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Singapore Electronics Industry News

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Industry 4.0 smarts vital to maintain Singapore's edge in manufacturing

SINGAPORE'S faster-than-expected expansion of manufacturing output in March, by 10.2 per cent, has cheered economists who now say that first-quarter gross domestic product (GDP) may have expanded at a faster rate than previously thought.

On a three-month moving average basis, manufacturing output rose 8 per cent in March compared to the year-ago period.

The importance of the manufacturing ...more

Explosive electronics demand expected to propel Q1 GDP growth

Singapore

SUSTAINED strong demand for electronics in the region has led to a faster-than-expected expansion in Singapore's manufacturing output - and potentially its economy.

Some economists, after seeing the strong expansion in industrial production in March, now say that the trade-reliant city-state's gross domestic product (GDP) in the first quarter is expected to have expanded ...more

Robotic process automation firm raises US$30m to fund expansion

Singapore

ROBOTIC process automation (RPA) software company UiPath has received Series A funding of US$30 million that will help accelerate its global expansion and product development, as it aims to turn itself into an artificial intelligence-centric (AI-centric) firm in two years.

Founded in Romania, the United States-based company on Thursday said the funding is led by Accel, with ...more

ST Kinetics to develop autonomous vehicles

Singapore

ST Kinetics will develop two autonomous buses and four self-driving shuttles here in its first major non-defence venture, with the results of this commercial undertaking likely to be exported to other cities with similar land transport challenges.

The unit of ST Engineering will partner the Land Transport Authority (LTA) to conduct trials for the autonomous buses, which ...more

March manufacturing growth points to potential recovery

Singapore

SINGAPORE'S manufacturing sector expanded more quickly in March, recording its seventh consecutive month of expansion and thus signalling a possible manufacturing recovery.

The Purchasing Managers' Index (PMI), a leading economic indicator, showed a 51.2 reading - the highest since November 2014, compared to February's reading of 50.9.

Economists described the pickup ...more

Factory output up 12.6%, beating expectations

The buoyant mood in manufacturing continues unabated as the sector logged yet another month of better-than-expected growth.

Factory output surged 12.6 per cent in February over the same month last year - stronger than economists' expectations of a 10 per cent rise.

The sector, which makes up one-fifth of the economy, is benefiting from a more sanguine global outlook and strong demand ...more

ST Engineering to enter new phase of growth: CEO

Singapore

SINGAPORE Technologies (ST) Engineering is set to enter a new phase of business to address its flat growth, chief executive Vincent Chong revealed in an interview published in the firm's 2016 annual report.

In his first public comments about the group since taking over as chief executive last October, Mr Chong said that he plans to increase cross-sector collaboration within ...more

NODX up 21.5% in February, the biggest rise in 5 years

Singapore

NON-oil domestic exports (NODX) surged 21.5 per cent year-on-year in February, beating market expectations and expanding for a fourth straight month.

The rise, the strongest on-year growth in five years, came after an increase of 8.6 per cent in January, 9.1 per cent in December and 15.6 per cent in November.

Private-sector economists expect the expansion to continue ...more

Brighter outlook for Singapore's trade-dependent sectors, dimmer prospects at home

Singapore

A TWO-SPEED economy has emerged in Singapore, going by the latest survey among private-sector economists, the results of which were released on Wednesday.

At least for now, they agree that external-facing indicators are strong enough to warrant their revising growth rates upwards from the previous survey.

They also agree that domestic-oriented indicators are weaker, ...more

Infineon upgrades its Singapore plant into smart factory

Singapore

GERMAN semiconductor giant Infineon Technologies is spending 70 million euros (S$105.2 million) in the five years to 2021 to develop a "smart factory" at its backend manufacturing plant in Singapore.

The plant will develop a smart enterprise programme entailing digital, horizontal and vertical integration of its manufacturing value chain, guided along by the principles of ...more

Singapore manufacturing expands again in February but at a slower clip

Singapore

SINGAPORE'S manufacturing sector continued expanding in February for the sixth consecutive month, albeit at a marginally slower rate.

The Purchasing Managers' Index (PMI) stood at 50.9 - down 0.1 point from January - as a result of a slower expansion rate in factory output, new orders, new exports and lower imports.

Economists said the drag in expansion could possibly ...more

Venture Corp Q4 profit jumps 21%

Singapore

VENTURE Corp posted a 20.6 per cent jump in fourth quarter net profit to S$54.05 million from S$44.82 million a year ago, buoyed by higher revenue growth and better operational performance across its facilities.

The electronics manufacturing giant reported a 23.1 per cent climb in revenue to S$854.6 million from S$694.0 million.

This was attributed to new product ...more

ST Electronics, DSTA partner to further satellite development and use

Singapore

SINGAPORE Technologies Electronics (ST Electronics) on Thursday announced a partnership with the Defence Science & Technology Agency (DSTA) to develop the next-generation Earth Observation Satellite, TeLEOS-2.

Speaking at the Global Space Technology Convention (GSTC) 2017, Minister for Trade and Industry (Industry) S Iswaran said the partnership is the next step in furthering ...more

Philips a high-fryer in food-loving S'pore

An appliance that deep-fries food without using oil may not seem like something for those embracing healthy living but its popularity may be a sign that Singaporeans see the need for a balanced lifestyle.

The Philips airfryer has certainly conquered kitchens here since it was launched in 2011, and this appears to validate electronics giant Philips' bet on healthcare.

Mr Srikanth ...more

Manufacturing helps power growth of 2% last year

Brighter prospects for manufacturing reflected in new official data have prompted some economists to raise their forecasts for Singapore's economic growth this year.

But the outlook is not cheery across the board, analysts say. Other sectors are still stuck in the slow lane and a host of risks remain, including mounting geopolitical uncertainty and lacklustre sentiment.

Even as ...more
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