News

Building & Engineering

Staff Reporter

, Singapore

Published:

3 years ago

354 views

/ST Engineering

After tolling system contracts, ST Engineering to post 14-17% profit growth

Its strong order book will raise the firm’s earnings growth.

With its new tolling system contracts in the US, RHB said ST Engineering will see an increased profit at 14-17% in 2023 to 2024.

Its order book will also make its outlook “solid and defensive.” Which is why RHB maintained its buy call for the firm, with a target price of $4.15.

Its latest order backlog was at $23.1b, which excludes orders from recently sold US marine business. This provides over two years of revenue visibility.

“We estimate that STE could continue to pay a minimum of 4 cents per quarter of DPS (ie 16 cents of annual DPS) during the forecast period, implying a healthy yield of c.4%,” RHB also said in its report.

High ESG score

Amidst claims of greenwashing, RHB said ST Engineering has “superior” green goals metrics.

The firm has an ESG score of 3.40, which is above Singapore’s median score of 3%.

“We attribute an 8% ESG premium to the fair value of $3.85,” said RHB.

Follow the link for more news on

ST Engineering

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia

Top News

Freight services prices jump 4.5% in Q1 on pricier oil and supply disruptions

Accounting services, cargo, and warehouse storage prices all rose.

Economy

2 hours ago

URA offers two residential sites for sale in Lorong Puntong and Kitchener Link

The Lorong Puntong/ Sin Ming Avenue site's tender closes in September.

Residential Property

2 hours ago

Condo resale prices rise 1.3% in May as volumes drop 9%

May resale activity stayed at 15.4%, below the 5-year average even as prices increased.

Residential Property

2 hours ago

VICOM names Chung Tying Chun as CEO from January 2027

He succeeds Sim Wing Yew, who retires after 14 years of service.

Transport & Logistics

2 hours ago

Exclusives

Tsuklio targets dual-income families in Singapore expansion

The Japanese meal subscription platform logged 3,000 pre-registrations before launch.

Food & Beverage

23 hours ago

Firms cut senior hiring costs with fractional executives

$Firms cut senior hiring costs with fractional executives$

Firms cut senior hiring costs with fractional executives

Companies report 50% to 70% lower costs than full-time senior hires.

HR & Education

1 day ago

Choosier Asia buyers steer auctions toward rare art

Collectors are bidding harder for works with clear ownership histories.

2 days ago

Big-ticket deals lift Singapore M&A as volumes fall

Private equity and AI infrastructure drive record deal concentration.

Event News

Co-Written / Partner Finweek KL 2026: Where European capital meets ASEAN scale

The premier EU–ASEAN institutional fintech summit brings 1,000+ delegates to PARKROYAL Collection Kuala Lumpur on 11 to 13 November 2026 for three days of cross-border deal-making.