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MARINE SECTOR FINANCIAL HIGHLIGHTS1996 1997 1998 1999 2000$’000 $’000 $’000 $’000 $’000Turnover 349,962 243,204 197,567 255,979 359,112Profit before tax 58,375 53,950 44,831 46,367 63,935Profit after tax (before extraordinary items) 43,268 38,521 30,138 31,178 43,830Shareholders’ funds 205,240 214,824 165,003 104,312 93,174Total assets 817,599 728,087 634,802 492,607 479,205Net tangible assets 205,240 214,824 165,003 104,312 93,174Return on turnover (%) 12.4 15.8 15.3 12.2 12.2Earnings per share (¢) 22.20 19.71 15.41 15.94 22.41Return on equity (%) 21.1 17.9 18.3 29.9 47.0Return on total assets (%) 5.3 5.3 4.7 6.3 9.1Net tangible assets per share (¢) 105.00 109.85 84.37 53.34 47.64PRODUCTIVITY DATAAverage staff strength 1,222 1,224 1,195 1,073 951Employment costs ($’000) 43,202 53,348 48,041 43,830 43,077Sales per employee ($) 286,385 198,696 165,328 238,564 377,615Profit after tax per employee ($) 35,408 31,471 25,220 29,057 46,088Economic value added ($’000) 22,923 13,447 11,245 22,597 38,747Economic value added spread (%) 10.3 5.2 4.1 13.0 25.0Economic value added per employee ($) 18,759 10,986 9,410 21,060 40,743Value added ($’000) 115,991 122,787 112,633 107,065 115,691Value added per employee ($) 94,919 100,316 94,254 99,781 121,652Value added per $ of employment costs 2.68 2.30 2.34 2.44 2.69SINGAPORE TECHNOLOGIES ENGINEERING LTD –SUBSIDIARIES AND ASSOCIATED COMPANIESSingapore Technologies Aerospace Ltd (100%)Singapore Technologies Electronics Limited (100%)Singapore Technologies Kinetics Ltd (100%)Singapore Technologies Marine Ltd (100%)Singapore Technologies DynamicsPte Ltd (100%)ST Synthesis Pte Ltd (100%)Vision Technologies Systems, Inc. (100%) +• Vision Technologies AerospaceIncorporated (100%) @• Singapore Technologies Engineering(USA) Inc. (100%)• SA Supplies (USA) Inc. (100%)• Vision Technologies Marine, Inc.(100%)• VT Systems, Inc. (100%)Vision Technologies Kinetics, Inc. (100%)• ST Mobile Aerospace Engineering, Inc. (100%)• DalFort Aerospace GP, Inc. (100%)• DalFort Aerospace, L.P. (99%) *@Formerly known as Vision International Incorporated+ Formerly known as Singapore Aerospace (USA) Incorporated* Balance 1% held by DalFort Aerospace GP, Inc.Non Bold Indicates subsidiaries (both directly & indirectly held)Italics Indicates Associated Companies or Others202 • visionsubsidiaries and associated companies • 203
SINGAPORE TECHNOLOGIES AEROSPACE LTD –SUBSIDIARIES AND ASSOCIATED COMPANIESSINGAPORE TECHNOLOGIES ELECTRONICS LIMITED –SUBSIDIARIES AND ASSOCIATED COMPANIES• Pacific Flight Services Pte Ltd (100%)ST Aerospace Engineering Pte Ltd (100%)ST Aerospace Engines Pte Ltd (100%)ST Aerospace International StructuresPte Ltd (100%)ST Aerospace Systems Pte Ltd (100%)ST Aerospace Supplies Pte Ltd (100%)ST Airport Ground Services Pte Ltd (100%)Visiontech Investment Pte Ltd (100%)ST Aviation Services Co Pte Ltd (80%)ST Aviation Resources Pte Ltd (50%)*Singapore Aerospace Kabushiki Kaisha (100%)Singapore Aerospace (UK) InvestmentsPte Ltd (100%)• ST PAE Holdings Pty Ltd(100%)• Aerospace Engineering• Composite Technology International Pte Ltd (33.33%) Services Pty Ltd• Eurocopter South East Asia Private Limited (25%)Unit Trust (50%)• Aerospace Engineering ServicesPty Ltd (50%)• Singapore Precision Repair and Overhaul Pte Ltd (50%)• Changi Aviation Services Pte Ltd (50%)• ST Aviation Resources 1 Limited (100%)• Singapore Technologies Engineering (Europe) Ltd (100%)• Airline Rotables Limited (100%)Agilis Communication Technologies Pte Ltd (100%)CET Technologies Pte Ltd (100%)Singapore Engineering Software Pte Ltd (100%)iTS Technologies Pte Ltd (100%)ST Training & Simulation Pte Ltd (100%)SEEL Electronic & Engineering Sdn Bhd (100%)ST Electronics (Shanghai) Co., Ltd (100%)ST Electronics (Taiwan) Limited (100%)ST LogiTrack Pte Ltd (50%)GFM Electronics, S.A. De C.V. (50%)Asia-Pacific Training and Simulation Pte Limited (25%)• DigiSAFE Pte Ltd (100%)• Sentry Technologies Pte Ltd (35%)• Interactive Visual Simulation LaboratoryPte Ltd (65%)• DigiSAFE, Inc. (100%)• Datamark Technologies Pte Ltd (51%)• Stegami.com Pte Ltd (37.6%)iShopAero Pte Ltd (68%)Visiontech Engineering Pte Ltd (51%)Asian Aerospace Pte Ltd (50%)Turbine Coating Services Pte Ltd (24.5%)Turbine Overhaul Services Pte Ltd (49%)Singapore British Engineering Pte Ltd (32%)* Deemed to be a subsidiary by virtue of the Company’s control of the Board of DirectorsNon Bold Indicates subsidiaries (both directly & indirectly held)Italics Indicates Associated Companies or OthersNon BoldItalicsIndicates subsidiaries (both directly & indirectly held)Indicates Associated Companies or Others204 • visionsubsidiaries and associated companies • 205
