Latest news with #STEngineering
Zawya
5 hours ago
- Business
- Zawya
ST Engineering secures multi-year LEAP-1A maintenance contract with Air Cairo
Singapore - ST Engineering today announced that its Commercial Aerospace business has secured a five-year maintenance, repair and overhaul (MRO) contract with Air Cairo, a new customer, to support the LEAP-1A engines that power its Airbus A320neo fleet. Under this contract, ST Engineering will provide quick-turn repair and Performance Restoration Shop Visit (PRSV) services at its engine MRO facility in Singapore. The first engine is expected to be inducted in mid-2025. Captain Ahmed Shanan, Chairman and CEO of Air Cairo, said, 'We are pleased to form a partnership with ST Engineering, the globally recognised leader in engine overhaul, to support the maintenance of the LEAP-1A engines powering our Airbus A320neo. This agreement underscores our commitment to operational excellence, reliability and the highest standards of safety for our growing fleet.' 'As Air Cairo continues to expand its network and modernise its operations, having a trusted and experienced engine MRO provider like ST Engineering ensures that our engines receive world-class maintenance, minimising downtime and optimising performance. This collaboration will play a key role in supporting our mission to deliver seamless and efficient air travel for our passengers across the region. We look forward to a long and successful partnership with ST Engineering as we continue to strengthen our fleet capabilities and enhance our service offerings in the competitive aviation market.' Tay Eng Guan, Head of Engine Services at ST Engineering, said, 'This latest contract demonstrates increasing confidence in our expertise as a Premier MRO provider for the LEAP engines, while marking another significant step in expanding our LEAP engine support for Middle Eastern operators. As we continue to grow our LEAP engine MRO capacity and parts repair capabilities, we look forward to supporting Air Cairo – and more operators in the region – with high-quality, value-added LEAP engine services.' ST Engineering is the first independent MRO provider in Asia to be designated a Premier MRO provider in CFM International's LEAP open MRO ecosystem. It achieved testing capabilities for the LEAP-1A and LEAP-1B engines at its Singapore facility in 2024, and is currently expanding its capabilities to include PRSV and full MRO services to better support airlines' growing LEAP engine maintenance demands.
Straits Times
2 days ago
- Business
- Straits Times
ST Engineering hits all-time high; stock picks roll in after MAS update on $5 billion equities boost
Shares of SGX climbed through the week to reach a high of $14.33 on May 30 before dropping abruptly by almost 2 per cent to close at $14.02. ST PHOTO: LIM YAOHUI SINGAPORE - Shares of ST Engineering hit an all-time high last week after rising by 4.3 per cent to close on May 30 at $7.82. The company's shares have been on a tear since the start of 2025, climbing more than 68 per cent on the back of record 2024 results and increased dividends over the period. It also reported a solid first quarter for 2025, driven by strong growth in its defence and public security segment. The strong share price performance came ahead of the weekend's anticipated annual defence-focused Shangri-La Dialogue in Singapore. Addressing the audience at the dialogue on May 31, US Defence Secretary Pete Hegseth suggested that US allies and partners in Asia should take their cue from Europe, where members of the North Atlantic Treaty Organisation are committing to spend 5 per cent of their gross domestic product on defence. Shares of Singapore Exchange (SGX) climbed through the week to reach a high of $14.33 on May 30 before dropping abruptly by almost 2 per cent to close at $14.02. No announcements were made on the day. Trading activity on the exchange has increased in recent months, driven by market revival measures announced in February and growing investor interest in Singapore stocks as a safe haven amid global volatility. Almost 29.5 billion shares worth around $41 billion were traded in April, up from around 26.8 billion shares valued at $29.6 billion traded in March, according to SGX data. The average daily value of shares traded in April, at $1.9 billion, is the highest level since March 2020. Analysts pick potential winners ahead of $5 billion boost Trading on the SGX has included shares in companies outside the benchmark Straits Times Index (STI), supported by a central bank-led programme to allocate $5 billion in seed capital to Singapore-based funds for investing in local, non-STI stocks. Announced in February as part of the measures to revive the stock market, the Equity Market Development Programme (EQDP) has received positive interest from global fund managers, and suitable investment strategies will be shortlisted by end-September, the Monetary Authority of Singapore (MAS) said last week. Analysts reckon the funds will likely be deployed before the end of 2025 and have been highlighting stocks they believe could benefit from this bonanza. SIA Engineering is one of their favourites, with CGS CIMB, UOB KayHian, DBS and Morgan Stanley including the company in their list of stock picks. They like the company as demand for its aircraft maintenance, repairs and overhaul services is expected to grow. Systems assembly provider Frencken Group and property agency PropNex are also among the analysts' top picks, owing to the companies' strong revenue forecasts for 2025. Other