Full Annual Report 2006 - Singapore Technologies Engineering

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211 SECTORAL FINANCIAL REVIEW – LAND SYSTEMS BALANCE SHEET 2006 2005 $’000 $’000 Share capital and reserves 110,954 173,597 Minority interests 15,825 9,834 126,779 183,431 Property, plant and equipment 87,098 82,706 Associated companies and joint ventures 114,667 115,883 Investments 14,048 19,450 Intangible assets 222,185 54,221 Long-term receivables 58,042 573 Deferred tax assets 17,085 16,187 Current assets Stocks and work-in-progress 376,814 298,477 Trade debtors 158,285 137,038 Debtors, deposits and prepayments 48,886 37,530 Long-term receivables, current 9 63 Bank balances and other liquid funds 86,475 90,157 Due from related corporations 35,807 151,754 Forward currency contracts 90 – 706,366 715,019 Current liabilities Advance payments from customers, current 223,916 138,266 Creditors and accruals 310,786 215,953 Provisions 54,140 59,971 Provision for taxation 34,450 33,301 Forward currency contract 24 208 Long-term loans, current 237 925 Short-term bank loan 2,458 – Bank overdrafts 937 – Short-term loans from minority shareholders of a subsidiary – 2,843 626,948 451,467 Net current assets 79,418 263,552 Non-current liabilities Advance payments from customers, non-current 153,338 264,485 Forward currency contract 39 – Loans from related corporation 302,310 97,395 Due to a joint venture – 331 Long-term loans 2,229 2,684 Long-term loan from minority shareholder of a subsidiary 194 194 Deferred income 2,811 1,047 Deferred tax liabilities 4,843 3,005 465,764 369,141 126,779 183,431
THE WINNING SPIRIT ST Engineering AR 2006 212 SECTORAL FINANCIAL REVIEW – LAND SYSTEMS STATEMENT OF CASH FLOWS 2006 2005 $’000 $’000 Net cash from operating activities 12,872 7,202 Net cash used in investing activities (220,486) (37,128) Proceeds from disposal of property, plant and equipment 919 1,102 Distribution from unquoted long-term investment 250 – Dividends from unquoted long-term investments 138 414 Dividends from associated companies 3,606 8,270 Purchase of property, plant and equipment (12,116) (7,808) Purchase of commercial and intellectual property rights (517) – Investment in an associated company and a joint venture – (2,051) Acquisition of additional interest in a subsidiary (150) – Acquisition of a subsidiary (211,381) (37,328) Contribution from minority shareholders – 895 Deconsolidation of a subsidiary – (92) Long-term loan to a joint venture (1,235) (573) Exchange difference on investing activities – 43 Net cash from financing activities 94,036 1,583 Interest paid (3,752) (102) Proceeds from loans from minority shareholders 43 1,549 Proceeds from long-term loans from related corporation 211,798 91,658 Proceeds from short-term loans from related corporation 21,631 – Proceeds from short-term bank loan 2,510 – Proceeds from short-term loan from immediate holding company 20,000 – Long-term loan to immediate holding company (54,000) – Repayment of long-term bank loan – (30,861) Repayment of short-term loan – (11,914) Repayment of long-term loans (923) (43) Dividends paid to shareholder of the Company (103,173) (48,316) Dividends paid to minority shareholders of a subsidiary (98) – Exchange difference on financing activities – (388) Net decrease in cash and cash equivalents (113,578) (28,343) Cash and cash equivalents at beginning of year 234,752 264,335 Exchange difference on cash and cash equivalents at beginning of year (5,256) (1,240) Cash and cash equivalents at end of year 115,918 234,752
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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 146 and 147: 161 Notes to the Financial Statemen
Page 182 and 183: 197 SGX Listing Manual Requirements
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Page 186 and 187: 201 SECTORAL FINANCIAL REVIEW - AER
Page 188 and 189: 203 SECTORAL FINANCIAL REVIEW - AER
Page 190 and 191: 205 SECTORAL FINANCIAL REVIEW - ELE
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
Page 214: 2 fold this dotted line > Postage w
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Full Annual Report 2006 - Singapore Technologies Engineering

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