The overall market environment in 2016 remained challenging, driven by significant events happening around the world, as well as the intensifying competition within the industry. Despite the challenges, Ntegrator achieved a strong performance as revenue rose 29.8% for FY2016. This underscores the Group's success in tailoring its business strategy to focus on Ntegrator's core businesses of Project Sales, as well as Project Management and Maintenance Services. During the year, the Group grew its presence in Singapore, its home market, as well as in Vietnam. Through establishing greater foothold in its key markets, the Group was able to remain resilient in the face of a challenging market environment.
In FY2016, the Group successfully secured seven new contracts with a combined value of approximately S$43.1 million. The stable flow of contract wins is testament to Ntegrator's expertise in this field.
The Group's long-standing relationships with its repeat customers also continues to play a pivotal role in supporting Ntegrator's business development and growth.
In Singapore, the Infocomm Media 2025 plan continues to drive the creation of a globally competitive infocomm ecosystem that enables and complements Singapore's Smart Nation vision. The governmental support towards the industry bodes well for the Group and has enabled Ntegrator to secure several contracts in Singapore. In May 2016, the Group was awarded three contracts in Singapore. The first was awarded by a Singapore-based service provider and involved the supply, installation and commissioning of optical distribution frames and all fiber cabling accessories. The remaining two contracts were awarded by a Singapore-based regional service provider, and involved the provision of pipeline installation and maintenance services, as well as the supply of telecommunications equipment.
The Group continued to leverage on its strong working relationship with Viettel, Vietnam's largest mobile network operator. In 2016, Ntegrator was awarded three contracts for the supply of high-performance batteries to Viettel. In particular, the contract secured in October 2016 worth approximately S$20.8 million is the single largest supply contract placed to-date by Viettel under a frame contract signed in 2015. The contract wins marked a continuing affirmation of the Group's strong relationship with Viettel, as well as Ntegrator's ability to deliver quality product and services.
Myanmar remains a key growth area for the Group, supported by the country's fast-growing mobile market. In FY2016, Ntegrator received a few orders from Myanmar although no major contracts were secured. However, the Group remains committed to strengthening its business presence in the country. Tapping on past contracts with customers such as Myanmar's Directorate of Procurement, Myanmar Radio and Television, and Myanmar Economic Cooperation, the Group will continue to actively identify opportunities to deepen its network in Myanmar.
The Group's outstanding order book stood at S$36.2 million as at December 31, 2016, backed by repeat orders from customers in Singapore, Vietnam and Myanmar. A significant portion of these contracts is slated for completion in the coming financial year and is expected to contribute positively to Ntegrator's financial performance in the financial year ending December 31, 2017.Looking ahead, the Group will continue to focus on its core businesses, tapping on new and existing customers to strengthen its foothold in its key markets. The Group will also adopt an opportunistic yet prudent approach towards new opportunities in other markets.