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editor’s noteC O N T R I B U T O R SCompany Secretary CHUA SU LI and her team documentOfflineS I N G A P O R E T E C H N O L O G I E S E N G I N E E R I N G A N N U A L R E P O R T 2 0 0 0online at www.stengg.com/ar2000ST ENGG SETSITS SIGHTS ONBIGGER MARKETSA U S T R A L I A C H I N A I N D O N E S I A J A P A N M A L A Y S I A S I N G A P O R E T A I W A N U A E U S A U K V I E T N A MOnlinewww.stengg.com/ar2000Log in.editor-in-chiefcompanysecretariescorporatecommunicationse-businessfinancehuman resourcephotography coordinationprint & web designonline at www.stengg.com/ar2000printingshirley tanRESEARCH & REPORTINGchua su limary kangkaren ngprema subramaniamjanice tanlaura chuajennifer lohmagdalen lohcelina lownatalie mahchang cheow teckraphael chinpatrick leeng bor weelaurence ongeleana tanchia boon cherlim hock lailorraine ngtan nga koktay cheng beewu siew tsenCREATIVE & PRODUCTIONcelina lowyu long nyuwordmaker designpte ltdsnp sprint pte ltdVISION is published bySingapore Technologies Engineering Ltd51 Cuppage Road#09-08 StarHub CentreSingapore 229469Tel: (65) 836 1138Fax: (65) 836 1933E-mail: comms@stengg.comWebsite: www.stengg.comAll rights reserved. Copyright @ 2000 bySingapore Technologies Engineering Ltd (ST Engg).No information herein should be reproducedwithout the express written permission of ST Engg.All information herein was correct at time ofpublication. For updated information, pleasecontact our Corporate Office.A New VisionWE CAN LEARN OF EVENTS HAPPENING IN A STATE HALFway around the globe within seconds of the inhabitants ofthat country hearing about them.We can communicate withfriends, relatives and business partners in other lands morequickly (and often at a lower cost) than ever before.We enjoy thecuisines of differentcountries, watchfilms and televisionprogrammes fromabroad and useimported materialsin our work placesand homes. Around the world,the story is similar: othersobserve us, call us, try outour cuisine and use goodsthat companies based in ourcountry have sold to them.This is the context withinwhich a large modern businessmust be ready to operate. Itcan mean being exposed totough competition and tryingto operate in unfamiliar areas.To survive and prosper, it isnecessary to be able to learnquickly and be flexible andimaginative.We sometimesneed to re-examine what wethink we know and, in thelight of experience, makechanges in our thinking andways of doing things.To take one small example:we all know what should be ina company’s annual report.We know because the basiccontents (including theChairman/President’s reportand a comprehensivefinancial statement) have beenshown in practice to be avaluable and necessary meansof summing upthe company’sperformance.Sometimes theinformation offeredis not in a “form”;sometimes we puzzleover the meaning of asentence, statistic or group ofinitials; a detail mentioned inpassing catches our attention,but all we have is a tantalisingglimpse of something thatlooked interesting, but ofwhich we see no more.In vision, we set out thebasic information that readerswould expect to find, but tryto make it more accessiblethan ever before.We gobeyond that, to give a morerounded perspective on STEngg. Here, you will find outmore about the context inwhich it operates, how itfunctions and what it does inorder to deliver results.This is a move with thetimes. Each reader can selectwhat he or she wants: whetherit is the bare bones of ST Engg’sperformance, or informationthat builds into a bigger picture.We share our vision with you.Shirley Tan is Vice President/Head of the Corporate Communicationsteam. She plays a key role in communicating the company’s values andmessages to the media, public and investors. Shirley and her team,together with the contributors of the various teams, bring you vision.the tireless efforts of the respective Board Committeestowards establishing good CorporateGovernance practices and captureother corporate information to giveshareholders comfort in knowing thatthe company is being kept on the straight and narrow.Executive Vice President/Group Financial ControllerELEANA TAN and her finance comradesensure that the Group’s financialstate of affairs is always properlyreported. Her team’s contribution tothe financial reports helps shareholders and industrywatchers to rationalise their investment and involvementin the company.Vice President/Director, HumanResource, TAN NGA KOK, is a firmbeliever that our products andservices can only be as goodas our people. Nga Kok and his team’s contribution inthis report gives an insight into the emphasis ST Enggputs on staff training and development and the creationof an environment for staff to give their best.President, VT Systems, Inc. andPresident, New Business, CHANGCHEOW TECK, has the challenging taskof developing new business for STEngg, this includes e-initiatives; and as President of VTS,he heads the US thrust for the Group.
• AEROSPACE• ELECTRONICS• LAND SYSTEMS• MARINEa collection of news briefs & highlights from the yearI N S I D EWho can make Tigers fly like Falcons?Our F-5 Tiger upgrades are the most technologically advanced in the world. Our clients rely on theseupgraded aircraft as F-16 Falcon lead-in trainers. Singapore Technologies Aerospace is making a markin the industry, having completed the most number of F-5 fighter upgrade programmes. ST Aero has alsoadded Falcon ONE, a state-of-the-art F-16 avionics upgrade suite to its offering of fighter upgrade solutions.In the commercial arena, we have probably achieved what no single vendor has; having successfullyredelivered more than 1000 aircraft to a single customer in a short span of eight years.ST Aero’s experience and integrity have won the trust of customers and partners worldwide. Our longstanding relationships with our many clients bear testimony to our commitment to mutual benefit andenhanced value.With the combined experience and resources of ST Aero, ST Elect, ST Kinetics and ST Marine, SingaporeTechnologies Engineering is a one stop provider of engineering solutions, from turnkey projects to customisedupgrades.www.stengg.comRSAF Hosts Successful Millennium Air Power ConferenceNEARLY 600 DELEGATES from around the world attended the Millennium AirPower Conference (MAPC), held in Singapore on 21 February. Defence and airchiefs as well as senior management from the aerospace and defence industriesgathered for the event. Singapore’s Deputy Prime Minister and Minister for Defence,Dr Tony Tan, delivered the opening address.The speakers at the conference, each an expert in his field, were Air Vice Marshal ZekyAmbadar, General Jean Rannou, Lieutenant-General Liu Shunyao, Air Marshal ErrolMcCormack, General Patricio Rios, Major General Eitan Ben-Eliahu, General PatrickGamble, Mr Dain Hancock, Sir Charles Masefield, Mr Serge Dassault, Major GeneralRaymund Ng and from ST Engg, Mr Boon Swan Foo. Speaking on the theme “NewFrontiers, New Paradigms: Air Power in the New Millennium,” they considered theevolution of concepts of air power, the knowledge revolution, the reduction of manningin air power and the uses of extra-terrestrial space.ST ENGG PRESENTS:At the MAPC ConferencePAGE 8ASIAN AVIATIONSUMMIT: Dr HenryKissinger and SM LeeKuan Yew addressAirlines CEOs and seniorexecutivesPAGE 8SAR 21: Impressivedebut in the USPAGE 9IN & OUT BIONIX:The Bionix puts on ashow in the USPAGE 10DC-10 CONVERSION:The first in South EastAsiaPAGE 10SEE THE LIGHT:Thumbs up for LEDPAGE 11HELPING OTHERS:Lady who makes adifferencePAGE 12We take Engineering furtherWe can.The conference was judged a success by its host, the Republic of Singapore Air Force(RSAF) and all attendees.Writing in the conference commemorative journal,Chiefof Air Force Major General Raymund Ng noted that “the Conference also met itssecondary objective of providing an environment for new and renewed friendships.Judging from the interactions during the conference intermissions and lunch reception,I think we have all made a small contribution towards fostering closer defence andinternational relations.”MAPC was held in conjunction with Asian Aerospace 2000, which opened the followingday.You can findmore news andinformationonline at:www.stengg.com/ar2000For more on Aerospace Sector, turn to page 70scene • 7
Page 1 and 2: S I N G A P O R E T E C H N O L O G
Page 6 and 7: “Opportunities Abound forNiche Pl
Page 8 and 9: Helping OthersLADY WHO MAKESA DIFFE
Page 10 and 11: NOV29 DECS$2.79JANJUNJULAUGOCTYEAR
Page 12 and 13: Turnover (S$ million)Profit before
Page 14 and 15: ECONOMIC VALUE ADDED STATEMENTS (S$
Page 16 and 17: T H E E - L I S TT H E E - L I S Ts
