ST Engineering Annual Report 2020

2020 2019 $’000 $’000 ASSETS Non-current assets Property, plant and equipment 182,761 178,403 Right-of-use assets 17,631 22,975 Associate and joint ventures 4,244 2,850 Intangible assets 68 80 Advances and other receivables 1,731 1,820 Deferred tax assets 92,774 68,880 Amounts due from related parties 8,547 4,806 Derivative financial instruments 33 1,296 307,789 281,110 Current assets Contract assets 103,641 56,060 Inventories 46,045 32,631 Trade receivables 61,890 62,186 Amounts due from related parties 15,639 16,947 Advances and other receivables 20,391 37,290 Bank balances and other liquid funds 306,871 321,922 554,477 527,036 Total assets 862,266 808,146 EQUITY AND LIABILITIES Current liabilities Contract liabilities 155,348 109,604 Deposits from customers 4,789 3,833 Trade payables and accruals 303,766 327,967 Amounts due to related parties 256,610 192,716 Provisions 64,673 42,044 Provision for taxation 23,767 34,169 Borrowings 3,789 4,372 812,742 714,705 Net current liabilities (258,265) (187,669) Non-current liabilities Trade payables and accruals 1,653 7,080 Provisions 3,977 3,874 Borrowings 12,368 16,373 Deferred income 50,069 34,273 Amounts due to related parties 26,343 26,343 Derivative financial instruments 953 511 95,363 88,454 Total liabilities 908,105 803,159 Net (liabilities)/assets (45,839) 4,987 Share capital and reserves (45,839) 4,987 Total equity and liabilities 862,266 808,146 SECTORAL FINANCIAL REVIEW – MARINE (CURRENCY – SINGAPORE DOLLARS) BALANCE SHEET 29 9 ANNUAL REPORT 2 0 2 0 / CORPORATE OVERVI EW PERFORMANCE REVI EW SUSTAINABI L ITY CORPORATE GOVERNANCE F INANCIAL REPORT