By P.R. Venkat

Singapore Technologies Engineering's first-half net profit fell 4% on year, mainly to impairment on intangible assets, receivables.

Net profit was 257.4 million Singapore dollars ($187.5 million), ST Engineering said Friday.

Revenue was marginally up 2% on year at S$3.57 billion.

ST Engineering said the group's order book was at S$15.9 billion at end June and it expects to deliver S$3.2 billion of orders in the remaining part of this year.

"We are working to position the Group to come out of the pandemic stronger and more competitive. This means focusing on cost reduction, productivity and talent acquisition, organizing for growth and serving our customers better," Chief Executive Vincent Chong said. 



  Write to P.R. Venkat at venkat.pr@wsj.com