5 Singapore Stocks Warren Buffett Will Feel Comfortable Buying: Singapore Technologies Engineering
Singapore Technologies Engineering, or STE, is an engineering and technology conglomerate with businesses in the aerospace, smart city, and defence segments.
The blue-chip engineering group has a strong track record of garnering orders and bulking up its order book.
In 2022 alone, STE snagged a total of S$13.1 billion in new contracts, bringing its order book as of 31 December 2022 to S$23 billion.
The group’s revenue also jumped by 17.4% year on year to hit S$9 billion for 2022, in line with its increased order book.
Net profit excluding one-off items, government support and acquisition-related expenses surged 39% year on year to S$549 million.
STE paid out a quarterly dividend of S$0.04, bringing its 2022 dividend to S$0.16 in total.
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