Full Annual Report 2006 - Singapore Technologies Engineering

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201 SECTORAL FINANCIAL REVIEW – AEROSPACE BALANCE SHEET 2006 2005 $’000 $’000 Share capital and reserves 417,680 463,025 Minority interests 115,574 34,958 533,254 497,983 Property, plant and equipment 722,359 244,620 Associated companies and joint ventures 111,781 100,530 Investments 4,173 32,153 Intangible assets 16,204 2,157 Long-term receivables 275 417 Deferred tax assets 57,011 37,104 Current assets Stocks and work-in-progress 271,466 163,561 Debtors, deposits and prepayments 441,372 485,382 Long-term receivables, current 367 373 Amounts under fund management 170,700 259,680 Bank balances and other liquid funds 169,451 75,389 1,053,356 984,385 Current liabilities Advance payments from customers, current 152,324 113,940 Creditors and accruals 642,160 460,825 Provisions 53,106 47,372 Progress billing in excess of work-in-progress 52,674 45,412 Provision for taxation 103,212 96,004 Short-term bank loans (unsecured) 24,223 2,845 Long-term bank loans, current 5,571 – Lease obligations, current 1,567 1,628 1,034,837 768,026 Net current assets 18,519 216,359 Non-current liabilities Advance payments from customers, non-current 63,936 66,066 Deferred income 478 606 Deferred tax liabilities 4,696 4,554 Lease obligations, non-current 9,019 11,415 Long-term bank loans, non-current 265,890 – Loans from related corporation 53,049 52,716 397,068 135,357 533,254 497,983
THE WINNING SPIRIT ST Engineering AR 2006 202 SECTORAL FINANCIAL REVIEW – AEROSPACE STATEMENT OF CASH FLOWS 2006 2005 $’000 $’000 Net cash from operating activities 291,335 183,811 Net cash used in investing activities (136,545) (110,741) Proceeds from sale of property, plant and equipment 406 954 Dividends from associated companies 42,630 36,260 Dividends from investments 9,637 187 Proceeds from sale and maturity of investments 136,435 12,656 Purchase of investments (155) (70,051) Purchase of property, plant and equipment (158,373) (86,973) Acquisition of a subsidiary (119,538) – Acquisition of additional interest in subsidiaries (1,520) – Additional investment in an associated company (27,647) (3,588) Exchange difference on investment activities (18,420) (186) Net cash used in financing activities (218,708) (275,214) Capital contribution from minority shareholders of a subsidiary – 880 Loans from/(to) related corporations 92,270 (48,090) Repayment of lease obligations (1,477) (1,505) Dividends paid to shareholders (299,699) (215,321) Dividends paid to minority shareholders of subsidiaries (14,204) (10,614) Interest paid (11,876) (908) Proceeds from short-term bank loans 3,243 – Exchange difference on financing activities 13,035 344 Net decrease in cash and cash equivalents (63,918) (202,144) Cash and cash equivalents at beginning of year 291,149 493,120 Exchange difference on cash and cash equivalents at beginning of year (2,366) 173 Cash and cash equivalents at end of year 224,865 291,149
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THE WINNING SPIRIT ANNUAL REPORT 20
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1 The winning spirit entails more t
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11 Peter SEAH Lim Huat Chairman (le
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13 In 2007, we will continue to gro
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THE WINNING SPIRIT ST Engineering A
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33 Corporate Governance Board’s C
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35 Corporate Governance BOARD COMPO
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37 Corporate Governance The ERCC me
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39 Corporate Governance Remuneratio
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41 Corporate Governance Internal Co
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43 Corporate Governance COMPLIANCE
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45 Environment, Health and Safety A
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47 Investor Relations ST ENGINEERIN
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49 Share Price Performance ST ENGIN
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57 Operating Financial Review GROUP
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59 Operating Financial Review PERFO
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61 Operating Financial Review Capit
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LAND SYSTEMS SECTOR MARINE SECTOR C
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67 Aerospace FLYING HIGH WITH TOTAL
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69 Aerospace Full Year Performance
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75 Land Systems BREAKING NEW GROUND
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77 Land Systems Major Acquisitions
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91 Directors’ Report AS AT 31 DEC
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101 Directors’ Report AS AT 31 DE
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103 Statement by Directors We, Pete
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105 Balance Sheets AS AT 31 DECEMBE
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107 Statements of Changes in Equity
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109 Consolidated Statement of Cash
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111 Consolidated Statement of Cash
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113 Notes to the Financial Statemen
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Page 136 and 137: 151 Notes to the Financial Statemen
Page 182 and 183: 197 SGX Listing Manual Requirements
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Page 188 and 189: 203 SECTORAL FINANCIAL REVIEW - AER
Page 190 and 191: 205 SECTORAL FINANCIAL REVIEW - ELE
Page 196 and 197: 211 SECTORAL FINANCIAL REVIEW - LAN
Page 198 and 199: 213 SECTORAL FINANCIAL REVIEW - LAN
Page 200 and 201: 215 SECTORAL FINANCIAL REVIEW - MAR
Page 206 and 207: 221 Group Structure - Singapore Tec
Page 208 and 209: 223 Group Structure - Singapore Tec
Page 210 and 211: 225 CORPORATE INFORMATION BOARD OF
Page 212 and 213: SINGAPORE TECHNOLOGIES ENGINEERING
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Full Annual Report 2006 - Singapore Technologies Engineering

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