ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C4 Amounts due from related parties Group 2020 2019 $’000 $’000 Trade: Associates 6,927 3,360 Joint ventures 16,109 24,720 Related parties 7,444 7,376 30,480 35,456 Non-trade*: Associate 4,256 – Joint ventures 20,608 4,955 Related parties 116 56 24,980 5,011 Allowance for doubtful debts (608) – 54,852 40,467 Receivable: Within 1 year 46,305 35,661 After 1 year 8,547 4,806 54,852 40,467 Amounts due from related parties denominated in currencies other than the respective entities’ functional currencies as at 31 December are $15,205,000 (2019: Nil) denominated in USD: * Included in non-trade are: (a) a short term, unsecured, interest free loan of $4,256,000 (2019: Nil) to an associate; and (b) loans of $19,519,000 (2019: $4,806,000) to joint ventures, bearing interest ranging from 0.85% to 6.38% (2019: 6.38%) per annum, which are the effective interest rates. The loans are unsecured and repayable from 2021 to 2029. 19 3 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT