ST Electronics Awarded $10 Million to Secure Singapore Subway

ST Engineering announced that its electronics arm, ST Electronics, has won a contract worth about US$10 million by Changchun Bombardier Railway Vehicles (CBRC), a joint venture of Bombardier and China CNR. The contract is to provide Passenger Information Systems (PIS) for the Singapore Downtown Line (DTL) metro vehicles, a project awarded to Bombardier' by the Land Transport Authority of Singapore.

This contract is not expected to have any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.

The PIS will be installed in 73 trains or a total of 219 cars and will provide comprehensive real-time audio and multimedia information to passengers via its public announcement, LED and LCD subsystems to enhance the passenger travel experience on the MRT. Work on the project commences immediately and will be completed by second half of 2015.

ST Electronics will design, manufacture and commission the PIS for the Singapore Downtown MRT Line with contribution from its wholly owned subsidiary in Shanghai, China. In 2008, ST Electronics was awarded a contract to provide a Communications System for Downtown Lines 1, 2 and 3 which will be delivered by 2016.

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