ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C14 Financial risk management objectives and policies (continued) Group Contractual cash flow Within 1 year Between 1 and 5 years More than 5 years $’000 $’000 $’000 $’000 2020 Bank loans (122,057) (15,511) (66,504) (40,042) Commercial papers (396,660) (396,660) – – Medium term notes (1,055,999) (14,875) (1,041,124) – Lease liabilities (696,277) (71,307) (208,666) (416,304) Other loans (19,756) (19,756) – – Trade and other payables (1,710,739) (1,691,401) (18,937) (401) Derivative financial instruments: • Gross-settled forward currency contracts – payments (974,449) (659,965) (314,484) – – receipts 1,011,791 680,517 331,274 – • Net-settled interest rate swaps (24,432) (12,216) (4,607) (7,609) Financial guarantees (15,332) (1,147) (7,320) (6,865) 2019 Bank loans (492,798) (360,295) (34,326) (98,177) Commercial papers (1,440,175) (1,440,175) – – Lease liabilities (567,420) (65,836) (159,544) (342,040) Trade and other payables (2,113,511) (2,055,528) (57,572) (411) Derivative financial instruments: • Gross-settled forward currency contracts – payments (1,055,031) (612,682) (442,349) – – receipts 1,044,018 599,405 444,613 – • Net-settled interest rate swaps (7,690) (2,151) (5,503) (36) Financial guarantees (106,052) (23,125) (22,220) (60,707) Except for the cash flows arising from the intra-group financial guarantee, it is not expected that the cash flows included in the maturity analysis could occur significantly earlier, or at significantly different amounts. At the reporting date, the Group does not consider it probable that a claim will be made against the Group under the financial guarantees. / ST ENG I NEER I NG 206