NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F4 Associates and joint ventures Group 2022 $’000 2021 $’000 Unquoted shares, at fair value 15,460 34,215 Unquoted shares, at cost 382,617 360,580 Goodwill on acquisition 38 38 Share of net assets acquired 382,655 360,618 Impairment in associates (8,000) (8,000) Share of post-acquisition reserves 78,060 96,064 452,715 448,682 468,175 482,897 Represented by: Interest in associates 313,236 347,561 Interest in joint ventures 154,939 135,336 468,175 482,897 248 ST ENGINEERING ANNUAL REPORT 2022
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