$29.8 billion[5].
  • Forward Revenue Coverage: The addition of this contract will further extend the company&rsquo s forward revenue visibility, supporting 2.6 years or more of projected revenue[5].
3. Higher Margin, Value-Added Solutions
  • Integrated Technology: The contract involves advanced tolling technology (automatic vehicle identification, video capture, digital audit systems), positioning TransCore as a Tier-1 prime contractor and allowing for higher-margin work[3][2].
  • Operational Leverage: As ST Engineering moves up the value chain with such turnkey projects, it can command better margins and set contractual terms[4].
4. US Market and Strategic Positioning
  • Reputation and Market Share: Winning a high-profile, statewide contract in New Jersey cements TransCore&rsquo s reputation in the US tolling market, potentially leading to more large-scale contracts in North America[1].
  • Hiring and Local Investment: The contract includes commitments to hire hundreds of employees and open new customer service centers, deepening ST Engineering&rsquo s US footprint[1].
5. Catalysts for Growth and Earnings
  • Not Yet Priced In: The contract is not yet included in current revenue or order book figures, so its confirmation and ramp-up would be a new catalyst for upward revisions in analyst forecasts and potentially share price[5][4].
  • Potential for Upside: If the contract is executed efficiently, it could drive higher-than-expected revenue and profit growth, narrowing the gap between conservative analyst projections and management&rsquo s more optimistic guidance[5].
Summary Table: Why the US$1.73b NJ Contract Matters
Reason Impact
Large contract value Significant revenue stream over a decade
Multi-year duration Recurring, predictable income
Advanced technology Higher margins, operational leverage
US market credibility Opens doors for future contracts
Not yet in order book Fresh catalyst for growth and share price
 
 
In conclusion:
The US$1.73 billion New Jersey contract, once added to ST Engineering&rsquo s order book, will provide a substantial, recurring revenue stream, enhance earnings visibility, support margin expansion, and act as a catalyst for future growth in the US market&mdash all of which can significantly boost the company&rsquo s revenue and potentially its share price[3][4][1][5][2]." Unquote DYODD
⁂
  1. https://www.cittimagazine.co.uk/news/road-user-charging-tolling/new-jersey-turnpike-authority-confirms-transcore-to-upgrade-e-zpass-services-in-us1-73bn-deal.html     
  2. https://www.stengg.com/en/newsroom/news-releases/transcore-secures-contracts-to-modernise-toll-collection-systems-in-new-jersey/     
  3. https://www.businesstimes.com.sg/companies-markets/mobile-spotlight/st-engineering-unit-wins-contracts-worth-s15b-modernise-new   
  4. https://in.marketscreener.com/quote/stock/SINGAPORE-TECHNOLOGIES-EN-6491153/news/Singapore-Technologies-Engineering-ST-Engineering-1Q2025-Market-Updates-49890774/     
  5. https://www.sharejunction.com/sharejunction/listMessage.htm?topicId=2005& msgbdName=ST+Engineering& topicTitle=ST+Engg       


sfw2124      ( Date: 29-Jun-2025 16:47) Posted:

RHB Bank Singapore (RHB) analyst Shekhar Jaiswal has kept his & ldquo buy& rdquo call on Singapore Technologies Engineering (ST Engineering) at a lowered target price (TP) of $8.65 from $8.90 previously.
On the group& rsquo s divestment of construction equipment subsidiary LeeBoy for US$290 million ($369 million), Jaiswal notes that the deal has a small earnings impact, and proceeds of US$246 million will be used to reduce debt.
LeeBoy, previously under ST Engineering& rsquo s defence and public security (DPS) segment, had a FY2024 revenue of $326.3 million, earrings before interests and taxes (ebit) of $37.2 million, a profit before tax (PBT) of $33.8 million and a book value of $200.9 million.
Jaiswal writes: & ldquo The transaction, part of ST Engineering& rsquo s ongoing portfolio rationalisation and marking its exit from the construction equipment business, is expected to close in 4QFY2025.& rdquo
The deal will deliver an after-tax gain of $100 million and raise FY2024 profit by 10.5% on a pro-forma basis.
& ldquo We maintain our FY2025 recurring profit estimate as the gains would be one-off. We trim FY2026- FY2027 earnings by 2% per annum (p.a.), reflecting the loss of earnings from LeeBoy, partially offset by the reduction in interest expenses,& rdquo writes Jaiswal.
Meanwhile, the group& rsquo s record orderbook of $29.8 billion offers around 2.6 years of forward revenue coverage, notes the analyst.
Importantly, the current orderbook excludes the US$1.73 billion New Jersey E-ZPass services contract, which has yet to be added, pending the resolution of a competitor& rsquo s appeal.
With this, Jaiswal& rsquo s FY2029 forecasts are more conservative than ST Engineering& rsquo s guidance of an 8.6% revenue compound annual growth rate (CAGR) and up to a 13.6% profit CAGR for the FY2024 to FY2029.
However, three catalysts could narrow this gap, he notes.
These include stronger-than-expected performance in the group& rsquo s international defence segment, the transition of ST Engineering& rsquo s aviation asset management business to a fund structure and lastly, potential merger and acquisitions (M& A).
On the other hand, downside risks include a slower revival in the commercial aerospace (CA) sector, lower margins from higher costs caused by supply chain issues, delays in the delivery of orders and lower-than-expected contributions from acquisitions." Unquote
The RHB analyst report on ST Engineering (STE) is well-supported by recent developments and aligns with consensus views. Here&rsquo s a detailed validation and commentary:
Validation of Key Points
1. LeeBoy Divestment
  • Deal Details: STE is selling its US-based construction equipment subsidiary, LeeBoy, for US$290 million (S$369 million). Net proceeds of about US$246 million will be used to reduce debt, saving approximately S$9 million in annual interest expense[1][2][3].
  • Financial Impact: LeeBoy contributed S$33.8 million in net profit and S$326.3 million in revenue in FY2024[1][2]. The disposal will result in a one-off after-tax gain of about S$100 million, raising FY2024 profit by 10.5% on a pro-forma basis[1][2][4].
  • Strategic Rationale: This is the last of STE&rsquo s construction equipment businesses, marking a clean exit from non-core operations and aligning with its ongoing portfolio rationalisation strategy[5][2][3].
2. Earnings and Forecasts
  • Earnings Adjustment: The analyst notes that recurring profit estimates for FY2025 are unchanged, as the gain is one-off. FY2026&ndash 2027 earnings are trimmed by 2% p.a. to reflect the loss of LeeBoy&rsquo s recurring earnings, partially offset by lower interest expense[6][4].
  • Orderbook Strength: STE&rsquo s orderbook stands at S$29.8 billion, covering about 2.6 years of forward revenue. This excludes the US$1.73 billion New Jersey E-ZPass contract, which could be a future catalyst[6][7].
3. Growth Catalysts and Risks
  • Catalysts: Upside could come from stronger international defence performance, the aviation asset management business moving to a fund structure, and potential M& A activity.
  • Risks: Downside risks include a slower recovery in commercial aerospace, supply chain cost pressures, order delivery delays, and underperformance from acquisitions.
4. Target Price and Valuation
  • Target Price: The target price is lowered slightly to S$8.65 (from S$8.90), reflecting the modest earnings impact from the divestment and a conservative stance on growth forecasts.
  • Valuation: The stock closed at S$7.83 after the announcement, suggesting about 10% upside to the revised target price[1][2][6].
Commentary
Positive Takeaways
  • Portfolio Focus: The divestment of LeeBoy is strategically sound, allowing STE to focus on higher-growth and higher-margin core segments (defence, aerospace, urban solutions)[5][4].
  • Balance Sheet Strengthening: Proceeds will reduce debt, improve financial flexibility, and help manage interest costs in a higher-rate environment[1][3].
  • Orderbook Visibility: The robust orderbook provides multi-year revenue and earnings visibility, supporting dividend sustainability and future growth.
Balanced Outlook
  • One-Off Gain: The profit boost from the sale is non-recurring, so long-term earnings growth will depend on core business execution and new contract wins.
  • Growth Moderation: The analyst&rsquo s more conservative forecasts versus management guidance are prudent, given macro uncertainties and the time needed to realise new growth drivers.
  • Valuation: At current levels, STE remains attractive for long-term investors seeking stability, a progressive dividend, and exposure to defence and infrastructure themes.
Risks to Watch
  • Execution: Realising upside from new defence contracts, asset management, and M& A will require strong execution and integration.
  • Sector Cyclicality: Commercial aerospace recovery and supply chain normalization are not guaranteed and could impact margins and growth.
Conclusion
The analyst&rsquo s &ldquo Buy&rdquo call with a slightly lowered target price is justified by STE&rsquo s strategic divestment, strong orderbook, and focused growth strategy. While the LeeBoy sale has a limited recurring earnings impact, it strengthens STE&rsquo s balance sheet and positions the group for higher-quality growth. The outlook remains positive, but investors should watch for execution risks and sector headwinds.[1][5][2][6][3][4]
⁂
  1. https://www.businesstimes.com.sg/companies-markets/st-engineering-divests-entire-equity-interest-us-based-construction-player-leeboy-us290-million         
  2. https://www.businesstimes.com.sg/companies-markets/st-engineering-divests-entire-equity-interest-us-based-construction-manufacturer-leeboy-us290         
  3. https://sbr.com.sg/building-engineering/news/st-engineering-divests-us-based-unit-371m     
  4. https://www.morningstar.com/company-reports/1300403-st-engineering-sale-of-leeboy-in-line-with-strategy-positive-to-valuation     
  5. https://www.theedgesingapore.com/capital/brokers-calls/divestment-fund-st-engineerings-de-leveraging-and-rationalise-portfolio-citi   
  6. https://www.sharejunction.com/sharejunction/listMessage.htm?topicId=2005& msgbdName=ST+Engineering& topicTitle=ST+Engg     
  7. https://www.businesstimes.com.sg/companies-markets/stocks-watch-sembcorp-industries-st-engineering-frasers-centrepoint-trust


Joelton      ( Date: 28-Jun-2025 13:20) Posted:

RHB maintains &lsquo buy&rsquo call on ST Engineering at lowered TP of $8.65
 
RHB Bank Singapore (RHB) analyst Shekhar Jaiswal has kept his &ldquo buy&rdquo call on Singapore Technologies Engineering (ST Engineering) at a lowered target price (TP) of $8.65 from $8.90 previously.
 
On the group&rsquo s divestment of construction equipment subsidiary LeeBoy for US$290 million ($369 million), Jaiswal notes that the deal has a small earnings impact, and proceeds of US$246 million will be used to reduce debt.
 
LeeBoy, previously under ST Engineering&rsquo s defence and public security (DPS) segment, had a FY2024 revenue of $326.3 million, earrings before interests and taxes (ebit) of $37.2 million, a profit before tax (PBT) of $33.8 million and a book value of $200.9 million.
 
Jaiswal writes: &ldquo The transaction, part of ST Engineering&rsquo s ongoing portfolio rationalisation and marking its exit from the construction equipment business, is expected to close in 4QFY2025.&rdquo
 
The deal will deliver an after-tax gain of $100 million and raise FY2024 profit by 10.5% on a pro-forma basis.
 
&ldquo We maintain our FY2025 recurring profit estimate as the gains would be one-off. We trim FY2026- FY2027 earnings by 2% per annum (p.a.), reflecting the loss of earnings from LeeBoy, partially offset by the reduction in interest expenses,&rdquo writes Jaiswal.
 
Meanwhile, the group&rsquo s record orderbook of $29.8 billion offers around 2.6 years of forward revenue coverage, notes the analyst.
 
Importantly, the current orderbook excludes the US$1.73 billion New Jersey E-ZPass services contract, which has yet to be added, pending the resolution of a competitor&rsquo s appeal.
 
With this, Jaiswal&rsquo s FY2029 forecasts are more conservative than ST Engineering&rsquo s guidance of an 8.6% revenue compound annual growth rate (CAGR) and up to a 13.6% profit CAGR for the FY2024 to FY2029.
 
However, three catalysts could narrow this gap, he notes.
 
These include stronger-than-expected performance in the group&rsquo s international defence segment, the transition of ST Engineering&rsquo s aviation asset management business to a fund structure and lastly, potential merger and acquisitions (M& A).
 
On the other hand, downside risks include a slower revival in the commercial aerospace (CA) sector, lower margins from higher costs caused by supply chain issues, delays in the delivery of orders and lower-than-expected contributions from acquisitions.
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sfw2124
Senior
29-Jun-2025 16:47     
 
sfw2124 About Contact  Quote this Post!  
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 Alert Admin 		RHB Bank Singapore (RHB) analyst Shekhar Jaiswal has kept his & ldquo buy& rdquo call on Singapore Technologies Engineering (ST Engineering) at a lowered target price (TP) of $8.65 from $8.90 previously.
On the group& rsquo s divestment of construction equipment subsidiary LeeBoy for US$290 million ($369 million), Jaiswal notes that the deal has a small earnings impact, and proceeds of US$246 million will be used to reduce debt.
LeeBoy, previously under ST Engineering& rsquo s defence and public security (DPS) segment, had a FY2024 revenue of $326.3 million, earrings before interests and taxes (ebit) of $37.2 million, a profit before tax (PBT) of $33.8 million and a book value of $200.9 million.
Jaiswal writes: & ldquo The transaction, part of ST Engineering& rsquo s ongoing portfolio rationalisation and marking its exit from the construction equipment business, is expected to close in 4QFY2025.& rdquo
The deal will deliver an after-tax gain of $100 million and raise FY2024 profit by 10.5% on a pro-forma basis.
& ldquo We maintain our FY2025 recurring profit estimate as the gains would be one-off. We trim FY2026- FY2027 earnings by 2% per annum (p.a.), reflecting the loss of earnings from LeeBoy, partially offset by the reduction in interest expenses,& rdquo writes Jaiswal.
Meanwhile, the group& rsquo s record orderbook of $29.8 billion offers around 2.6 years of forward revenue coverage, notes the analyst.
Importantly, the current orderbook excludes the US$1.73 billion New Jersey E-ZPass services contract, which has yet to be added, pending the resolution of a competitor& rsquo s appeal.
With this, Jaiswal& rsquo s FY2029 forecasts are more conservative than ST Engineering& rsquo s guidance of an 8.6% revenue compound annual growth rate (CAGR) and up to a 13.6% profit CAGR for the FY2024 to FY2029.
However, three catalysts could narrow this gap, he notes.
These include stronger-than-expected performance in the group& rsquo s international defence segment, the transition of ST Engineering& rsquo s aviation asset management business to a fund structure and lastly, potential merger and acquisitions (M& A).
On the other hand, downside risks include a slower revival in the commercial aerospace (CA) sector, lower margins from higher costs caused by supply chain issues, delays in the delivery of orders and lower-than-expected contributions from acquisitions." Unquote
The RHB analyst report on ST Engineering (STE) is well-supported by recent developments and aligns with consensus views. Here&rsquo s a detailed validation and commentary:
Validation of Key Points
1. LeeBoy Divestment
  • Deal Details: STE is selling its US-based construction equipment subsidiary, LeeBoy, for US$290 million (S$369 million). Net proceeds of about US$246 million will be used to reduce debt, saving approximately S$9 million in annual interest expense[1][2][3].
  • Financial Impact: LeeBoy contributed S$33.8 million in net profit and S$326.3 million in revenue in FY2024[1][2]. The disposal will result in a one-off after-tax gain of about S$100 million, raising FY2024 profit by 10.5% on a pro-forma basis[1][2][4].
  • Strategic Rationale: This is the last of STE&rsquo s construction equipment businesses, marking a clean exit from non-core operations and aligning with its ongoing portfolio rationalisation strategy[5][2][3].
2. Earnings and Forecasts
  • Earnings Adjustment: The analyst notes that recurring profit estimates for FY2025 are unchanged, as the gain is one-off. FY2026&ndash 2027 earnings are trimmed by 2% p.a. to reflect the loss of LeeBoy&rsquo s recurring earnings, partially offset by lower interest expense[6][4].
  • Orderbook Strength: STE&rsquo s orderbook stands at S$29.8 billion, covering about 2.6 years of forward revenue. This excludes the US$1.73 billion New Jersey E-ZPass contract, which could be a future catalyst[6][7].
3. Growth Catalysts and Risks
  • Catalysts: Upside could come from stronger international defence performance, the aviation asset management business moving to a fund structure, and potential M& A activity.
  • Risks: Downside risks include a slower recovery in commercial aerospace, supply chain cost pressures, order delivery delays, and underperformance from acquisitions.
4. Target Price and Valuation
  • Target Price: The target price is lowered slightly to S$8.65 (from S$8.90), reflecting the modest earnings impact from the divestment and a conservative stance on growth forecasts.
  • Valuation: The stock closed at S$7.83 after the announcement, suggesting about 10% upside to the revised target price[1][2][6].
Commentary
Positive Takeaways
  • Portfolio Focus: The divestment of LeeBoy is strategically sound, allowing STE to focus on higher-growth and higher-margin core segments (defence, aerospace, urban solutions)[5][4].
  • Balance Sheet Strengthening: Proceeds will reduce debt, improve financial flexibility, and help manage interest costs in a higher-rate environment[1][3].
  • Orderbook Visibility: The robust orderbook provides multi-year revenue and earnings visibility, supporting dividend sustainability and future growth.
Balanced Outlook
  • One-Off Gain: The profit boost from the sale is non-recurring, so long-term earnings growth will depend on core business execution and new contract wins.
  • Growth Moderation: The analyst&rsquo s more conservative forecasts versus management guidance are prudent, given macro uncertainties and the time needed to realise new growth drivers.
  • Valuation: At current levels, STE remains attractive for long-term investors seeking stability, a progressive dividend, and exposure to defence and infrastructure themes.
Risks to Watch
  • Execution: Realising upside from new defence contracts, asset management, and M& A will require strong execution and integration.
  • Sector Cyclicality: Commercial aerospace recovery and supply chain normalization are not guaranteed and could impact margins and growth.
Conclusion
The analyst&rsquo s &ldquo Buy&rdquo call with a slightly lowered target price is justified by STE&rsquo s strategic divestment, strong orderbook, and focused growth strategy. While the LeeBoy sale has a limited recurring earnings impact, it strengthens STE&rsquo s balance sheet and positions the group for higher-quality growth. The outlook remains positive, but investors should watch for execution risks and sector headwinds.[1][5][2][6][3][4]
⁂
  1. https://www.businesstimes.com.sg/companies-markets/st-engineering-divests-entire-equity-interest-us-based-construction-player-leeboy-us290-million         
  2. https://www.businesstimes.com.sg/companies-markets/st-engineering-divests-entire-equity-interest-us-based-construction-manufacturer-leeboy-us290         
  3. https://sbr.com.sg/building-engineering/news/st-engineering-divests-us-based-unit-371m     
  4. https://www.morningstar.com/company-reports/1300403-st-engineering-sale-of-leeboy-in-line-with-strategy-positive-to-valuation     
  5. https://www.theedgesingapore.com/capital/brokers-calls/divestment-fund-st-engineerings-de-leveraging-and-rationalise-portfolio-citi   
  6. https://www.sharejunction.com/sharejunction/listMessage.htm?topicId=2005& msgbdName=ST+Engineering& topicTitle=ST+Engg     
  7. https://www.businesstimes.com.sg/companies-markets/stocks-watch-sembcorp-industries-st-engineering-frasers-centrepoint-trust


Joelton      ( Date: 28-Jun-2025 13:20) Posted:

RHB maintains &lsquo buy&rsquo call on ST Engineering at lowered TP of $8.65
 
RHB Bank Singapore (RHB) analyst Shekhar Jaiswal has kept his &ldquo buy&rdquo call on Singapore Technologies Engineering (ST Engineering) at a lowered target price (TP) of $8.65 from $8.90 previously.
 
On the group&rsquo s divestment of construction equipment subsidiary LeeBoy for US$290 million ($369 million), Jaiswal notes that the deal has a small earnings impact, and proceeds of US$246 million will be used to reduce debt.
 
LeeBoy, previously under ST Engineering&rsquo s defence and public security (DPS) segment, had a FY2024 revenue of $326.3 million, earrings before interests and taxes (ebit) of $37.2 million, a profit before tax (PBT) of $33.8 million and a book value of $200.9 million.
 
Jaiswal writes: &ldquo The transaction, part of ST Engineering&rsquo s ongoing portfolio rationalisation and marking its exit from the construction equipment business, is expected to close in 4QFY2025.&rdquo
 
The deal will deliver an after-tax gain of $100 million and raise FY2024 profit by 10.5% on a pro-forma basis.
 
&ldquo We maintain our FY2025 recurring profit estimate as the gains would be one-off. We trim FY2026- FY2027 earnings by 2% per annum (p.a.), reflecting the loss of earnings from LeeBoy, partially offset by the reduction in interest expenses,&rdquo writes Jaiswal.
 
Meanwhile, the group&rsquo s record orderbook of $29.8 billion offers around 2.6 years of forward revenue coverage, notes the analyst.
 
Importantly, the current orderbook excludes the US$1.73 billion New Jersey E-ZPass services contract, which has yet to be added, pending the resolution of a competitor&rsquo s appeal.
 
With this, Jaiswal&rsquo s FY2029 forecasts are more conservative than ST Engineering&rsquo s guidance of an 8.6% revenue compound annual growth rate (CAGR) and up to a 13.6% profit CAGR for the FY2024 to FY2029.
 
However, three catalysts could narrow this gap, he notes.
 
These include stronger-than-expected performance in the group&rsquo s international defence segment, the transition of ST Engineering&rsquo s aviation asset management business to a fund structure and lastly, potential merger and acquisitions (M& A).
 
On the other hand, downside risks include a slower revival in the commercial aerospace (CA) sector, lower margins from higher costs caused by supply chain issues, delays in the delivery of orders and lower-than-expected contributions from acquisitions.
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Joelton
Supreme
28-Jun-2025 13:20     
 
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 Alert Admin
RHB maintains &lsquo buy&rsquo call on ST Engineering at lowered TP of $8.65
 
RHB Bank Singapore (RHB) analyst Shekhar Jaiswal has kept his &ldquo buy&rdquo call on Singapore Technologies Engineering (ST Engineering) at a lowered target price (TP) of $8.65 from $8.90 previously.
 
On the group&rsquo s divestment of construction equipment subsidiary LeeBoy for US$290 million ($369 million), Jaiswal notes that the deal has a small earnings impact, and proceeds of US$246 million will be used to reduce debt.
 
LeeBoy, previously under ST Engineering&rsquo s defence and public security (DPS) segment, had a FY2024 revenue of $326.3 million, earrings before interests and taxes (ebit) of $37.2 million, a profit before tax (PBT) of $33.8 million and a book value of $200.9 million.
 
Jaiswal writes: &ldquo The transaction, part of ST Engineering&rsquo s ongoing portfolio rationalisation and marking its exit from the construction equipment business, is expected to close in 4QFY2025.&rdquo
 
The deal will deliver an after-tax gain of $100 million and raise FY2024 profit by 10.5% on a pro-forma basis.
 
&ldquo We maintain our FY2025 recurring profit estimate as the gains would be one-off. We trim FY2026- FY2027 earnings by 2% per annum (p.a.), reflecting the loss of earnings from LeeBoy, partially offset by the reduction in interest expenses,&rdquo writes Jaiswal.
 
Meanwhile, the group&rsquo s record orderbook of $29.8 billion offers around 2.6 years of forward revenue coverage, notes the analyst.
 
Importantly, the current orderbook excludes the US$1.73 billion New Jersey E-ZPass services contract, which has yet to be added, pending the resolution of a competitor&rsquo s appeal.
 
With this, Jaiswal&rsquo s FY2029 forecasts are more conservative than ST Engineering&rsquo s guidance of an 8.6% revenue compound annual growth rate (CAGR) and up to a 13.6% profit CAGR for the FY2024 to FY2029.
 
However, three catalysts could narrow this gap, he notes.
 
These include stronger-than-expected performance in the group&rsquo s international defence segment, the transition of ST Engineering&rsquo s aviation asset management business to a fund structure and lastly, potential merger and acquisitions (M& A).
 
On the other hand, downside risks include a slower revival in the commercial aerospace (CA) sector, lower margins from higher costs caused by supply chain issues, delays in the delivery of orders and lower-than-expected contributions from acquisitions.
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Joelton
Supreme
26-Jun-2025 08:52     
 
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 Alert Admin
ST Engineering divests entire equity interest in US-based construction player LeeBoy for US$290 million
The transaction is expected to close in the fourth quarter of 2025
 
[SINGAPORE] Singapore Technologies Engineering (ST Engineering) : S63 +1.4% on Tuesday (Jun 24) announced that it will be selling its entire equity interest in ST Engineering LeeBoy, a US-based construction equipment manufacturer, for an estimated US$290 million. 
 
The net proceeds from the sale will amount to around US$246 million, and will be used for debt repayment, resulting in interest expense savings of about US$9 million.
 
In this deal, the buyer is privately held Fayat Group, which has a presence in the road equipment segment in the US through various businesses such as Dynapac and Asphalt Drum Mixers. 
 
The transaction is expected to close in the fourth quarter of 2025, though it is still subject to regulatory approvals and customary closing conditions. 
 
Based on ST Engineering&rsquo s audited accounts for the 2024 financial year, LeeBoy contributed S$33.8 million in net profit and S$326.3 million in revenue. The disposal is projected to result in a net gain of about S$100 million, after taxes and transaction expenses.
 
LeeBoy is the last of the company&rsquo s construction equipment businesses and is part of the group&rsquo s defence and public security segment. 
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spursfan
Supreme
25-Jun-2025 09:01     
 
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 Alert Admin 		PROPOSED DISPOSAL OF EQUITY INTERESTS IN ST ENGINEERING LEEBOY, INC. 

https://links.sgx.com/1.0.0/corporate-announcements/INVAH00U5OKR39H0/849740_20250624%20ST%20Engineering%20Chapter%2010%20Announcement%20vF.pdf
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dontbetray
Master
16-Jun-2025 13:42     
 
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 Alert Admin

Singapore&rsquo s Terrex May Replace Poland&rsquo s Rosomak APCs on Domestic Assembly Lines

Singapore?s Terrex May Replace Poland?s Rosomak APCs on Domestic Assembly Lines
Singapore Army Terrex armored personnel carrier. Photo credits: Singapore Army
News

 

Poland is considering the Singaporean Terrex armored personnel carrier as a potential replacement for its locally produced Rosomak APCs,  Defence24  reported.


During an official visit to Singapore, Polish President Andrzej Duda announced preliminary agreements on Warsaw&rsquo s involvement in developing a new wheeled armored personnel carrier for the Polish Armed Forces.

At the center of the discussions is the Terrex S5 &mdash the latest iteration of the Terrex APC developed by Singapore&rsquo s ST Engineering and introduced in 2024.
 


According to Duda, Poland is seeking a technological partnership, under which Polska Grupa Zbrojeniowa and WB Electronics could launch domestic production of the new vehicle, gradually phasing out the Rosomak, which is currently manufactured under license from Finnish firm Patria. Singapore Army Terrex armored personnel carrier. Photo credits: SelolovingSingapore Army Terrex armored personnel carrier. Photo credits: Seloloving

ST Engineering executives confirmed that Poland had expressed interest in co-producing the new combat vehicle, potentially replacing the Rosomak fleet. The company has over a decade of experience designing, manufacturing, and upgrading various armored platforms, including APCs.

The Terrex S5 is an eight-wheeled armored personnel carrier with a combat weight of 35&ndash 37 tonnes. It is designed for a two-person crew (driver and commander/gunner) and can transport up to 10&ndash 12 troops. Terrex armored personnel carrier of the Singapore Army. Photo credits: nighteyeTerrex armored personnel carrier of the Singapore Army. Photo credits: nighteye

Powered by a 711-horsepower Caterpillar diesel engine, the vehicle features a 7-speed automatic transmission with two reverse gears. It can reach speeds of up to 120 km/h and has an operational range of up to 1,000 km. A hybrid powertrain allows for silent movement over distances of up to 50 km.
 


Armor protection is rated STANAG 4569 Level 4, defending against 14.5 mm armor-piercing rounds. The platform also accommodates an active protection system (APS).

Militarnyi previously  reported  that Poland has ordered over 100 domestically produced Borsuk infantry fighting vehicles and is currently preparing production facilities to meet demand.
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wooncs8870
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12-Jun-2025 17:27     
 
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 Alert Admin 		Buy US stocks such as Globant and ANET as these 2 counters got the potential to multiply by at least 4 to 5 times in 5 to 10 years' time.
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dontbetray
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12-Jun-2025 13:43     
 
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 Alert Admin 		You are not wrong 

sooner they will rotate to US stock 

wooncs8870      ( Date: 12-Jun-2025 10:32) Posted:

Talking about overvalued shares, there are multiple shares that are overvalued a lot more than STE share.

dontbetray      ( Date: 12-Jun-2025 09:43) Posted:

unlikely , overvalue
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wooncs8870
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 Alert Admin 		Talking about overvalued shares, there are multiple shares that are overvalued a lot more than STE share.

dontbetray      ( Date: 12-Jun-2025 09:43) Posted:

unlikely , overvalued

wooncs8870      ( Date: 04-Jun-2025 08:47) Posted:

STE share price will hit $9.00 by JUly 2025
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dontbetray
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12-Jun-2025 09:43     
 
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 Alert Admin 		unlikely , overvalued

wooncs8870      ( Date: 04-Jun-2025 08:47) Posted:

STE share price will hit $9.00 by JUly 2025.

MrBear12      ( Date: 03-Jun-2025 17:21) Posted:

One day earlier.

Trade with early arriva
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wooncs8870
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12-Jun-2025 09:30     
 
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 Alert Admin 		STE share price will hit by July 2025 and not by year end. Let' s watch and see who predicted correctly

MrBear12      ( Date: 06-Jun-2025 09:33) Posted:

It may hit 9 at the end of the year.
But first today must conquer 8, otherwise will slip back towards 7.

Trade with today's results.

wooncs8870      ( Date: 04-Jun-2025 08:47) Posted:

STE share price will hit $9.00 by JUly 2025
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MrBear12
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06-Jun-2025 09:33     
 
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Yells: "Cast all our anxieties on Jesus for He cares for us"
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 Alert Admin 		It may hit 9 at the end of the year.
But first today must conquer 8, otherwise will slip back towards 7.

Trade with today's results.

wooncs8870      ( Date: 04-Jun-2025 08:47) Posted:

STE share price will hit $9.00 by JUly 2025.

MrBear12      ( Date: 03-Jun-2025 17:21) Posted:

One day earlier.

Trade with early arriva
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wooncs8870
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04-Jun-2025 08:47     
 
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 Alert Admin 		STE share price will hit $9.00 by JUly 2025.

MrBear12      ( Date: 03-Jun-2025 17:21) Posted:

One day earlier.

Trade with early arrival

wooncs8870      ( Date: 02-Jun-2025 14:57) Posted:

STE share price will hit $8 this Wednesday
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MrBear12
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03-Jun-2025 17:21     
 
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Yells: "Cast all our anxieties on Jesus for He cares for us"
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 Alert Admin 		One day earlier.

Trade with early arrival

wooncs8870      ( Date: 02-Jun-2025 14:57) Posted:

STE share price will hit $8 this Wednesday
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winwin888
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03-Jun-2025 16:04     
 
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 Alert Admin 		Very powerful
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wooncs8870
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03-Jun-2025 15:53     
 
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 Alert Admin 		STE share price may hit $8.05 by end of today
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wooncs8870
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03-Jun-2025 14:02     
 
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 Alert Admin 		SYE share price hits $8.02

wooncs8870      ( Date: 03-Jun-2025 11:57) Posted:

STE share looks like today might $8

wooncs8870      ( Date: 03-Jun-2025 10:14) Posted:

Because it will be unlikely to hit $8 and my guess is Wednesday is highly likely to achiev
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investshare
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03-Jun-2025 13:36     
 
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 Alert Admin 		I said many months ago it will hit $9 this year.
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