ST Engineering Annual Report 2020

2020 2019 $’000 $’000 ASSETS Non-current assets Property, plant and equipment 1,047,725 1,087,980 Right-of-use assets 262,895 244,797 Associates and joint ventures 284,446 253,884 Intangible assets 937,228 966,906 Advances and other receivables 54,417 9,085 Deferred tax assets 71,794 78,786 Derivative financial instruments 16,086 1,053 Employee benefits 319 – 2,674,910 2,642,491 Current assets Contract assets 314,511 410,907 Inventories 532,802 526,098 Trade receivables 346,134 546,056 Amount due from related parties 27,112 103,832 Advances and other receivables 110,356 105,764 Derivative financial instruments 17,219 2,784 Bank balances and other liquid funds 646,794 331,674 1,994,928 2,027,115 Total assets 4,669,838 4,669,606 EQUITY AND LIABILITIES Current liabilities Contract liabilities 292,701 272,523 Deposits from customers 3,710 5,232 Trade payables and accruals 550,373 775,840 Amount due to related parties 719,796 762,059 Provisions 94,977 57,941 Provision for taxation 63,898 115,113 Borrowings 56,791 45,532 Deferred income 49,533 2,249 Employee benefits 7,996 11,265 1,839,775 2,047,754 Net current assets/(liabilities) 155,153 (20,639) Non-current liabilities Contract liabilities 86,522 84,324 Trade payables and accruals 4,604 26,041 Provision 8,696 2,254 Deferred tax liabilities 154,354 136,698 Borrowings 325,673 263,569 Employee benefits 457,932 377,202 Derivative financial instruments 200 3,807 Amount due to related parties 866,345 839,367 1,904,326 1,733,262 Total liabilities 3,744,101 3,781,016 Net assets 925,737 888,590 Share capital and reserves 668,781 642,553 Non-controlling interests 256,956 246,037 925,737 888,590 Total equity and liabilities 4,669,838 4,669,606 SECTORAL FINANCIAL REVIEW – AEROSPACE (CURRENCY – SINGAPORE DOLLARS) BALANCE SHEET 28 7 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT