ST Engineering Annual Report 2020

SECTORAL FINANCIAL REVIEW – LAND SYSTEMS (CURRENCY – SINGAPORE DOLLARS) BALANCE SHEET 2020 2019 $’000 $’000 ASSETS Non-current assets Property, plant and equipment 215,164 224,102 Right-of-use assets 127,516 100,646 Associates and joint ventures 69,351 82,276 Intangible assets 230,574 244,396 Deferred tax assets 16,557 17,181 Amounts due from related parties 4,997 5,094 Derivative financial instruments 4,084 12,300 668,243 685,995 Current assets Contract assets 15,166 10,994 Inventories 577,763 611,576 Trade receivables 280,105 222,799 Amounts due from related parties 27,909 28,751 Advances and other receivables 73,962 88,847 Derivative financial instruments 3,122 1,757 Bank balances and other liquid funds 455,037 153,508 1,433,064 1,118,232 Total assets 2,101,307 1,804,227 EQUITY AND LIABILITIES Current liabilities Contract liabilities 244,681 195,202 Trade payables and accruals 266,337 284,839 Amounts due to related parties 32,936 191,700 Provisions 70,688 72,060 Provision for taxation 25,769 24,205 Borrowings 14,769 10,905 Derivative financial instruments 3,832 8,370 659,012 787,281 Net current assets 774,052 330,951 Non-current liabilities Contract liabilities 580,085 202,177 Amounts due to related parties 321,560 313,598 Provisions 11,063 7,607 Deferred tax liabilities 43,512 41,723 Borrowings 112,129 87,877 Deferred income 30 36 Derivative financial instruments 5,959 17,063 1,074,338 670,081 Total liabilities 1,733,350 1,457,362 Net assets 367,957 346,865 Share capital and reserves 355,795 335,564 Non-controlling interests 12,162 11,301 367,957 346,865 Total equity and liabilities 2,101,307 1,804,227 29 5 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT