ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C16 Derivative financial instruments (continued) The amounts relating to items designated as hedging instruments and hedge ineffectiveness were as follows: 2020 Group Nominal amount Assets Liabilities Line item in the statement of financial position where the hedging instrument is included $’000 $’000 $’000 Foreign currency risk Forward exchange contracts 338,664 29,915 (492) Derivative financial instruments, advances and other receivables and trade payables and accruals Embedded derivatives 231,117 851 (3,645) Interest rate risk Interest rate swaps (a) 191,719 – (12,222) Derivative financial instruments 2019 Group Nominal amount Assets Liabilities Line item in the statement of financial position where the hedging instrument is included $’000 $’000 $’000 Foreign currency risk Forward exchange contracts 537,720 3,136 (21,180) Derivative financial instruments, advances and other receivables and trade payables and accruals Embedded derivatives 247,542 – (13,489) Interest rate risk Interest rate swaps 330,285 12 (7,560) Derivative financial instruments (a) The contractual notional amount of interest rate swaps held for hedging which is based on LIBOR is $191,719,000 (2019: $330,285,000). / ST ENG I NEER I NG 224