{"id":41387,"date":"2025-07-30T11:38:32","date_gmt":"2025-07-30T03:38:32","guid":{"rendered":"https:\/\/www.phillipnova.com.sg\/?post_type=market_trends&#038;p=41387"},"modified":"2025-07-30T11:51:41","modified_gmt":"2025-07-30T03:51:41","slug":"st-engineering-sgx-s63-has-grown-85-84-ytd-but-whats-driving-the-growth-lets-find-out","status":"publish","type":"market_trends","link":"https:\/\/www.phillipnova.com.sg\/cn\/market_trends\/st-engineering-sgx-s63-has-grown-85-84-ytd-but-whats-driving-the-growth-lets-find-out\/","title":{"rendered":"ST Engineering (SGX: S63) has grown 85.84% YTD, but what\u2019s driving the growth? Let\u2019s find out."},"content":{"rendered":"<p><span style=\"font-size: 14pt;\">\r\n\r\n<\/span><\/p>\r\n<p class=\"wp-block-paragraph\">Phillip Nova\u9ad8\u7ea7\u6295\u8d44\u5206\u6790\u5e08\u6797\u77e5\u9716\u5148\u751f<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>ST Engineering (SGX: S63) has grown 85.84% YTD, outperforming even the highly popular local banks like DBS (SGX: D05), UOB (SGX: U11) and OCBC (SGX: 039) which gained 10.75%, 0.77% and 1.98% respectively. In this Market Trends article, we will deep dive into the business lines operated by ST Engineering, learn more about the key drivers for the growth and assess if prices could trace higher in the latter half of 2025.<\/p>\r\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-41389\" src=\"https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/ST-Engineering-30-July-2025.png\" alt=\"\" width=\"1358\" height=\"606\" srcset=\"https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/ST-Engineering-30-July-2025.png 1358w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/ST-Engineering-30-July-2025-300x134.png 300w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/ST-Engineering-30-July-2025-1024x457.png 1024w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/ST-Engineering-30-July-2025-768x343.png 768w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/ST-Engineering-30-July-2025-18x8.png 18w\" sizes=\"(max-width: 1358px) 100vw, 1358px\" \/><\/p>\r\n<p><strong>Summary of Singapore Technologies Engineering (SGX: S63) Performance YTD<\/strong><br \/>SGD 8.66 (+85.84% YTD)<\/p>\r\n<p>52-Week High: SGD 8.94<\/p>\r\n<p>&nbsp;<\/p>\r\n<h3><strong>Business Lines Operated by ST Engineering<\/strong><\/h3>\r\n<p>ST Engineering (STE) operates in 3 key segments:<br \/><br \/>1.<strong> Defence &amp; Public Security (44% of FY24 Revenue):<\/strong> Includes <strong>cybersecurity\u00a0<\/strong><br \/>2. <strong>Commercial Aerospace (39%):<\/strong> Aircraft Maintenance, Repair, and Overhaul (MRO) services<br \/>3.<strong> Urban Solutions &amp; Satcom (17%): <\/strong>Smart city solutions, rail projects, utilities, satellite communication (satcom)<\/p>\r\n<p>&nbsp;<\/p>\r\n<h3><strong>Key Drivers for Prices for ST Engineering<\/strong><\/h3>\r\n<p>STE has been by far the <strong>best performing stock in the STI this year, <\/strong>with order backlog at a record S$29.8b, and S$7.3b expected to be delivered for the rest of the year. 23% of revenue is generated from the US, 19% from Europe, and 51% from Asia.<\/p>\r\n<p>&nbsp;<\/p>\r\n<p>1Q25 revenue rose 8% YoY, driven by 18% growth in the defence segment. We <strong>expect STE to be able to sustain its current pace of revenue growth given that:\u00a0<\/strong><\/p>\r\n<p>&nbsp;<\/p>\r\n<ul>\r\n<li>The stock has been driven by a<strong> global increase in defence spending<\/strong>, especially in Europe, as NATO members have agreed to raise annual defence spending from current floor of 2% of GDP to 5% of GDP by 2035<\/li>\r\n<li><strong>Defence-segment growth<\/strong> will be boosted by rising demand for AI-enabled command and controls, as well as cybersecurity infrastructure<\/li>\r\n<li><strong>Singapore also raised its defence spending by 12% for the current FY<\/strong><\/li>\r\n<li><strong>Commercial aerospace<\/strong> should also see increased demand for MRO, as more airlines expand their networks and more aircrafts return to service &#8211; driving maintenance needs<\/li>\r\n<li>The company observed<strong> immaterial financial impact from tariffs<\/strong><\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<h3><strong>\u6700\u8fd1\u7684\u53d1\u5c55<\/strong><\/h3>\r\n<p>More recently, ST Engineering secured some new contracts which could potentially keep its prices elevated in 2H2025. Below, please find a summary of the key contracts secured by the rapidly rising home grown company:<\/p>\r\n<p>&nbsp;<\/p>\r\n<ul>\r\n<li>STE secured contracts worth about <strong>S$4.7B<\/strong> in <strong>2Q25<\/strong><\/li>\r\n<li><strong>S$1.5b<\/strong> , <strong>commercial aerospace<\/strong><\/li>\r\n<li><strong>S$1.5b<\/strong> , <strong>defence and public security<\/strong><\/li>\r\n<li><strong>S$1.7b<\/strong> , <strong>urban solutions and satcom<\/strong> (Satellite communications)<\/li>\r\n<li><strong>5-year