ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F3 Non-controlling interests in subsidiaries The following table summarises the information relating to each of the Group’s subsidiaries with material non-controlling interests (NCI), based on their respective (consolidated) financial statements prepared in accordance with SFRS(I), modified for fair value adjustments on acquisition and differences from the Group’s accounting policies. The summarised financial information is not adjusted for percentage ownership held by NCI. Name of subsidiary ST Engineering Aerospace Services Company Pte. Ltd. Eco-Services, LLC $’000 $’000 2020 NCI percentage 20% 49.9% Principal place of business/Country of incorporation Singapore U.S. Revenue 239,538 23,032 Profit/(loss) after taxation 47,243 3,850 Other comprehensive income/(loss) 606 (852) Total comprehensive income 47,849 2,998 Attributable to NCI: – Profit/(loss) 9,449 1,921 –Other comprehensive income/(loss) 121 (425) –Total comprehensive income/(loss) 9,570 1,496 Non-current assets 93,570 16,893 Current assets 257,319 27,528 Non-current liabilities (43,315) (471) Current liabilities (97,402) (3,457) Net assets 210,172 40,493 Net assets attributable to NCI 42,034 20,206 Cash flows from operating activities 149,791 7,785 Cash flows from/(used in) investing activities 37,887 (279) Cash flows used in financing activities* (64,611) (432) Net increase in cash and cash equivalents 123,067 7,074 * including dividends to NCI (16,760) – / ST ENG I NEER I NG 260