ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F. GROUP STRUCTURE This section explains significant aspects of ST Engineering’s group structure, including joint arrangements that the Group has interest in, its controlled entities and how changes have affected the Group structure. It also provides information on business acquisitions and disposals made during the financial year as well as information relating to ST Engineering’s related parties, the extent of related party transactions and the impact they had on the Group’s financial performance and position. F1 Subsidiaries F4 Associates and joint ventures F2 Acquisition and disposal of controlling interests F5 Related party information in subsidiaries in 2020/2019 F3 Non-controlling interests in subsidiaries F1 Subsidiaries Details of the significant subsidiaries of the Group are as follows: Effective equity interest held by the Group Country of incorporation 2020 % 2019 % ST Engineering Aerospace Ltd. Singapore 100 100 Elbe Flugzeugwerke GmbH 1 Germany 55 55 ST Engineering Aerospace Aircraft Maintenance Pte. Ltd. Singapore 100 100 ST Engineering Aerospace Engines Pte. Ltd. Singapore 100 100 ST Engineering Aerospace Services Company Pte. Ltd. Singapore 80 80 ST Engineering Electronics Ltd. Singapore 100 100 ST Engineering Advanced Networks & Sensors Pte. Ltd. (formerly known as ST Electronics (Info-Comm Systems) Pte. Ltd.) Singapore 100 100 ST Engineering Land Systems Ltd. Singapore 100 100 ST Engineering Marine Ltd. Singapore 100 100 ST Engineering North America, Inc. 2 U.S. 100 100 MRA Systems, LLC (also known as Middle River Aerostructure Systems, LLC) 2 U.S. 100 100 ST Engineering RHQ Ltd. 3 United Kingdom 100 100 ST Engineering iDirect (Europe) NV 4 Belgium 100 100 ST Engineering Treasury Pte. Ltd. Singapore 100 100 1 Audited by PricewaterhouseCoopers GmbH Wirtschaftsprüfungsgesellschaft (2019: member firms of KPMG International) for consolidation purposes. 2 Not required to be audited under the law in the country of incorporation. 3 Audited by Critchleys LLP. 4 Audited by PricewaterhouseCoopers Antwerp (2019: Ernst & Young LLP) for consolidation purposes. All significant subsidiaries that are required to be audited under the law in the country of incorporation are audited by PricewaterhouseCoopers LLP Singapore and overseas practice of PricewaterhouseCoopers, except as indicated above. 25 5 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT