ST Engineering hits the jackpot with Jurong Lake District projects

It has secured almost half of all pilot and trial projects.

ST Engineering might see an influx of financially significant new projects thanks to Singapore's Smart Nation initiative.

RHB Research noted that the company has already secured seven out of 15 trials that are currently being implemented in the Jurong Lake District, a new growth area that is slated to be the largest commercial and regional centre outside the city centre when fully developed.

Although there is very limited financial information available regarding ST Engineering's pilot projects, RHB believes that the company's dominance in Jurong Lake District will have a positive impact in its future order book.

"While very limited financial information has been disclosed about the ongoing pilot projects being undertaken by ST Engineering at Jurong Lake District, we believe the successful implementation of these projects could translate into significant order inflows for the company’s electronics division,” said the report.
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