Fine-tuning our ST Engineering Assumptions, FVE Remains at SGD 3.30
Following clarification from ST Engineering, or STE, and our additional assessments, we have tweaked our assumptions leading to a 5% rise in our 2017 profit but 3%-4% reductions in subsequent year earnings forecasts. The adjustments encompass lower effective tax rates following the cut in the U.S. corporate tax rate that will come into effect in 2018 that is offset by a reduction in our assumption for ST Aerospace's gross margin. The net impact leaves little change in our cash flow forecast and ...Singapore Technologies Engineering is an investment holding company. Co. and its subsidiaries have four business sectors: Aerospace, which provides a range of aircraft maintenance, engineering and training services for both military and commercial aircraft operators; Electronics, which engages in the design, development and integration of electronics and communications systems; Land Systems, which delivers integrated land systems, specialty vehicles and their related through-life support; and Marine, which provides customised shipbuilding, repair and conversion services to both naval and commercial vessels, at Co.'s yards in Singapore and the U.S.
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