ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) D2 Personnel expenses Group 2020 2019 $’000 $’000 Wages and salaries* 1,464,167 1,837,969 Contributions to defined contribution plans 169,561 192,178 Defined benefit plan expenses 37,791 21,800 Share-based payments 21,226 23,925 Other personnel expenses 261,563 224,022 1,954,308 2,299,894 * $353,233,000 (2019: Nil) of COVID-19 related government grants were recognised during the year, including amount received under the Jobs Support Scheme and various government grants received by the Group’s subsidiaries in the countries they operate in. Recognition and measurement (i) Short-term employee benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. (ii) Defined contribution plans Defined contribution plans are post-employment benefit plans under which the Group pays fixed contributions into separate entities such as the Central Provident Fund and will have no legal or constructive obligation to pay further amounts. The Group’s contributions to the defined contribution plans are recognised in the income statement as expenses in the financial year to which they relate. D3 Post-employment benefits Group 2020 2019 $’000 $’000 Net defined benefit asset 319 – Total post-employment benefit asset 319 – Net defined benefit liabilities 460,724 377,987 Liability for staff benefits 9,820 13,339 Total post-employment benefit liabilities 470,544 391,326 Non-current 462,548 380,061 Current 7,996 11,265 470,544 391,326 / ST ENG I NEER I NG 230