ST Engineering bags S$880m contract
The commission to build four patrol vessels for the Royal Navy of Oman is STE's largest contract in years.
According to the research from Maybank Kim Eng, ST Engineering (STE) has bagged its largest contract in recent years – S$880m for four patrol vessels.
This large contract win confirms that STE’s reputation as a defence engineering specialist remains untarnished by its alleged involvement in a bribery scandal in India.
STE also has a record of healthy dividend payouts which Maybank Kim Eng believes will support its share price based on its attractive yield of 5%.