ST Engineering Annual Report 2020

NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F5 Related party information Key management personnel compensation Group 2020 2019 $’000 $’000 Short-term employee benefits 36,599 37,330 Contributions to defined contribution plans 688 761 Share-based payments 12,106 10,620 49,393 48,711 In addition to related party information disclosed elsewhere in the financial statements, the Group has significant transactions with the following related parties on terms agreed between the parties. Group 2020 2019 $’000 $’000 Associates of the Group Sales and services rendered 8,074 4,749 Purchases and services received (22,398) (53,142) Dividend income 10,903 45,989 Joint ventures of the Group Sales and services rendered 41,481 25,705 Purchases and services received (22,300) (29,552) Dividend income 2,370 1,850 Other related parties* Sales and services rendered 45,066 41,045 Purchases and services received (19,378) (31,672) Rental expense (4,633) (5,641) Rental income 538 40 * Other related parties refer to subsidiaries, associates and joint ventures of the immediate holding company. / ST ENG I NEER I NG 276