Singapore Technologies Remains Profitable, Despite Growth Concerns

Background

Singapore Technologies Engineering Limited is a Singapore software and engineering conglomerate with a major focus on the electronics and aerospace sectors.

Via a subsidiary, it has the largest mechanical airframe maintenance, repair and overhaul (MRO) operations for commercial aircraft in the world.

Business operations are conducted in 20 separate countries.

Business Description

The group’s biggest division, which accounts for a bit more than 1/3 of sales, is the aerospace division that maintains airframes for airlines worldwide. Air frames refer to the mechanical engineering areas of the plane.

The electronics division, which makes up about 28% of revenue, is largely focused on projects related to e-government initiatives in the Asian region, ranging from rail and intelligent transportation systems to cybersecurity and satellites.

The Land systems division, producing one-fifth of sales, provides engineering related to specialty vehicles and support for government defense and homeland security, as well as commercial applications in the mining and construction sectors.

The rest of the company’s business is mainly centered around engineering for ship repairs and conversions in both the public and private sector. The company also owns and operates a shipyard.

Leadership

Chairman Kwa Chong Seng, 70, has served since 2013 in his present position. He has more than 40 years of experience in the petroleum industry.

He served as Chairman and Managing Director of ExxonMobil Asia Pacific before retiring in 2011. Chong Seng is currently the Chairman of Singapore Exchange Limited and Deputy Chairman of Public Service Commission, Singapore. He also serves on the board of SeaTown Holdings and is a member of the Defence Science & Technology Agency (DSTA).

He graduated from the former University of Singapore with a Mechanical Engineering degree. Chong Seng was awarded the Distinguished Engineering Alumni Award by the National University of Singapore (NUS) in 1994 and is a Fellow of the Academy of Engineering Singapore.