NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2024 (CURRENCY – SINGAPORE DOLLARS UNLESS OTHERWISE STATED) F4 Associates and joint ventures (continued) Associates (continued) Name of associate 2023 Shanghai Technologies Aerospace Company Limited ST Aerospace (Guangzhou) Aviation Services Company Limited $’000 $’000 Percentage of interest 49% 44% Revenue 75,725 148,879 Profit/(loss) after taxation 6,502 31,500 Other comprehensive loss (4,306) (5,536) Total comprehensive income/(loss) 2,196 25,964 Attributable to NCI – – Attributable to investee’s shareholders 2,196 25,964 Non-current assets 68,567 127,862 Current assets 58,857 61,331 Non-current liabilities – (15,097) Current liabilities (20,108) (28,632) Net assets 107,316 145,464 Attributable to NCI – – Attributable to investee’s shareholders 107,316 145,464 Group’s interest in net assets of investee at beginning of the year 51,509 55,041 Group’s share of: – Profit/(loss) for the year 3,186 13,860 – Total other comprehensive loss (2,110) (2,436) Total comprehensive income/(loss) 1,076 11,424 Group’s contribution during the year – – Dividends received during the year – (2,461) Carrying amount of interest in investee at end of the year 52,585 64,004 Fair value changes of unquoted investments held by the Group’s Corporate Venture Capital Unit is recognised in Other income, net in the income statement. 246 ST ENGINEERING | ANNUAL REPORT 2024
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