selected stocks include instant coffee maker Food Empire, finance platform iFast, precision engineering business UMS Integration, supermarket chain Sheng Siong, Raffles Medical, technology solutions provider CSE Global, palm oil producer First Resources, transportation giant ComfortDelGro and construction firm Hong Leong Asia. Some analysts also like Oiltek International, a provider of vegetable oil processing technology, and Centurion Corp, which operates workers' dormitories in Singapore. Both companies have seen their share prices climb since the start of 2025, driven in part by Oiltek's upcoming transfer from the Catalist board to the mainboard and the potential listing of a real estate investment trust (Reit) by Centurion. Analysts from UOB KayHian said they are now more bullish on the Singapore market as a result of the anticipated injection of liquidity from the EQDP, and have raised their forecast for the STI to 4,054 points by the end of 2025 from 3,720 points previously, implying an upside of 5 per cent from current levels. They noted, though, that 'it will be critical for the authorities to ensure that the $5 billion is not a one-off and that as the market grows, it will be able and willing to continue to lend its support'. More firms could leave the local bourse Two more companies announced moves that may impact their SGX listing status even as efforts are being made to boost market interest and attract new initial public offerings (IPOs). Singapore Paincare on May 27 received a privatisation offer from Advance Bridge Healthcare at 16 cents a share, valuing the company at about $27 million. The local medical services company will be delisted from the Catalist board if the deal is successful, it said. Meanwhile, Chinese manufacturer Fuxing China Group said on May 29 that trading in its American depositary shares would begin 'very shortly' after it received approval to list on the Nasdaq on May 23. When contacted by The Straits Times, Fuxing China Group declined to confirm whether it would maintain its SGX listing or provide further details on the Nasdaq move. In 2025 so far, at least 15 companies have received privatisation offers, compared with just one IPO. This is despite ongoing efforts to draw more companies to list on the SGX, including proposals announced on May 15 to ease the disclosure requirements for firms pursuing an IPO here. Other market movers Shares of Samurai 2K Aerosol jumped by over 52 per cent last week and closed on May 30 at 9.6 cents. The aerosol paint distributor said on May 28 it had agreed with its insurer on a RM16.06 million (S$4.9 million) indemnity claim for a May 2024 fire at its Johor premises. It can also claim an extra RM1.79 million if the damaged properties are repaired according to certain conditions and within a set timeline. The insurance claim had initially been declined due to non-compliance of the insurance policy terms, according to its insurer. However, Samurai 2K escalated the matter to the Malaysian central bank and engaged consultants to help it negotiate the claims. The company reported on May 30 after market close a 31.4 per cent jump in revenue for the year ended March 31, to RM104.9 million. However, it registered losses of RM7.8 million due to the write-off of inventory worth RM12.7 million and property damage totalling RM3.5 million as a result of the fire. The insurance claims receivable will be registered in 2026. Acrophyte Hospitality Trust (AHT) jumped 23.4 per cent last week and closed May 30 at 29 US cents. AHT's managers on May 30 said they were evaluating a 'range of strategic options' that could result in a 'potential transaction' involving AHT's stapled securities, although this is not guaranteed. Stapled securities are financial instruments where two or more different securities are contractually bound together and traded as a single unit. The AHT group comprises Acrophyte Hospitality Property Trust and Acrophyte Hospitality Management Trust. The strategic review comes in the light of potential spending needs to upgrade AHT's current properties. This involves upgrades to seven Marriott and Hyatt-branded hotels in 2025, after six other hotels were upgraded in 2024. It also comes after a similar move by Frasers Hospitality Trust (FHT) in April, following which FHT's sponsor Frasers Property made a second attempt to privatise the stapled group at 71 cents per stapled security in May. FHT comprises Frasers Hospitality Reit and Frasers Hospitality Business Trust. AHT was formerly known as ARA US Hospitality Trust before the manager changed hands to come under Acrophyte AM, a unit of Acrophyte, which largely consists of the businesses of the formerly listed Chip Eng Seng. The entities are all ultimately controlled by property tycoon Gordon Tang and his wife Celine, who have multiple interests in property and construction, including Suntec Reit and Singapore property developer SingHaiyi. What to look out for this week Shares of OKP Holdings, which rose 9 per cent last week, could see more trading activity – after the market closed on May 30, it announced a $258.3 million contract from the Land Transport Authority to construct cycling paths across 11 towns in the eastern part of Singapore. The win brings OKP's net contract order book to a record high of $735.8 million, with contracts extending until 2031. Oiltek could see more trading, too. The company will officially transfer from Catalist to the SGX mainboard on June 6. Join ST's Telegram channel and get the latest breaking news delivered to you.