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S I N G A P O R E T E C H N O L O G
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editor’s noteC O N T R I B U T O
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“Opportunities Abound forNiche Pl
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Helping OthersLADY WHO MAKESA DIFFE
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NOV29 DECS$2.79JANJUNJULAUGOCTYEAR
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Turnover (S$ million)Profit before
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ECONOMIC VALUE ADDED STATEMENTS (S$
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T H E E - L I S TT H E E - L I S Ts
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It was a good year for ST Engg, wit
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GROUP TURNOVER INCREASED FROM S$1.7
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THE NEXTSTEPSvision chats with ST E
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We must take globalisation seriousl
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B O A R D • O F •D I R E C T O
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D I R E C T O R S• AEROSPACE• E
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T H E • S E N I O RM A N A G E M
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M A N A G E M E N Thuman resource b
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O U R U S T H R U S TALL SYSTEMS GO
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WE HAVE GOOD REASONSto be pleased w
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AEROSPACE CUSTOMER TALKAIR VICE MAR
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R E : V I E WElectronicsBy Seah Moo
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P A R T N E R SFORMING PARTNERSHIPS
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The ATTC created a splash when it w
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LAND SYSTEMS CUSTOMER TALKMARINE CU
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MARINE CUSTOMER TALKCruise vessel r
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GROUP FINANCIAL PERFORMANCE1. ACQUI
Page 52 and 53: TRANSFERS TO OR FROM RESERVES AND P
Page 54 and 55: RELATED CORPORATIONSHOLDINGS IN THE
Page 56 and 57: The SGX’s Listing Manual requires
Page 58 and 59: BALANCE ASAT 1.1.2000 BALANCE NO. O
Page 60 and 61: BALANCE SHEETSAS AT 31 DECEMBER 200
Page 62 and 63: STATEMENTS OF CHANGES IN EQUITY (co
Page 64 and 65: NOTES TO THE FINANCIAL STATEMENTS31
Page 66 and 67: Included in the share capital is a
Page 68 and 69: 8. FIXED ASSETS (cont’d)THE GROUP
Page 70 and 71: EFFECTIVE EQUITYINTEREST HELDBY THE
Page 72 and 73: COUNTRY OF INCORPORATION/NAME OF SU
Page 74 and 75: PROVISION FOR DIMINUTION IN VALUE O
Page 76 and 77: (b) Details of joint ventures are a
Page 78 and 79: 13. STOCKS AND WORK-IN-PROGRESS14.
Page 80 and 81: 20. DUE FROM RELATED CORPORATIONS21
Page 82 and 83: Lease terms do not contain restrict
Page 84 and 85: GROUPCOMPANY2000 1999 2000 1999NOTE
Page 86 and 87: GROUP2000 1999NUMBER OF SHARES (’
Page 88 and 89: 45. SEGMENT INFORMATION (cont’d)L
Page 90 and 91: their audit to the independent dire
Page 92 and 93: SINGAPORE TECHNOLOGIES ENGINEERING
Page 94 and 95: AEROSPACE SECTOR VALUE ADDED STATEM
Page 96 and 97: ELECTRONICS SECTOR BALANCE SHEETSEL
Page 98 and 99: international recognition as a majo
Page 100 and 101: REVIEW OF FINANCIAL PERFORMANCE - M
Page 104 and 105: SINGAPORE TECHNOLOGIES KINETICS LTD
Page 106 and 107: Professor Lui Pao Chuen is the Chai
Page 108 and 109: Contacte-mailContacte-mailASSOCIATE
Page 111 and 112: MARINE SECTORASSOCIATED COMPANIESNO
Page 113 and 114: PROXY FORMSINGAPORE TECHNOLOGIES EN
Page 115 and 116: end page• AEROSPACE• ELECTRONIC
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