ST Engineering Annual Report 2020

SECTORAL FINANCIAL REVIEW – ELECTRONICS (CURRENCY – SINGAPORE DOLLARS) BALANCE SHEET 2020 2019 $’000 $’000 ASSETS Non-current assets Property, plant and equipment 267,508 281,302 Right-of-use assets 120,291 111,064 Associate and joint ventures 67,871 73,639 Investments 9,255 9,437 Intangible assets 778,268 768,833 Long-term trade receivable 1,524 1,668 Deferred tax assets 36,395 20,203 Advances and other receivables 1,348 – Derivative financial instruments 581 206 1,283,041 1,266,352 Current assets Contract assets 737,001 776,779 Inventories 109,372 139,367 Trade receivables 347,855 414,572 Amounts due from related parties 31,765 29,184 Advances and other receivables 87,422 106,143 Derivative financial instruments 1,361 1,818 Bank balances and other liquid funds 477,861 488,931 1,792,637 1,956,794 Total assets 3,075,678 3,223,146 EQUITY AND LIABILITIES Current liabilities Contract liabilities 463,395 492,213 Deposits from customers 2,252 86 Trade payables and accruals 474,041 527,496 Amounts due to related parties 286,957 490,128 Provisions 75,103 61,388 Provision for taxation 52,206 42,394 Borrowings 22,295 20,631 Deferred income 9,433 154 Derivative financial instruments 616 1,356 1,386,298 1,635,846 Net current assets 406,339 320,948 Non-current liabilities Contract liabilities 139,079 155,064 Deposits from customers 215 184 Trade payables and accruals 5,510 18,344 Provisions 6,065 3.259 Deferred tax liabilities 27,091 31,427 Borrowings 104,805 97,534 Employee benefits 4,616 2,859 Derivative financial instruments 247 145 Amounts due to related parties 795,759 778,429 1,083,387 1,087,245 Total liabilities 2,469,685 2,723,091 Net assets 605,993 500,055 Share capital and reserves 593,377 489,124 Non-controlling interests 12,616 10,931 605,993 500,055 Total equity and liabilities 3,075,678 3,223,146 29 1 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT