Singapore, January 30, 2026, 14:58 SGT — Regular session
- ST Engineering (SGX: S63) gained roughly 1.2%, climbing to S$9.77; Singapore’s STI dipped slightly
- Company reported roughly $4.7 billion in contract wins for 4Q2025; total awards for 2025 hit $18.7 billion
- RHB bumped its target price up to S$10.70, with results due Feb. 27 set as the next key checkpoint
Shares of Singapore Technologies Engineering Ltd (ST Engineering) (SGX: S63) climbed 1.2% to S$9.77 in afternoon trading on Friday, just shy of the day’s peak at S$9.78. Meanwhile, the Straits Times Index edged down 0.2%. (ShareInvestor)
ST Engineering reported roughly $4.7 billion in contract wins for the fourth quarter of 2025, boosting total awards for the year to $18.7 billion — a 49% jump from 2024. These new orders add to their backlog and could translate into future revenue. Commercial aerospace contributed $1.7 billion, driven by a five-year nacelle maintenance contract for LOT Polish Airlines’ Boeing 787 fleet. Defence and public security contracts made up $2.5 billion, including a Singapore defence ministry infantry fighting vehicle programme and ammunition orders. (ST Engineering)
RHB Bank kept its “buy” rating on ST Engineering on Thursday and raised the target price to S$10.70 from S$9.40, pointing to record contract wins and a stronger balance sheet after recent divestments, according to a broker note. Analyst Shekhar Jaiswal highlighted “record 2025 contract wins” as the key driver behind the positive outlook, noting that momentum in defence and public security, along with a favorable geopolitical climate, could push the stock higher. ST Engineering is set to release its second-half and full-year 2025 results on Feb. 27. (The Business Times)
The date is crucial since this stock has been driven by visibility. Investors are eager to track how fast the new business translates into revenue and if margins can sustain as volumes increase.
Winning contracts doesn’t always translate into immediate sales. In aerospace and defence, revenue typically hits the books only when work is completed or milestone payments are triggered, causing quarterly figures to fluctuate.
But the rally sets higher expectations. Any slip in margins, delays in projects, or a slowdown in the airline maintenance cycle might force investors to rethink the order narrative.
Defence spending remains a key wildcard. Orders pick up pace when governments speed up procurement, yet budgets and delivery timelines continue to fluctuate with politics, FX, and supply chain issues.
Traders eye the upcoming Feb. 27 report for clues on recurring earnings — profits stripped of one-offs — plus any news on the order book and cash conversion. Dividend expectations will linger in the background as well.
The Feb. 27 results and briefing are next. The share price reaction will probably depend on whether ST Engineering can demonstrate that the record contracts are already boosting profit for 2026.
