NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C1 Property, plant and equipment (continued) Reclassifications due to changes in the use of assets: (a) Property, plant and equipment with net book value amounting to $29,165,000 (2021: $17,843,000) were reclassified to inventories; (b) Property, plant and equipment with net book value amounting to $nil (2021: $5,773,000) were reclassified to finance lease receivables; (c) Property, plant and equipment with net book value amounting to $90,000 (2021: $nil) were reclassified to intangibles; (d) Inventories of $32,000 (2021: $13,300,000) were reclassified to property, plant and equipment; Operating lease Included in the tables below are property, plant and equipment that the Group leases out, comprising aircraft and aircraft engines, furniture, fittings, office equipment and others*. The Group has classified these leases as operating leases, because they do not transfer substantially all of the risks and rewards incidental to the ownership of the assets. Movements in these assets that are subject to operating leases are presented below. * Others comprise transportation equipment, vehicles and satellites 166 ST ENGINEERING ANNUAL REPORT 2022
RkJQdWJsaXNoZXIy NjMyNDM=