NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F4 Associates and joint ventures (continued) Associates (continued) Name of associate 2021 Shanghai Technologies Aerospace Company Limited $’000 ST Aerospace (Guangzhou) Aviation Services Company Limited $’000 Percentage of interest 49% 44% Revenue 47,454 68,760 Profit/(loss) after taxation (6,120) 7,795 Other comprehensive income 5,392 5,009 Total comprehensive (loss)/income (728) 12,804 Attributable to NCI – – Attributable to investee’s shareholders (728) 12,804 Non-current assets 83,937 115,641 Current assets 58,500 45,730 Non-current liabilities (1,337) (19,321) Current liabilities (18,794) (23,019) Net assets 122,306 119,031 Attributable to NCI – – Attributable to investee’s shareholders 122,306 119,031 Group’s interest in net assets of investee at beginning of the year 61,988 46,739 Group’s share of: - Profit/(loss) for the year (2,999) 3,430 - Total other comprehensive income 2,642 2,205 Total comprehensive income/(loss) (357) 5,635 Group’s contribution during the year – – Dividends received during the year (1,701) – Carrying amount of interest in investee at end of the year 59,930 52,374 Fair value changes of unquoted investments held by the Group’s Corporate Venture Capital Unit is recognised in Other income/(expenses) in the income statement. 252 ST ENGINEERING ANNUAL REPORT 2022
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