ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) E4 Borrowings (continued) Reconciliation of movements of liabilities and assets to cash flows arising from financing activities Liabilities Assets Group Borrowings Trade payables and accruals Amounts due to related parties Deposits pledged Total $’000 $’000 $’000 $’000 $’000 Balance at 1 January 2020 2,337,707 2,043,504 70,007 (1,135) 4,450,083 Changes from financing cash flows Proceeds from bank loans 370,131 – – – 370,131 Proceeds from MTN issuance 1,058,400 – – – 1,058,400 Proceeds from commercial papers 524,092 – – – 524,092 Proceeds from other loans 19,565 – – – 19,565 Repayment of commercial papers (1,570,209) – – – (1,570,209) Repayment of bank loans (743,080) – – – (743,080) Repayment of lease liabilities (61,271) – – – (61,271) Interest paid (45,401) (10,499) – – (55,900) Deposit discharged – – – (10) (10) Total changes from financing cash flows (447,773) (10,499) – (10) (458,282) The effect of changes in foreign exchange rates (51,621) (1,989) – – (53,610) Change in fair value 14,328 – – – 14,328 Liability-related other changes Working capital changes – (355,557) (46,314) – (401,871) Other movements 28,045 – – – 28,045 New leases 128,213 – – – 128,213 Interest expense 37,996 11,447 140 – 49,583 Total liability-related other changes 194,254 (344,110) (46,174) – (196,030) Balance at 31 December 2020 2,046,895 1,686,906 23,833 (1,145) 3,756,489 24 5 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT