ST Engineering - RHB Invest 2024-10-08: Continues To Win New Contracts; Stay BUY

• We stay positive on ST Engineering (SGX:S63)’s growth trajectory after it announced a new exclusive MRO contract from Akasa Air for maintenance of the LEAP-1B engines that power the Indian airline’s Boeing 737 fleet. The contract covers its existing 25 planes and yet-to-be-delivered 201 aircraft.
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New MRO contracts.

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• Meanwhile, ST Engineering and Airbus’ Elbe Flugzeugwerke (EFW) JV is re-entering the Airbus A380 MRO market, conducting airframe heavy maintenance services in 4Q24 for a new customer’s (Global Airlines) first A380 aircraft – this is to facilitate its entry into service. EFW will be responsible for all scheduled maintenance, including mandatory inspections and component replacements.
• ST Engineering has also received A380 MRO orders from other customers and will expand its maintenance activities from 2025 for this aircraft type.

TransCore’s new contract win.

• 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