ST
Engineering and DSO Set Up JV for Satellite Analytics
and New Space Technologies
14 February 2019
Singapore Technologies Engineering
Ltd electronics arm has signed an agreement with DSO
National Laboratories (DSO) to set up a joint venture
company (JVCo). ST Engineering’s planned investment of
US$3m (about S$4.1m) is for a 51% stake in the JVCo,
with the remaining 49% to be held by DSO.
The JVCo, to be named ST
Engineering Geo-Insights Pte. Ltd., will leverage the
strengths of its parent companies to offer analytics,
information products and value-added services based on
satellite imagery to address growing global demand for
timely insights that enable better and faster business
decisions. The JVCo also intends to tap on emerging new
space technologies to pursue potential business
opportunities for low cost small satellites, or smallsat
constellation design, development, manufacturing and
operation.
“We are excited by this joint
venture with DSO. Leveraging the complementary strengths
of both organisations, we will offer advanced geospatial
analytics to the global market and exploit the vast
possibilities in smallsat constellation for commercial
applications. This joint venture will enhance the space
eco-system in Singapore as we work with industry
partners to commercialise geospatial services and new
space technologies,” said Mr Ravinder Singh, President,
Electronics, ST Engineering.
“This is DSO's third joint venture
with ST Engineering. We share a common vision to support
the growth of Singapore's space industry. DSO is happy
to be able to contribute our research and systems
engineering competencies, as well as geospatial analytic
capabilities to the success of this vision,” said Mr
Cheong Chee Hoo, Chief Executive Officer, DSO National
Laboratories.
The satellite
industry is being disrupted by technological advances
that enable faster development and launch of lower cost
yet reliable high resolution small satellite
constellations, making large volumes of satellite
imagery readily available. This, coupled with the
advancement of data analytics and machine learning
technologies, are empowering customers with critical
insights to drive business growth and smart city
applications. Some of these include the remote detection
of real-time changes of on-site infrastructure
development projects; movement of ships for enhanced
maritime safety; as well as precision agriculture
mapping for enhanced yield and sustainability.
The agreement was signed by Mr
Cheong Chee Hoo and Mr Ravinder Singh at the Global
Space and Technology Convention (GSTC) 2019 today, and
witnessed by Mr Chan Chun Sing, Minister for Trade &
Industry, and Mr Vincent Chong, President & CEO of ST
Engineering.
The setup of this JVCo is not
expected to have any material impact on the consolidated
net tangible assets per share and earnings per share of
ST Engineering for the current financial year.
Australasia Satellite Forum 2019
The Westin Hotel, Sydney, Australia
21 & 22 May 2019
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