ST Engineering to thrive amidst Singapore's Smart Nation initiative

It is poised to clinch $2.5b worth of deals this year.

As Singapore realises its Smart Nation dreams, ST Engineering is expected to benefit from it the most.

"Electronics could be the star in the era of smart nation and focus on infocom technology (ICT) and cyber security," a report from CIMB noted.

The brokerage firm noted that ST Engineering could clinch $2.5b worth of electronics contracts this year, following a strong 2016 with $2.3b worth of contracts signed. Around $1.6bn of the said contracts were from the advanced electronics ICT segment.

"Order momentum could continue in 2017 as it is in a structural sweet spot of heightened demand for data analytics, machine-to-machine communications and urbanisation trend.