ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F4 Associates and joint ventures (continued) Associates (continued) Name of associate Shanghai Technologies Aerospace Company Limited ST Aerospace (Guangzhou) Aviation Services Company Limited $’000 $’000 2019 Percentage of interest 49% 44% Revenue 90,581 70,700 Profit/(loss) after taxation 7,643 7,336 Other comprehensive loss (4,746) (3,043) Total comprehensive income/(loss) 2,897 4,293 Attributable to NCI – – Attributable to investee’s shareholders 2,897 4,293 Non-current assets 79,281 110,790 Current assets 65,348 32,379 Non-current liabilities – (15,059) Current liabilities (21,410) (18,958) Net assets 123,219 109,152 Attributable to NCI – – Attributable to investee’s shareholders 123,219 109,152 Group’s interest in net assets of investee at beginning of the year 68,577 46,138 Group’s share of: – Profit/(loss) for the year 3,745 3,228 – Total other comprehensive loss (2,326) (1,339) Total comprehensive income/(loss) 1,419 1,889 Group’s contribution during the year – – Dividends received during the year (9,619) – Impairment of an associate during the year – – Carrying amount of interest in investee at end of the year 60,377 48,027 / ST ENG I NEER I NG 268