MRO<\/strong> (Maintenance, Repair, Overhaul) agreement with Air Cairo and a contract with Saudi Arabia&#8217;s Saudi Telecom Company (STC) to upgrade and expand its ground network to advance satellite communication services<\/li>\r\n<\/ul>\r\n<p>&nbsp;<\/p>\r\n<p class=\"font-size-18\"><strong data-start=\"2585\" data-end=\"2631\"><a href=\"https:\/\/accountopening.phillipnova.com.sg\/?aeCode=3TGroPiC9Ej99gm97ckHCs9fHJMF0b&amp;source=Stocks_Product&amp;utm_source=Market%20Trends&amp;utm_medium=Article&amp;utm_campaign=Stocks%20-%20STEng&amp;utm_content=PFSG\"><img decoding=\"async\" class=\"alignnone wp-image-41019 size-large\" src=\"https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/SG_prospecting-banner_1200x628-1024x536.jpg\" alt=\"\" width=\"800\" height=\"419\" srcset=\"https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/SG_prospecting-banner_1200x628-1024x536.jpg 1024w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/SG_prospecting-banner_1200x628-300x157.jpg 300w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/SG_prospecting-banner_1200x628-768x402.jpg 768w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/SG_prospecting-banner_1200x628-18x9.jpg 18w, https:\/\/www.phillipnova.com.sg\/wp-content\/uploads\/2025\/07\/SG_prospecting-banner_1200x628.jpg 1200w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><br \/><\/strong><\/p>\r\n<p class=\"font-size-18\">Trade ST Engineering and other Singapore stocks (with no minimum commission) on Phillip Nova 2.0 now!\u00a0<a href=\"https:\/\/accountopening.phillipnova.com.sg\/?aeCode=3TGroPiC9Ej99gm97ckHCs9fHJMF0b&amp;source=Stocks_Product&amp;utm_source=Market%20Trends&amp;utm_medium=Article&amp;utm_campaign=Stocks%20-%20STEng&amp;utm_content=PFSG\"><strong>Click here to open an account now!<\/strong><\/a><\/p>\r\n<p data-start=\"2585\" data-end=\"2809\">\u00a0<\/p>\r\n\r\n\r\n\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<div class=\"wp-block-group is-layout-flow wp-block-group-is-layout-flow\">\n<h2 class=\"wp-block-heading\">Trade CFDs, ETFs, Forex, Futures, Options, Precious Metals, and Stocks&nbsp;on NOVA<\/h2>\n\n\n\n<div class=\"wp-block-columns is-layout-flex wp-container-core-columns-is-layout-7387b849 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:66.66%\">\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h4 class=\"wp-block-heading\">Features of trading on NOVA<\/h4>\n\n\n\n<div style=\"height:20px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>\u8bbf\u95ee 20 \u591a\u4e2a\u5168\u7403\u4ea4\u6613\u6240 <\/strong><br>\u4ece 20 \u591a\u4e2a\u5168\u7403\u4ea4\u6613\u6240\u7684 200 \u591a\u4e2a\u5168\u7403\u671f\u8d27\u4e2d\u6355\u6349\u673a\u4f1a<br><\/li>\n\n\n\n<li><strong>\u5168\u7403\u80a1\u7968\u7684\u4ea4\u6613\u673a\u4f1a<\/strong><br>Over 11,000 Stocks and ETFs across Singapore, US, China, Hong Kong, Malaysia and Japan markets.<br><\/li>\n\n\n\n<li><strong>Charting Powered by TradingView<\/strong><br>View live charts and gain access to over 100 technical indicators<br><\/li>\n\n\n\n<li><strong>True Multi-Asset Trading<\/strong><br>Trade CFDs, ETFs, Forex, Futures, Options, Precious Metals and Stocks on a single ledger on NOVA<br><\/li>\n\n\n\n<li><strong>USD &amp; SGD Shares Margin Rate at Only 4.5% p.a<\/strong><br><\/li>\n\n\n\n<li><strong>Fractional Shares from US$1<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Start investing in fractional shares from US$1 notional value, at US$0.38 commission per order.<\/p>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-layout-flow wp-block-column-is-layout-flow\" style=\"flex-basis:33.33%\">\n<div style=\"height:65px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button is-style-fill\"><a class=\"wp-block-button__link has-text-color has-background wp-element-button\" href=\"https:\/\/demo.phillipnova.com.sg\/?utm_content=PFSG&amp;culture=zh-CN\" style=\"border-radius:4px;color:#fffffa;background-color:#fba64d\">Free NOVA Demo Account<\/a><\/div>\n\n\n\n<div class=\"wp-block-button is-style-outline is-style-outline--1\"><a class=\"wp-block-button__link has-text-color wp-element-button\" href=\"https:\/\/www.phillipnova.com.sg\/cn\/open-an-account\/\" style=\"border-radius:4px;color:#fba64d\">\u5feb\u901f\u5b89\u5168\u7684\u5728\u7ebf\u5f00\u6237<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>ST Engineering (SGX: S63) has grown 85.84% YTD, but what\u2019s driving the growth? Let\u2019s find out.<\/p>","protected":false},"featured_media":41391,"template":"","class_list":["post-41387","market_trends","type-market_trends","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>ST Engineering (SGX: S63) has grown 85.84% YTD, but what\u2019s driving the growth? Let\u2019s find out. - Phillip Nova - Bringing global markets closer to you<\/title>\n<meta name=\"description\" content=\"ST Engineering (SGX: S63) has grown 85.84% YTD, but could we see more upside in 2025? 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