Someone's extra happy with the proposed rail network expansion

ST Electronics to be well poised to benefit from Singapore’s push for rail network expansion.

Here's more from Maybank Kim Eng:

Beneficiary of rail network expansion. The recent push by the government to improve Singapore’s rail transport network, topped off with the announcement of the Thomson Line MRT project, would serve to benefit ST Electronics through its MRT-related contract capabilities.

Although the Thomson Line is only slated for completion within a longer 8-10 year horizon, this provides earnings visibility in terms of ST Electronics’ project pipeline continuing on from the current Downtown line works which comes on-line in stages from 2013-2017.

Based on its recent contract wins and an illustration of its comprehensive suite of MRT-related capabilities, we believe ST Electronics to be well poised to benefit from Singapore’s push for rail network expansion. Add to that its significant competitive dvantages in the market which we detail on the following page, ST Electronics should prove to be one of the ST group’s more stable earnings contributors.

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