ST Engineering - RHB Invest 2024-04-08: Updated ESG Data; Unchanged Positive Thesis; BUY

• We reiterate our positive outlook on ST Engineering (SGX:S63), which still has defensive dividends at S$0.04 per quarter, and strong earnings growth as all business segments witness robust growth.
• - Read this at SGinvestors.io -

Unchanged positive investment thesis.

• ST Engineering’s earnings outlook remains defensive. Its order backlog of S$27.4bn implies a book-to-bill ratio of 2.7 years. ST Engineering expects S$7.9bn of the orderbook to be delivered in 2024, accounting for 73% of our 2024F revenue estimate.
• - Read this at SGinvestors.io -
• The USS unit's earnings should improve as a result of the right-sizing exercise and earnings contribution from its TransCore acquisition.
• The Defence & Public Security (DPS) business’ profitability should be supported by the gradual delivery of its orderbook.

Expect dividend of S$0.04 per quarter

• Read more at SGinvestors.io.

Above is an excerpt from a report by RHB Securities Research.
Clients of RHB may be the first to access the full PDF report @ https://www.rhbtradesmart.com/.

Read also RHB's most recent report:
2026-01-29 ST Engineering - Outperformance To Continue; Reiterate BUY.

Previous report by RHB:
2025-12-19 ST Engineering - Near-term Wins; Long-term Growth Intact.

Price targets by 3 other brokers at ST Engineering Target Prices.

Listing of research reports at ST Engineering Analyst Reports.

Relevant links:
ST Engineering Share Price History,
ST Engineering Announcements,
ST Engineering Dividend Payout Dates & Corporate Actions,
ST Engineering News