Key Stock Market Highlights of the Week: ST Engineering’s Satellite Downgrade, Seatrium’s Order Gains, AMD’s AI Surge, and Cisco’s Profit Margin

This week saw contrasting developments as Singapore’s tech giants experienced different trajectories, while US tech stocks rose sharply on renewed confidence in the economy. artificial intelligence infrastructure expenditure. From significant write-downs to record order books and AI-driven revenue growth, these developments underline the rapidly evolving landscape in both the traditional engineering and advanced technology sectors. Welcome to this week’s edition of the major stock market highlights.

Satellite setback from ST Engineering

Singapore Technologies Engineering (SGX: S63) announced a significant non-cash impairment charge of S$667 million on its satellite communications subsidiary iDirect on November 12, 2025, reducing the unit’s carrying value from S$837 million to just S$170 million. The massive writedown reflects the rapidly evolving satellite industry, where non-geostationary Satellite Orbit (NGSO) operators such as Starlink and Kuiper are disrupting traditional players. These newcomers have deployed more than 2,600 and 150 satellites respectively and introduced proprietary ground systems that reduce dependence on third-party equipment providers such as iDirect. The unit’s revenue fell 9% year-on-year in the first nine months of 2025, while EBITDA fell 22%.