Yahoo
4 days ago
- Business
- Yahoo
ATxEnterprise 2025 Boosts Global Participation, Reinforces Singapore's Responsible AI and Innovation Leadership
SINGAPORE, May 30, 2025 /PRNewswire/ -- ATxEnterprise (ATxE) 2025, Asia's leading enterprise technology event and part of the Asia Tech x Singapore (ATxSG) platform, concluded its fifth and most ambitious edition this week at Singapore EXPO. This year's edition saw a 5% increase in international participation from over 110 countries. This reflects growing recognition that AI adoption is a global imperative requiring cross-border collaboration, responsible governance, and inclusive innovation. During the three-day event, new partnerships with industry giants Alibaba Cloud, Prudential and ST Engineering were announced to give more local SMEs access to cutting-edge technologies including artificial intelligence (AI), cloud and cyber security. Announced at the opening of ATxEnterprise by Mr Tan Kiat How, Senior Minister of State for Digital Development and Information, these new collaborations, in support of the nation's Digital Enterprise Blueprint (DEB), will equip businesses to accelerate the adoption of frontier technologies and strengthen cyber resilience with advanced AI capabilities. Mr Tan also launched two new talent programmes that will provide upskilling opportunities and create specialised AI career pathways for locals. These programmes will train AI practitioners ahead of demand as Singapore ramps up on accelerating Generative AI (GenAI) adoption across the enterprise ecosystem, strengthening the nation's position as a global AI hub. Spanning across twelve dedicated stages, the event united global tech leaders, policymakers, and innovators to explore emerging technologies. From GenAI and quantum computing to satellite infrastructure and cybersecurity, the message is clear: AI is transforming every sector, and must be scaled inclusively. Innovation and Partnerships Driving the Digital FrontierFlagship conferences such as the AI Summit Singapore brought together enterprise leaders, regulators, and researchers to explore responsible tech scaling and stronger digital infrastructure, through AI integration. Notable speakers from UBS, Deel, A*STAR, DHL, Ernst & Young, Mastercard, SingHealth, Singtel, and Dyson led sessions on topics, including AI governance, sector-specific use cases, and breakthroughs in natural language processing and quantum AI. SatelliteAsia, in partnership with Singapore Space & Technology Ltd. (SSTL) and the Global Satellite Operators Association (GSOA), spotlighted the role of satellites in infrastructure, sustainability, and digital inclusion. Speakers from NASA, Kacific, Telesat, and ST Engineering iDirect discussed regional space ambitions and connectivity solutions. Recognising Impact, Shaping What's NextCapping off the week was the debut of the Enterprise Tech Awards, honouring digital transformation excellence. With 90 award submissions from 14 countries, the Awards spotlighted innovation in Healthcare, Cybersecurity, AI, Digital Solutions, GreenTech, and Government Services. Winners included NEC Asia Pacific, Starhub, Seagate, Globant, and ATxE 2025 also hosted a CISO Tech Briefing and Enterprise Tech Leaders Forum, where senior decision-makers discussed regulatory alignment, innovation, and enterprise resilience. Together, these programmes signalled ATxE's evolution from a showcase to a strategic convening ground for global leaders shaping the digital economy. This growing influence was reflected in the rise in international attendees and high-level engagement. "ATxE 2025 has set a new benchmark for enterprise innovation in Asia," said Joyce Wang, Event Director, Asia Tech x Singapore. "From breakthrough technologies to bold cross-sector partnerships, this year's edition proved that the region isn't just participating in the global tech conversation—it's leading it. It also reinforces Singapore's ability to host world-class MICE events that convene decision-makers, innovators, and global thought leaders. We're proud to provide a platform that turns ambition into action, and we look forward to delivering even greater impact in 2026." ATxE will return to the Singapore EXPO from 20 - 22 May 2026, continuing to shape the region's digital future through meaningful partnerships, actionable insights, and bold innovation. - ENDS - About Informa Festivals Informa Festivals is home to Informa's experience-led events. In five global and fast-moving markets, we inspire and celebrate business with events that deliver unique experiences, immersive activities, high-impact content, powerful connections and personal enrichment. Our leading international Tech festivals include London Tech Week, Africa Tech Fest and Asia Tech x Singapore. For more information, please visit View original content to download multimedia: SOURCE Informa Festivals