Page 18 and 19: It was a good year for ST Engg, wit
Page 20 and 21: GROUP TURNOVER INCREASED FROM S$1.7
Page 22 and 23: THE NEXTSTEPSvision chats with ST E
Page 24 and 25: We must take globalisation seriousl
Page 26 and 27: B O A R D • O F •D I R E C T O
Page 28 and 29: D I R E C T O R S• AEROSPACE• E
Page 30 and 31: T H E • S E N I O RM A N A G E M
Page 32 and 33: M A N A G E M E N Thuman resource b
Page 34 and 35: O U R U S T H R U S TALL SYSTEMS GO
Page 36 and 37: WE HAVE GOOD REASONSto be pleased w
Page 38 and 39: AEROSPACE CUSTOMER TALKAIR VICE MAR
Page 40 and 41: R E : V I E WElectronicsBy Seah Moo
Page 42 and 43: P A R T N E R SFORMING PARTNERSHIPS
Page 44 and 45: The ATTC created a splash when it w
Page 46 and 47: LAND SYSTEMS CUSTOMER TALKMARINE CU
Page 48 and 49: MARINE CUSTOMER TALKCruise vessel r
Page 50 and 51: GROUP FINANCIAL PERFORMANCE1. ACQUI
Page 52 and 53: TRANSFERS TO OR FROM RESERVES AND P
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RELATED CORPORATIONSHOLDINGS IN THE
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The SGX’s Listing Manual requires
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BALANCE ASAT 1.1.2000 BALANCE NO. O
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BALANCE SHEETSAS AT 31 DECEMBER 200
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STATEMENTS OF CHANGES IN EQUITY (co
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NOTES TO THE FINANCIAL STATEMENTS31
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Included in the share capital is a
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8. FIXED ASSETS (cont’d)THE GROUP
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EFFECTIVE EQUITYINTEREST HELDBY THE
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COUNTRY OF INCORPORATION/NAME OF SU
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PROVISION FOR DIMINUTION IN VALUE O
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(b) Details of joint ventures are a
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13. STOCKS AND WORK-IN-PROGRESS14.
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20. DUE FROM RELATED CORPORATIONS21
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Lease terms do not contain restrict
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GROUPCOMPANY2000 1999 2000 1999NOTE
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GROUP2000 1999NUMBER OF SHARES (’
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45. SEGMENT INFORMATION (cont’d)L
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their audit to the independent dire
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SINGAPORE TECHNOLOGIES ENGINEERING
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AEROSPACE SECTOR VALUE ADDED STATEM
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ELECTRONICS SECTOR BALANCE SHEETSEL
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international recognition as a majo
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REVIEW OF FINANCIAL PERFORMANCE - M
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MARINE SECTOR FINANCIAL HIGHLIGHTS1
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SINGAPORE TECHNOLOGIES KINETICS LTD
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Professor Lui Pao Chuen is the Chai
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Contacte-mailContacte-mailASSOCIATE
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MARINE SECTORASSOCIATED COMPANIESNO
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PROXY FORMSINGAPORE TECHNOLOGIES EN
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end page• AEROSPACE• ELECTRONIC
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