ST Engineering Annual Report 2020

NOTES TO THE BALANCE SHEET OF THE COMPANY AS AT 31 DECEMBER 2020 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) 2. Property, plant and equipment (continued) Buildings and improvements Furniture, fittings, office equipment and others Construction-in- progress Total $’000 $’000 $’000 $’000 Cost At 1 January 2019 2,841 22,020 622 25,483 Additions 6 12,910 2,029 14,945 Disposals – (217) – (217) At 31 December 2019 2,847 34,713 2,651 40,211 Accumulated depreciation At 1 January 2019 1,293 6,061 – 7,354 Depreciation charge 283 3,931 – 4,214 Disposals – (45) – (45) At 31 December 2019 1,576 9,947 – 11,523 Net book value At 31 December 2019 1,271 24,766 2,651 28,688 3. Subsidiaries 2020 2019 $’000 $’000 Equity investments at cost At beginning of the year 1,327,608 1,328,153 Additions 35,643 – Disposals – (545) At end of the year 1,363,251 1,327,608 4. Associates 2020 2019 $’000 $’000 Equity investments at cost Beginning and end of the year 17,657 17,657 28 3 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT