STE

STE: Announced that it has secured about S$192m worth of contracts for rail electronics, intelligent transportation, satellite communications and smart utility projects in 4Q12. One of the rail electronics contracts is for the implementation of a Supervisory Control & Data Acquisition system for Malaysia’s Sungai Buloh-Kajang mass rapid transit line. OCBC note that this marks progress for ST Electronics into the country, which is new territory for the division’s rail electronic solutions and maintain fair value of $3.90 and HOLD rating on STE.