New Lightweight Howitzer for the SAF

Singapore Technologies Engineering, SINGAPORE: Singapore Technologies Engineering Ltd (ST Engineering) today announced that a new lightweight field howitzer developed by its land systems arm, Singapore Technologies Kinetics (ST Kinetics), has been commissioned into service with the Singapore Artillery.  
 
The 155mm 39 calibre self propelled howitzer named Singapore Light Weight Howitzer (SLWH) Pegasus by the Singapore Armed Forces (SAF), is the product of a tripartite developmental effort between the SAF, Defence Science and Technology Agency and ST Kinetics.  
 
ST Kinetics has entered into a confidentiality undertaking with its customer, the Ministry of Defence, and is unable to disclose further details of the contract. This contract was awarded to ST Kinetics in 1996 before ST Engineering was formed and prior to the restructure of ST Kinetics under ST Engineering. This announcement is not a disclosure of a new contract as the contract value had been recognised in the order book of ST Engineering and some revenue recognition has already taken place.  
 
As this announcement does not amount to a material change, we do not expect any material impact on the consolidated net tangible assets per share and earnings per share of ST Engineering for the current financial year.  
 
“The Pegasus is testimony to ST Kinetics' capability to design and develop highly complex solutions for its customers. Its innovative design combines unprecedented mobility with enhanced lethality, capability and performance for its users. We are proud to deliver yet another product that meets the exacting needs of the Singapore Army,” said Wu Tzu Chien, President, ST Kinetics  
 
ST Kinetics is the land systems arm of ST Engineering. It provides integrated systems, specialty vehicles and their related services for defence, government and commercial applications. This includes design and development, systems integration, production, operations & support and life cycle management.  
 
ST Engineering is an integrated engineering group providing solutions and services in the aerospace, electronics, land systems and marine sectors. Headquartered in Singapore, the Group reported revenues of S$2.95 billion in FY2004. ST Engineering has 12,000 employees worldwide, and over 100 subsidiaries and associated companies in 15 countries and 22 cities.