ST Engineering Annual Report 2020

DIRECTORS' STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) DIRECTORS’ INTERESTS (continued) Holdings in the name of the director, spouse or infant children 1 January 2020 or date of appointment 31 December 2020 Related Corporations Temasek Financial (I) Limited T2028 USD 10-year Temasek Bond 3.625% coupon due August 2028 Lim Chin Hu US$250,000* 3 US$250,000* 3 Temasek Financial (IV) Private Limited T2023 SGD Temasek Bond S$500m 2.70% coupon due October 2023 Quek Gim Pew S$14,000 S$14,000 Quek See Tiat S$7,000 S$7,000 @ CapitaLand Commercial Trust Management Limited has merged with CapitaLand Mall Trust (renamed as CapitaLand Integrated Commercial Trust with effect from 3 November 2020), and subsequently delisted from SGX-ST on 3 November 2020. * 1 Includes interest in 300,000 shares in Singapore Technologies Engineering Ltd, held in trust by a trustee company on behalf of the director. * 2 Includes interest in 60,000 shares in Singapore Technologies Engineering Ltd, held in trust by a trustee company on behalf of the director. * 3 Held in trust by a trustee company on behalf of the director. * 4 Includes interest in 17,555 unit holdings in Ascendas Funds Management (S) Limited, held in trust by a trustee company on behalf of the director. * 5 Includes interest in 10,000 unit holdings in Mapletree Industrial Trust Management Ltd, held in trust by a trustee company on behalf of the director. * 6 Includes interest in 37,100 unit holdings in Mapletree Industrial Trust Management Ltd, held in trust by a trustee company on behalf of the director. * 7 Includes interest in 189,279 shares in Olam International Limited, held in trust by a trustee company on behalf of the director. #1 A minimum threshold performance over a 3-year period is required for any performance shares to be released and the actual number of performance shares to be released is capped at 170% of the conditional award. #2 For this period, Mr Vincent Chong Sy Feng was awarded 439,960 shares based on partial achievement of targets set. The balance of the conditional award covering the period from 2017 to 2019 has thus lapsed. #3 Balance of unvested restricted shares to be released according to the stipulated vesting periods. #4 Restricted shares will vest annually over four years, subjected to the recipients’ continued employment with the Group and maintaining a satisfactory performance rating for the financial year preceding each tranche of vesting. #5 This conditional award is subject to a performance target set over a one-year performance period from 1 January 2020 to 31 December 2020. If the performance target is attained, the restricted shares comprised in this conditional award will be released according to the stipulated vesting periods. The restricted shares will vest annually over four years, subject to the recipient’s continued employment with the Group and maintaining a satisfactory performance rating for the financial year preceding each tranche of vesting. There was no change in any of above-mentioned Directors’ interest in the Company between the end of the financial year and 21 January 2021. / ST ENG I NEER I NG 132