NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F4 Associates and joint ventures Group 2024 2023 $’000 $’000 Unquoted shares, at fair value 8,208 9,970 Unquoted shares, at cost 514,215 495,522 Goodwill on acquisition 38 38 Share of net assets acquired 514,253 495,560 Impairment in associates (8,000) (8,000) Share of post-acquisition reserves 106,994 69,874 613,247 557,434 621,455 567,404 Represented by: Interest in associates 345,896 307,024 Interest in joint ventures 275,559 260,380 621,455 567,404 Details of material associates and joint ventures are as follows: Name Principal activities Country of incorporation/ place of business Effective equity interest held by the Group 2024 2023 % % Associates Shanghai Technologies Aerospace Company Limited1 Aircraft and component maintenance, repair, overhaul and other related maintenance business People’s Republic of China 49 49 ST Aerospace (Guangzhou) Aviation Services Company Limited1 Aircraft and component maintenance, repair, overhaul and other related maintenance business People’s Republic of China 44 44 Turbine Coating Services Pte. Ltd. Repair, refurbishment and upgrading of aircraft jet engine turbine blades and vanes Singapore 24.5 24.5 242 ST ENGINEERING | ANNUAL REPORT 2024
RkJQdWJsaXNoZXIy ODIwNTc=