NOTES TO THE STATEMENTS OF FINANCIAL POSITION OF THE COMPANY AS AT 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) 2. Property, plant and equipment (continued) Buildings and improvements $’000 Furniture, fittings, office equipment and others $’000 Constructionin-progress $’000 Total $’000 2021 Cost At 1 January 2021 6 2,124 1,191 3,321 Additions – 80 – 80 Disposals (6) (1,748) (1,155) (2,909) Transfer – 36 (36) – At 31 December 2021 – 492 – 492 Accumulated depreciation At 1 January 2021 3 1,181 – 1,184 Depreciation charge – 279 – 279 Disposals (3) (1,113) – (1,116) At 31 December 2021 – 347 – 347 Net book value At 31 December 2021 – 145 – 145 3. Subsidiaries 2022 $’000 2021 $’000 Equity investments at cost At beginning of the year 1,479,070 1,363,251 Additions 58,841 1,415,530 Transfers to subsidiaries – (1,291,123) Impairment – (8,588) At end of the year 1,537,911 1,479,070 In the prior year, the Company transferred its investments in certain subsidiaries to ST Engineering IHQ Pte. Ltd. and ST Engineering Holdings GmbH, which are the regional investment holding companies of the Group, of $761,276,000 and $511,494,000 respectively. 266 ST ENGINEERING ANNUAL REPORT 2022
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