Business Times
6 days ago
- Business
- Business Times
SingHealth Duke-NUS' AI spinoff inks MOUs with Roche, ST Engineering to improve healthcare operations
[SINGAPORE] Enigma Health, a healthcare artificial intelligence (AI) spinoff from SingHealth Duke-NUS Academic Medical Centre, has inked separate memorandums of understanding (MOUs) with Swiss pharmaceutical giant Roche and Singapore technology player ST Engineering to expand the reach of its agentic AI platform. Agentic AI is a class of artificial intelligence that can reason and act autonomously. The platform, Enigma, was developed by a team of clinicians and AI scientists to optimise workflow and streamline data-intensive, time-consuming processes at healthcare organisations. This could range from administrative work to analysing surgeries as part of clinical audits. At the same time, the platform is able to maintain the security and regulatory compliance of the data. 'We are not taking any data out from anywhere... we are deploying (Enigma) at the source,' said Dr Dario Heymann, chief executive of Enigma Health, at a media briefing on Tuesday (May 27). The MOUs, signed at the Asia Tech X Singapore Summit, will enable Roche and ST Engineering to make use of Enigma in certain areas. The first MOU signed by Enigma Health and Roche will enable the two entities to jointly explore advanced AI and digital technologies to accelerate clinical trial recruitment, improve market access and enhance business intelligence. 'When you look at clinical trials, 40 per cent of the cost is actually on the recruitment side,' said Dr Heymann. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Enigma would be able to identify patients much faster based on the inclusion and exclusion criteria selected by the company, which would then save time and costs for these trials. Better oversight The second MOU signing between Enigma Health and ST Engineering will add the AI firm's small language model to ST Engineering's Agil Genie Studio platform, which enables users to build and deploy AI applications. Small language models are streamlined versions of large language models, which refer to AI systems such as ChatGPT that process vast amounts of text data to comprehend and generate human language. ST Engineering builds command centres for hospitals, which serve to manage crises such as the Covid-19 pandemic, said Tan Bin Ru, president of enterprise digital at ST Engineering. 'The command centre leverages open-source large language models, but we realised that for specific areas, you actually need the small language model that Enigma is building, and it makes sense then to partner (with Enigma Health),' she said. For example, the hospital command centre has oversight of operating theatre capacity, but may not have the ability to check more specialised data such as post-surgery audits. Enigma's addition may then allow the command centre to look at both types of information from the same command centre. The two signings were witnessed by Minister of State for Digital Development and Information Rahayu Mahzam at the summit's Scaling and Sustaining Healthcare with GenAI Symposium. In her closing remarks, she said that good governance is as crucial as technological advances in advancing the adoption of AI in healthcare. Minister of State for Digital Development and Information Rahayu Mahzam says: 'Without clear rules, companies hesitate to invest, and doctors hesitate to adopt new technologies.' PHOTO: SINGHEALTH 'Without clear rules, companies hesitate to invest, and doctors hesitate to adopt new technologies,' she said. While Singapore has provided clear regulatory pathways for adopting AI in healthcare, 'healthcare transformation requires collective effort and shared expertise', added Rahayu, who is also minister of state for health. 'The two MOUs exemplify our collaborative approach to healthcare innovation,' she added. Prior to the announcements, Enigma was piloted in several SingHealth institutions, such as the Singapore National Eye Centre, SingHealth Duke-NUS Institute of Precision Medicine (Prism) and KK Women's and Children's Hospital. 'At KK Women's and Children's Hospital and Prism, a pilot with Enigma cut genetic reporting time from 30 minutes per report to just seconds, or 1,400 reports in an hour, instead of weeks,' noted Rahayu.
