ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) E9 Other reserves Group 2020 2019 $’000 $’000 Foreign currency translation reserve (154,074) (194,076) Statutory reserve 1,494 1,323 Fair value reserve (7,571) (32,703) Share-based payment reserve 74,298 79,175 Premium paid on acquisition of non-controlling interests (3,164) (3,164) (89,017) (149,445) Fair value reserve movement arising from other comprehensive income comprises of: Net fair value changes on financial assets: – Net fair value changes during the year for FVOCI equity instruments (246) 182 – Reclassification to retained earnings on realisation 584 – 338 182 Foreign currency translation reserve movement arising from other comprehensive income comprises of: Foreign currency translation differences arising from: – Translation of loans forming part of net investments in foreign entities 10,245 (4,926) – Share of translation difference of associates and joint ventures 1,819 (7,371) – Reserves released on disposal of subsidiaries and a joint venture 121 246 – Translation of foreign entities 27,817 (39,045) 40,002 (51,096) Other reserves are non-distributable. 25 3 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT