Singapore, Jan 22, 2026, 15:04 SGT — Regular session
- ST Engineering shares dropped roughly 1.7% in afternoon trading, following a close at S$9.57 on Wednesday
- At DIMDEX 2026, Qatar’s Barzan Holdings inked a QAR 1.5 billion services deal with the Singapore group
- ST Engineering’s iDirect Government unit secured a U.S. Missile Defense Agency framework contract featuring a $151 billion ceiling
Shares of Singapore Technologies Engineering Ltd dipped Thursday afternoon, despite a slew of headlines highlighting fresh defence and infrastructure contracts.
The decline is significant as investors search for new contract signals heading into the new year—sorting out what’s genuine, what’s optional, and what will hit earnings sooner rather than later.
This week’s updates cover two market movers: defence services revenue, which usually stays steady when contract terms are clear, and large U.S. framework awards—those big figures that often take a while to convert into actual cash.
ST Engineering slipped 1.67% to S$9.41 as of 2:58 p.m. Singapore time, from Wednesday’s finish at S$9.57, according to SGinvestors data. 1
Qatar’s state news agency reported that Barzan Holdings inked a services deal with Singapore’s ST Engineering worth QAR 1.5 billion ($412 million) on day two of DIMDEX 2026 in Doha. 2
Separately, ST Engineering announced that iDirect Government (iDirectGov) secured the Missile Defense Agency’s SHIELD indefinite-delivery/indefinite-quantity contract—a framework deal with a spending cap, where specific projects will be assigned via task orders. The contract’s ceiling stands at $151 billion, with iDirectGov set to vie for task orders over the next decade. 3
TransCore’s U.S. transport unit wrapped up the switch to all-electronic tolling on New Jersey’s 44-mile Atlantic City Expressway and will now manage the system’s operations and maintenance. Stephen Dougherty, executive director of the South Jersey Transportation Authority, described it as “a significant achievement.” TransCore CEO Whitt Hall noted the project demanded “careful planning and execution.” 4
Closer to home, ST Engineering repurchased 500,000 shares on-market on Jan. 20, according to a filing. The shares were kept as treasury stock rather than being cancelled. Prices ranged from S$9.51 to S$9.60, with the total outlay hitting roughly S$4.78 million. 5
Trading picked up pace. Shares fluctuated from S$9.35 to S$9.65 on Thursday, with roughly 3.79 million changing hands, according to data from Investing.com. 6
But headline figures can be misleading. A cap on an IDIQ award doesn’t ensure actual revenue. The Qatar services deal came with no specifics on timing, margins, or delivery milestones — the factors that usually sway forecasts.
Investors are turning to the upcoming earnings for insight on what’s turning into actual sales versus what remains stuck in the pipeline. ST Engineering is set to release its next report on Feb. 26, per 7 .
