Land Systems - Singapore Technologies Engineering

operating financial review
LAND SYSTEMS SOLUTIONS THAT EXCEED
THE COMPETITION
As ST Engineering’s land systems arm, ST Kinetics
provides an integrated suite of state-of-the-art
solutions for the defence, homeland security and
commercial markets. Serving customers in over
30 countries worldwide, ST Kinetics’ capabilities
cover the entire value chain, including the design,
development, production, operation and through-life
support of specialised land systems equipment and
specialty vehicles.
Despite market uncertainties, 2008 saw
improvements in ST Kinetics’ performance, largely
due to defence export sales. Its defence business
continued to perform well during the year, securing
several significant orders, most noteworthy of which
was the £150m order for Bronco All Terrain Tracked
Carriers by the UK Ministry of Defence (MoD).
Other key contracts announced were the supply of
40mm ammunition to the UK MoD and the export of
the 120mm Super Rapid Advanced Mortar System
(SRAMS) to a Gulf States customer.
LeeBoy 9000 Wheeled Paver was launched at CONEXPO 2008.
Faced with challenging market conditions in the
US, the company’s US specialty vehicles business
weathered the impact and grew in market share
in some product segments. In China, its specialty
vehicles companies managed to strengthen
operations and profitability.
ST Kinetics’ performance, in light of the difficult
market conditions, is testimony to its strong
capabilities and demand for its products and services.
Each of its specialty vehicles companies grew more
efficient, flexible and robust. Together with the solid
showing of its defence businesses, ST Kinetics has
reinforced its position as the premier land systems
company in Southeast Asia.
Land Systems & Solutions
The company participated in various exhibitions
during the year, showcasing both its capabilities
and products. In February, it participated in India’s
DefExpo 2008, where it showcased its automatic
assault rifle SAR21 and Ultimax100 light machine
gun. In the same month, the company participated
in the Singapore Airshow 2008, displaying its
range of capabilities for integrated defence
solutions, such as the wheeled 8x8 armoured
vehicle Terrex and Total 40mm Solutions, and
launching its 40mm Low Velocity Air Bursting
Munitions System (LV ABMS). The Commercial
Singapore Technologies Engineering Ltd ENGAGING IDEAS DELIVERING PROMISES Annual Report 2008
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