ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) B6 Taxation (continued) (ii) Deferred tax assets and liabilities (continued) (d) Movement in deferred tax balances during the year: Group As at 1 January 2019 Recognised in profit or loss Recognised in other comprehensive income Acquisition/ deconsolidation of subsidiaries $’000 $’000 $’000 $’000 Property, plant and equipment 111,018 (21,603) – 3,251 Intangible assets 178,154 (16,570) – 15,924 Allowance for doubtful debts (1,721) (294) – – Allowance for inventory obsolescence (20,396) (6,657) – (21) Provisions and accruals (110,042) (22,750) – 1,814 Lease liabilities – (758) – – Unabsorbed capital allowances and unutilised tax losses (56,682) (22,321) (64) (1,894) Fair value of derivative financial instruments designated as cash flow hedges (6,917) (74) (3,132) – Fair value of defined benefit plans (13,798) (202) (13,898) – Other items 18,974 9,117 (4,728) (61) 98,590 (82,112) (21,822) 19,013 / ST ENG I NEER I NG 174