Confirmation of sale of UH-1H to Philipines:
ST Aero to Provide 20 UH-1Hs to the Philippines Air Force
(Source: ST Aerospace; issued Feb. 12, 2004)
SINGAPORE --- Singapore Technologies Aerospace (ST Aero), the
aerospace arm of Singapore Technologies Engineering (ST Engg),
announced today that it has been awarded a contract by the
Philippines Air Force to supply 20 refurbished UH-1H helicopters
with an integrated logistics package, worth US$12 million.
This agreement involves procurement and refurbishment within a
year.
This agreement is not expected to have any material impact on the
consolidated net tangible assets per share and earnings per share
of ST Engg for the current financial year.
"We are pleased with the confidence the Philippines Air Force has
in ST Aero's ability to provide cost-effective solutions for their
needs" said TAY Kok Khiang, President, ST Aero.
ST Aero provides a full spectrum of maintenance and engineering
services through its three business segments. Aircraft Maintenance
& Modification (AMM), Component / Engine Repair & Overhaul
(CERO), and Engineering & Materials Services (EMS). With
international offices and facilities located in key aviation hubs
in Asia Pacific, Europe, the Middle East and the United States, ST
Aero has a staff strength of more than 5,000 certified engineers
and administrative specialists.
ST Engg 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$2.82 billion in FY2003. Its market capitalisation of about S$6
billion ranks it among the ten largest companies listed on the
Singapore Exchange. ST Engg has 12,000 employees worldwide, and
over 100 subsidiaries in 15 countries and 22 cities.
-ends-
I think our next Helos are much more urgently needed than our
next fighter.
