ST Engineering Annual Report 2020

Group Note 2020 2019 $’000 $’000 Cash flows from investing activities Proceeds from sale of property, plant and equipment 8,741 118,172 Proceeds from disposal of an associate and joint ventures – 6,095 Proceeds from sale of investments 984 – Purchase of property, plant and equipment (200,301) (290,124) Purchase of investments (7,272) – Additions to other intangible assets (86,832) (104,435) Dividends from associates and joint ventures 13,273 47,839 Investments in associates and joint ventures (4,868) (28,767) Repayment of loans by joint ventures 569 19,661 Loan to associates and joint ventures (19,461) – Acquisition of controlling interests in subsidiaries, net of cash acquired – (1,050,121) Disposal of subsidiaries, net of cash disposed – 8,855 Net cash used in investing activities (295,167) (1,272,825) Cash flows from financing activities Proceeds from bank loans 370,131 1,079,911 Proceeds from MTN issuance 1,058,400 – Proceeds from commercial papers 524,092 1,440,175 Proceeds from other loans 19,565 – Proceeds from finance lease receivables 3,209 844 Repayment of bank loans (743,080) (1,119,271) Repayment of commercial papers (1,570,209) – Repayment of lease liabilities (61,271) (92,894) Repayment of loan to a joint venture – (4,000) Purchase of treasury shares (29,154) (43,768) Capital contribution from non-controlling interests of subsidiaries 13,260 4,263 Return of capital to non-controlling interests of a subsidiary – (8,652) Dividends paid to shareholders of the Company (468,035) (468,156) Dividends paid to non-controlling interests (17,319) (12,247) Interest paid (58,338) (56,213) Deposits (pledged)/discharged (10) 245 Net cash (used in)/from financing activities (958,759) 720,237 Net increase in cash and cash equivalents 278,890 37,374 Cash and cash equivalents at beginning of the year 452,095 414,400 Exchange difference on cash and cash equivalents at beginning of the year (1,506) 321 Cash and cash equivalents at end of the year C8 729,479 452,095 The accompanying notes are an integral part of the financial statements. CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS) 15 7 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT