ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C10 Amounts due to related parties Group 2020 2019 $’000 $’000 Trade: Associates 9,925 11,029 Joint ventures 476 140 Related parties 1,110 1,537 11,511 12,706 Non-trade: Joint ventures* 12,314 55,682 Related parties 8 1,619 12,322 57,301 23,833 70,007 Payable: Within 1 year 23,833 70,007 There were no significant amounts due to related parties denominated in currencies other than the respective entities’ functional currencies as at 31 December 2020 and 31 December 2019. * Included in the amounts due to joint ventures (non-trade) is an amount of $12,300,000 (2019: $55,682,000) placed by joint ventures to a subsidiary of the Group under a cash pooling arrangement, where an effective interest of 0% per annum (2019: 1.46%) is charged on the outstanding balance. / ST ENG I NEER I NG 198