ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) E4 Borrowings (continued) (a) Bank loans Currency Effective interest rate Maturity Group 2020 2019 2020 2019 2020 2019 % % $’000 $’000 Bank loans SGD – 1.50 – 2020 – 350,000 USD 5.01 5.01 2023 2020 – 2023 12,897 14,827 RMB – 4.35 – 4.75 – 2020 – 2021 – 17,302 EUR 0.47 – 1.59 0.47 – 1.59 2026 – 2029 2025 – 2029 102,628 95,280 115,525 477,409 – Unsecured 62,811 408,313 – Secured 52,714 69,096 At the end of the year 115,525 477,409 There are bank loans which are secured by assets as follows: Secured by Loan amount ($) Certain property, plant and equipment of subsidiaries – $35,043,000 (2019: $35,388,000) Subsidiary’s land use right – $17,671,000 (2019: $33,708,000) All bank loans are denominated in the respective entities’ functional currency. (b) Commercial papers Group 2020 2019 $’000 $’000 Principal 396,660 1,440,175 Unamortised interest (233) (3,687) Unamortised costs (197) (348) 396,230 1,436,140 24 1 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT