NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) C4 Amounts due from related parties Group 2024 2023 $’000 $’000 Trade: Associates 22,857 3,528 Joint ventures 25,519 38,626 Related parties 17,411 10,075 65,787 52,229 Non-trade*: Associates 11,723 7,737 Joint ventures 52,515 37,913 Related parties 138 21 64,376 45,671 Allowance for doubtful debts (3,288) (1,717) 126,875 96,183 Receivable: Within 1 year 77,860 59,964 After 1 year 49,015 36,219 126,875 96,183 Amounts due from related parties denominated in currencies other than the respective entities’ functional currencies as at 31 December are as follows: • $1,581,000 (2023: $2,252,000) denominated in USD • $5,632,000 (2023: $1,783,000) denominated in EUR * Included in non-trade are: (a) a long-term, unsecured, interest free loan of $4,456,000 (2023: $4,456,000) to an associate; (b) a long-term, unsecured, 6% (2023: 6%) per annum interest-bearing loan of $6,688,000 (2023: $2,922,000) to an associate, repayable from 2029 to 2030; and (c) loans of $50,237,000 (2023: $29,837,000) to joint ventures, bearing interest ranging from 3.00% to 6.38% (2023: 3.00% to 6.38%) per annum, which are the effective interest rates. The loans are unsecured and repayable from 2025 to 2029 (2023: 2025 to 2029). 176 ST ENGINEERING | ANNUAL REPORT 2024
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