NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C4 Amounts due from related parties Group 2022 $’000 2021 $’000 Trade: Associates 5,540 7,514 Joint ventures 19,096 22,293 Related parties 23,215 25,464 47,851 55,271 Non-trade*: Associates 7,500 7,318 Joint ventures 115,617 62,755 Related parties 109 108 123,226 70,181 Allowance for doubtful debts (988) – 170,089 125,452 Receivable: Within 1 year 135,089 113,843 After 1 year 35,000 11,609 170,089 125,452 Amounts due from related parties denominated in currencies other than the respective entities’ functional currencies as at 31 December are $90,888,000 (2021: $62,985,000) denominated in USD. * Included in non-trade are: (a) a long term, unsecured, interest free loan of $4,456,000 (2021: $4,256,000) to an associate; (b) a long term, unsecured, 6% (2021: 6%) per annum interest bearing loan of $2,866,000 (2021: $3,062,000) to an associate, repayable in 2025; and (c) loans of $112,990,000 (2021: $61,034,000) to joint ventures, bearing interest ranging from 3.15% to 6.38% (2021: 0.71% to 6.38%) per annum, which are the effective interest rates. The loans are unsecured and repayable from 2023 to 2029 (2021: 2022 to 2029). 180 ST ENGINEERING ANNUAL REPORT 2022
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