Business Times
7 days ago
- Business
- Business Times
SingHealth Duke-NUS' AI spin-off inks MOUs with Roche, ST Engineering to improve healthcare operations
[SINGAPORE] Enigma Health, a healthcare artificial intelligence (AI) spin-off from SingHealth Duke-NUS Academic Medical Centre, has inked separate memorandums of understanding (MOUs) with Swiss pharmaceutical giant Roche and Singapore technology player ST Engineering to expand the reach of its agentic AI platform. Agentic AI is a class of artificial intelligence that can reason and act autonomously. The platform, Enigma, was developed by a team of clinicians and AI scientists to optimise workflow and streamline data-intensive, time-consuming processes at healthcare organisations. This could range from administrative work to analysing surgeries as part of clinical audits. At the same time, the platform is able to maintain the security and regulatory compliance of the data. 'We are not taking any data out from anywhere... we are deploying (Enigma) at the source,' said Dr Dario Heymann, chief executive of Enigma Health, at a media briefing on Tuesday (May 27). The MOUs, signed at the Asia Tech X Singapore Summit, will enable Roche and ST Engineering to make use of Enigma in certain areas. The first MOU signed by Enigma Health and Roche will enable the two entities to jointly explore advanced AI and digital technologies to accelerate clinical trial recruitment, improve market access and enhance business intelligence. 'When you look at clinical trials, 40 per cent of the cost is actually on the recruitment side,' said Dr Heymann. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Enigma would be able to identify patients much faster based on the inclusion and exclusion criteria selected by the company, which would then save time and costs for these trials. Better oversight The second MOU signing between Enigma Health and ST Engineering will add the AI firm's small language model to ST Engineering's Agil Genie Studio platform, which enables users to build and deploy AI applications. Small language models are streamlined versions of large language models, which refer to AI systems such as ChatGPT that process vast amounts of text data to comprehend and generate human language. ST Engineering builds command centres for hospitals, which serve to manage crises such as the Covid-19 pandemic, said Tan Bin Ru, president of enterprise digital at ST Engineering. 'The command centre leverages open-source large language models, but we realised that for specific areas, you actually need the small language model that Enigma is building, and it makes sense then to partner (with Enigma Health),' she said. For example, the hospital command centre has oversight of operating theatre capacity, but may not have the ability to check more specialised data such as post-surgery audits. Enigma's addition may then allow the command centre to look at both types of information from the same command centre. The two signings were witnessed by Minister of State for Digital Development and Information Rahayu Mahzam at the summit's Scaling and Sustaining Healthcare with GenAI Symposium. In her closing remarks, she said that good governance is as crucial as technological advances in advancing the adoption of AI in healthcare. Minister of State for Digital Development and Information Rahayu Mahzam says: 'Without clear rules, companies hesitate to invest, and doctors hesitate to adopt new technologies.' PHOTO: SINGHEALTH 'Without clear rules, companies hesitate to invest, and doctors hesitate to adopt new technologies,' she said. While Singapore has provided clear regulatory pathways for adopting AI in healthcare, 'healthcare transformation requires collective effort and shared expertise', added Rahayu, who is also minister of state for health. 'The two MOUs exemplify our collaborative approach to healthcare innovation,' she added. Prior to the announcements, Enigma was piloted in several SingHealth institutions, such as the Singapore National Eye Centre, SingHealth Duke-NUS Institute of Precision Medicine (Prism) and KK Women's and Children's Hospital. 'At KK Women's and Children's Hospital and Prism, a pilot with Enigma cut genetic reporting time from 30 minutes per report to just seconds, or 1,400 reports in an hour, instead of weeks,' noted Rahayu.
