ST Engineering
Singapore Technologies Engineering or ST Engineering is a Singapore-based multinational technology, defence and engineering group with a diverse portfolio of businesses across the aerospace, smart city, defence and public security segments.
As of 2024, it was the eighth largest company on the Singapore Exchange by market capitalisation. It is a component stock of MSCI Singapore, FTSE Straits Times Index and Dow Jones Best-in-Class Asia Pacific Index. The company is ranked among the top 100 global defence manufacturers by the Stockholm International Peace Research Institute and Defense News based on defence segment and total revenue respectively.
History
ST Engineering's history stemmed from the foundations of the Singapore defence industry, with the earliest roots being the Chartered Industries of Singapore in 1967. Its origins are linked to several defence-related companies that later became its operational divisions. These notable companies were held under Sheng-Li Holding Company Private Limited, which was formed on 3 January 1974 to serve as the holding entity for eight defence-related companies of significant interest to Ministry of Defence through a share exchange with the Minister for Finance. The name was a direct phonic adaption of the Chinese word "胜利", which translates as "victory".The Singapore Technology Corporation, established in 1983, briefly served as a holding company to consolidate the manufacturing and service capabilities of the ordnance-related companies, with the exception of Bofors-linked joint venture Allied Ordnance Company of Singapore, which later became a subsidiary of CIS in 1988. Sheng-Li Holding Company was later succeeded as the Singapore Technologies Holdings on 11 May 1990, through a series of restructure and re-consolidation following the introduction of its new corporate identity and sunburst logo in 1989.
The following companies were instrumental in the foundation of ST Engineering.
Chartered Industries of Singapore (CIS)
The Chartered Industries of Singapore was established in 1967 as a munitions manufacturer to address the defense equipment needs of Singapore following its independence. The company's first facility, located in Jurong, began operations as an ammunition plant. Parts of this facility later became the Singapore Mint. Initially, CIS produced 5.56mm caliber ammunition for the Singapore Armed Forces, while simultaneously minting circulation coins for the Board of Commissioners of Currency of Singapore. Both operations shared a workshop that supported both military and civilian markets.In its early years, CIS focused on licensed manufacturing and subcontracted work for foreign ordnance producers. During this period, the company's engineers and technicians gained experience in development and production of munitions across various calibers.
By 1996, CIS, through its subsidiaries, had expanded its operations to produce various types of ordnance for the SAF and international export. Its subsidiaries included:
- Chartered Ammunition Industries , which produced small, medium, and large caliber ammunition, explosives, pyrotechnics, and anti-tank weapons.
- Ordnance Development Engineering , incorporated in 1973 with the objective to achieve indigenous design and manufacture medium to large caliber weapon systems, including mortars, cannons.
- Chartered Firearms Industries , which manufactured infantry and crew-served weapons, including the SR88A assault rifle, Ultimax 100 light machine gun, 7.62mm General Purpose Machine Gun, 40mm grenade launchers, and the 40/50 Cupola Weapon System.
- Allied Ordnance of Singapore , which provided short-range air defense systems, including the 40mm L70 air defense gun and associated missile and optronic fire control systems.
Singapore Automotive Engineering (SAE, later ST Automotive)
Singapore Automotive Engineering was incorporated in 1971 in one of the SAF's vehicle maintenance base at Ayer Rajah, to support automotive-related services for the SAF. Its first immediate task was to service and maintain a fleet of V200 Armoured Personnel Carriers, as well as the repair and overhaul of the fleet of Bedford trucks inherited from the British military forces in 1972.By 1982, SAE expanded into the commercial sector, including establishing the SAE Inspection Centre to provide vehicle servicing for military and civilian clients. In 1983, the company established Singapore Commuter, a taxi service operator. Singapore Commuter was later merged with Singapore Airport Services Ltd and Singapore Bus Service Taxi Pte Ltd in April 1995 to form CityCab.
In the defence sector, ST Auto had fulfilled various contracts for several military vehicle upgrades, including the AMX-13-SM1 Light Tanks in both Singapore and overseas, and refurbishments the M113 Armoured Personnel Carrier in 1993 for the Singapore Armed Forces.
Singapore Automotive Engineering make its initial public offering on the Singapore Stock Exchange on 27 August 1991, offering 30 million shares at an issue price of S$1.20. In 1992, it obtained exclusive rights to distribute German Opel cars in partnership with American car maker General Motors.
On 29 December 1994, Singapore Automotive Engineering was renamed Singapore Technologies Automotive Ltd, along with announced name changes of the other three main subsidiaries under the Singapore Technologies Group. as part of a group-wide rebranding following the transfer of the parent group, Singapore Technologies Group, to Temasek Holdings earlier that year.
In end-1995, STA Detroit Diesel-Allison was formed to take on the maintenance of the Detroit diesel engines and Allison transmission used in the Bionix as well as to distribute the Detroit Diesel parts in the Asian region.
