NOTES TO THE STATEMENTS OF FINANCIAL POSITION OF THE COMPANY AS AT 31 DECEMBER 2022 (CURRENCY - SINGAPORE DOLLARS UNLESS OTHERWISE STATED) 4. Associates 2022 $’000 2021 $’000 Equity investments at cost At beginning of the year – 17,657 Transfer to a subsidiary – (17,657) At end of the year – – 5. Amounts due from / to related parties Amounts due from / to related parties were non-trade related, unsecured, interest-free and repayable on demand. 6. Bank balances and other liquid funds 2022 $’000 2021 $’000 Cash and bank balances 98 145 Amounts placed with a related corporation 117,781 82,110 Bank balances and other liquid funds 117,879 82,255 At the balance sheet date, the amounts placed with a related corporation, ST Engineering Treasury Pte. Ltd., under a cash pooling arrangement bears interest ranging from 0% to 4.0% (2021: 0%) per annum. The cash pooling arrangement administered by ST Engineering Treasury Pte. Ltd. is operated at the instructions of the Company. These amounts placed with a related corporation are subjected to an arrangement with a bank where bank balances are transferred from / to a bank account of the related corporation on a daily basis. 7. Other payables and accruals 2022 $’000 2021 $’000 Accrued operating expenses 4,255 3,526 8. Share capital, treasury shares, capital reserves and other reserves • Share capital and treasury shares have been explained and disclosed in E6 and E7. • Capital reserve is relating to realised gain or loss on re-issuance of treasury shares under share-based payment arrangements as explained and disclosed in E8. • Other reserve is relating to share-based payment reserve as explained and disclosed in E9. CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT 267
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