NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F4 Associates and joint ventures (continued) Joint ventures (continued) Name of joint venture 2021 Keystone Holdings (Global) Pte. Ltd. $’000 Percentage of interest 50% Revenue 22,982 Profit/(loss) after taxation a 7,694 Other comprehensive income 944 Total comprehensive income/(loss) 8,638 a Includes: - Depreciation and amortisation of: (13,555) - Interest expense of: (3,784) - Income tax expense of: 869 Non-current assets 181,512 Current assets b 32,113 Non-current liabilities c (71,927) Current liabilities d (71,623) Net assets excluding goodwill 70,075 b Includes cash and cash equivalents of: 29,687 c Includes non-current financial liabilities (excluding trade and other payables and provisions) of: (71,927) d Includes current financial liabilities (excluding trade and other payables and provisions) of: (71,097) Group’s interest in net assets of investee at beginning of the year 36,376 Share of total comprehensive income/(loss) 4,319 Group’s (return of capital)/contribution during the year (3,752) Carrying amount of interest in a joint venture reclassified to a subsidiary – Disposal of joint venture – Dividends received during the year (1,906) Carrying amount of interest in investee at end of the year 35,037 256 ST ENGINEERING ANNUAL REPORT 2022
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