ST Engineering Annual Report 2020

Group Note 2020 2019 $’000 $’000 Non-current liabilities Contract liabilities C13 792,617 422,992 Trade payables and accruals C9 19,338 57,983 Provisions C11 29,801 16,994 Deferred tax liabilities B6 166,520 174,732 Borrowings E4 1,550,560 468,895 Deferred income C12 50,475 34,309 Post-employment benefits D3 462,548 380,061 Derivative financial instruments C16 18,686 27,900 3,090,545 1,583,866 Total liabilities 6,986,536 7,030,274 Net assets 2,574,789 2,491,001 Share capital and reserves Share capital E6 895,926 895,926 Treasury shares E7 (23,743) (26,731) Capital reserves E8 107,034 112,563 Other reserves E9 (89,017) (149,445) Retained earnings 1,402,414 1,389,966 Equity attributable to owners of the Company 2,292,614 2,222,279 Non-controlling interests F3 282,175 268,722 2,574,789 2,491,001 Total equity and liabilities 9,561,325 9,521,275 The accompanying notes are an integral part of the financial statements. CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS) 15 1 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT