ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C1 Property, plant and equipment (continued) Reclassifications due to changes in the use of assets: (a) Property, plant and equipment with net book value amounting to $19,848,000 (2019: $1,850,000) were reclassified to inventories; (b) Asset under construction with net book value of $2,217,000 (2019: $915,000) were reclassified to intangibles on completion; (c) Inventories of $4,418,000 (2019: $4,791,000) were reclassified to property, plant and equipment; There were no movements in the following amounts carried at valuation from 1 January 2020 to 31 December 2020. Group Valuation Accumulated depreciation Net book value $’000 $’000 $’000 At Valuation Buildings and improvements on leasehold land 1,919 1,919 – Wharves, floating docks and boats 5,930 5,930 – Plant and machinery 1,683 1,683 – Furniture, fittings, office equipment and others* 285 285 – Total 9,817 9,817 – * Others comprise transportation equipment, vehicles and satellites / ST ENG I NEER I NG 180