ST Engineering Annual Report 2020

Group Note 2020 2019 $’000 $’000 ASSETS Non-current assets Property, plant and equipment C1 1,756,944 1,805,034 Right-of-use assets C2 538,809 483,975 Associates and joint ventures F4 468,912 453,419 Investments E3 23,138 16,178 Intangible assets C3 1,946,138 1,980,215 Long-term trade receivables 1,524 1,668 Deferred tax assets B6 149,387 111,595 Amounts due from related parties C4 8,547 4,806 Advances and other receivables C7 58,248 11,849 Derivative financial instruments C16 20,847 13,351 Post-employment benefits D3 319 – 4,972,813 4,882,090 Current assets Contract assets C13 1,153,192 1,246,207 Inventories C5 1,269,192 1,311,858 Trade receivables C6 1,047,844 1,245,881 Amounts due from related parties C4 46,305 35,661 Advances and other receivables C7 317,741 339,709 Short-term investments E3 – 604 Derivative financial instruments ^ C16 23,614 6,035 Bank balances and other liquid funds C8 730,624 453,230 4,588,512 4,639,185 Total assets 9,561,325 9,521,275 EQUITY AND LIABILITIES Current liabilities Contract liabilities C13 1,141,484 1,043,215 Deposits from customers 12,838 9,291 Trade payables and accruals C9 1,667,568 1,985,521 Amounts due to related parties C10 23,833 70,007 Provisions C11 306,758 233,459 Provision for taxation 163,703 195,059 Borrowings E4 496,335 1,868,812 Deferred income C12 70,922 2,403 Post-employment benefits D3 7,996 11,265 Derivative financial instruments ^ C16 4,554 27,376 3,895,991 5,446,408 Net current assets/(liabilities) 692,521 (807,223) ^ Derivative financial instruments – under current assets and current liabilities in the prior year were reclassified fromadvances and other receivables and trade payable and accruals to be presented separately on the Consolidated Balance Sheet in conformity with current year presentation. The accompanying notes are an integral part of the financial statements. CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS) / ST ENG I NEER I NG 150