ST Engineering Annual Report 2020

INDEPENDENT AUDITOR’S REPORT TO THE MEMBERS OF SINGAPORE TECHNOLOGIES ENGINEERING LTD REPORT ON THE AUDIT OF THE FINANCIAL STATEMENTS Our Opinion In our opinion, the accompanying consolidated financial statements of Singapore Technologies Engineering Ltd (“the Company”) and its subsidiaries (“the Group”) are properly drawn up in accordance with the provisions of the Companies Act, Chapter 50 (“the Act”) and Singapore Financial Reporting Standards (International) (“SFRS(I)s”) so as to give a true and fair view of the consolidated financial position of the Group and the financial position of the Company as at 31 December 2020 and of the consolidated financial performance, consolidated changes in equity and consolidated cash flows of the Group for the year ended on that date. What we have audited The financial statements of the Group and the Company comprise: • the consolidated income statement of the Group for the year ended 31 December 2020; • the consolidated statement of comprehensive income of the Group for the year then ended; • the consolidated balance sheet of the Group as at 31 December 2020; • the consolidated statement of changes in equity of the Group for the year then ended; • the consolidated statement of cash flows of the Group for the year then ended; • the notes to the financial statements, including a summary of significant accounting policies; • the balance sheet of the Company as at 31 December 2020; and • the notes to the balance sheet of the Company, including a summary of significant accounting policies. 13 9 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT