NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) E4 Borrowings (continued) (a) Bank loans Currency Effective interest rate Maturity Group 2022 % 2021 % 2022 2021 2022 $’000 2021 $’000 Bank loans USD 1.0 – 5.8 1.0 – 5.0 2023 2022 – 2023 689,458 143,422 EUR 1.4 – 1.6 1.4 – 1.6 2026 – 2030 2026 – 2029 52,247 63,344 SGD 3.0 – 2023 – 165,000 – 906,705 206,766 - Unsecured 869,947 162,643 - Secured 36,758 44,123 At the end of the year 906,705 206,766 There are bank loans which are secured by assets as follows: Secured by Loan amount ($) Certain property, plant and equipment of subsidiaries – $23,229,000 (2021: $28,738,000) Subsidiary’s land use right – $13,529,000 (2021: $15,385,000) All bank loans are denominated in the respective entities’ functional currency. (b) Commercial papers Group 2022 $’000 2021 $’000 Principal 2,702,583 351,416 Unamortised interest (3,699) (463) Unamortised costs (227) (84) 2,698,657 350,869 228 ST ENGINEERING ANNUAL REPORT 2022
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