ST Engg

ST Engg: its aerospace arm ST Aerospace has secured ~$370m worth of new contracts in 2Q12, comprising Aircraft Maintenance and Modification, Component Total Support and Engine Total Support businesses. ST Aero provides a recap on other operating updates as well. During the quarter, ST Aero finalised a deal with Airbus, EADS and EADS EFW on an A330 passenger-to-freighter conversion programme. On the component total support front, ST Aero secured a 10-year contract to support a fleet of Boeing 757s. ST Aero will also provide pilot training for 30 cadets for Tiger Airways. ST Engg trades at 17.6x P/E, offers 4.8% historical div yield.