Singapore Electronic & Engineering Limited (SEEL, later ST Electronics & Engineering)
Singapore Electronic & Engineering Limited was established in 1969, following the withdrawal of the British Royal Navy from Singapore and the acquisition of Her Majesty's Sembawang Dockyards by Swan Hunter. SEEL took control of assets and electronics workshops previously operated by the Royal Navy and inherited staff, including weapons maintenance personnel and seconded civilians.. The workshops were initially managed by Philips Australia.SEEL continued to provide maintenance services for the Royal Navy Fleet and, subsequently, for United States military forces deployed in Vietnam, as well as the Singapore Armed Forces. To adapt to the reduced demand following the Royal Navy's departure and the slow uptake of US Navy contracts, SEEL established an aviation electronics service wing alongside its general engineering operations. This expanded its client base to include private, charter, and military operators.. Despite this expansion, SEEL struggled to generate significant profits during its early years.
By 1974, financial difficulties led to staff retrenchments and the sale of some assets. In an effort to remain viable, SEEL briefly diversified into the distribution and maintenance of commercial electronic products, laying the groundwork for its future system integration capabilities. A Systems Division was subsequently established within the Engineering Department, along with an Aircraft Electrical Overhaul Shop at Seletar Air Base.
By 1977, SEEL had returned to profitability. SEEL was placed under the Singapore Aircraft Industries in 1980 prior to its listing in July 1991, for its involvement aviation-related businesses.
SEEL ventured into commercial ventures beginning from the 1970s. In September 1978, SEEL won the contract to do the Building Automation System for Changi International Airport Terminal 1 with ITT Regelungstechnik, a West German subsidiary of US company ITT. In 1982, it secured the contract through a Singapore-German joint venture Systems Union Pte Ltd, to supply new control and automation systems for the second 3.35 km runway of Changi International Airport. It went on to secure contracts for integrated communication and control systems for local and overseas metro projects, including the Singapore MRT in 1992 and the Taipei Metro in 1993.
In the defence industry, SEEL was awarded contracts by MINDEF for the outsourced operations of the Electronic Supply and Maintenance Base in 1981 and the Central Missile Supply Base in 1983.
SEEL's Aviation Division was integrated with SAMCO's aircraft component repair facility in August 1982 to form Singapore Aero-Components Overhaul. SEEL would focus on landbased electronics systems while under the parent holding company SAI.
In 1986, a joint venture, Singapore Engineering Software, was established between SEEL and the Swedish company Ericsson Radio Systems AB. The purpose of the venture was to enhance engineering capabilities, particularly in software development for real-time command and control. Over time, it was expected to provide SEEL with access to Ericsson's global market reach.
On 29 December 1994, Singapore Electronic & Engineering Limited was renamed Singapore Technologies Electronics & Engineering Ltd, along with announced name changes of the other three main subsidiaries under the Singapore Technologies group.
Singapore Shipbuilding and Engineering (SSE, later ST Shipbuilding & Engineering)
Singapore Shipbuilding & Engineering was established in May 1968 as a private company with the Singaporean government holding a minority stake. Initially, SSE focused on constructing vessels for the Republic of Singapore Navy as well as commercial operators.In its early years, the company faced financial difficulties. Although the RSN had ordered several logistics vessels, funding priorities shifted towards the expansion of the Singapore Air Defence Command, and the RSN had no further significant work for SSE. This led to a decline in business, compounded by ongoing management-labor issues. By 1978, SSE experienced a significant setback after underbidding a contract for a series of 10 cargo container vessels for a consortium of European owners. As a result, the company faced the possibility of loan defaults.
To avert collapse, Sheng-Li Group, a company within the same corporate group, injected fresh capital into SSE. During this period, key personnel from the RSN, joined SSE to lead the company through its turnaround. The company recovered within a year following restructuring.
Following the restructuring, SSE began to focus more aggressively on the commercial market, offering vessel designs for commercial clients. The company invested in building a skilled team of engineers and introduced a variable bonus scheme. By 1981, SSE secured a major contract to build three 120-meter cargo container vessels for Hellenic Lines, a Greek shipping company. The vessels were delivered ahead of schedule.
SSE was the first shipyard in Asia to acquire a CAD/CAM system. In the latter half of the 1980s, the company continued to innovate, producing advanced vessels such as the Tiger 40 Hovercraft.
In 1991, SSE achieved global recognition by earning the ISO 9001 Certification from Lloyd's Register Quality Assurance Ltd, as the first shipyard outside Western Europe to do so.
While the shipyard initially focused on naval and paramilitary craft for both Singapore and international clients, it also expanded into the civilian sector. By 1996, 45% of SSE's revenue came from military contracts, with the remainder derived from commercial projects. These included the conversion of seismic vessels, the refurbishment of luxury yachts, the design and installation of firefighting systems on supply ships, and the repair of chemical tankers and dredges.
On 29 December 1994, Singapore Shipbuilding and Engineering was renamed Singapore Technologies Shipbuilding and Engineering Ltd, along with announced name changes of the other three main subsidiaries under the Singapore Technologies group.