ST Engg

ST Engg: its electronics arm, ST Electronics has secured ~$206.8m of contracts for rail electronics, satellite communications, and communications projects in 2Q13. ST electronics sees opportunities in mass transit systems as cities become more densely populated. Also notes the proliferation of mobile devices has driven demand for broadband services in both urban and rural areas, and is well positioned with its new generation of products that are compatible with the new generation of high throughput satellites. The magnitude of the contract wins is in line with OCBC’s expectations. The house maintains its Hold rating with TP $3.97.