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Included in the share capital is a special share of $0.10issued to the Minister for Finance (Incorporated).Thespecial share enjoys all the rights attached to the ordinaryshares. In addition, the special share carries the right toapprove any resolution to be passed by the Company,either in general meeting or by its Board of Directors, oncertain matters specified in the Company’s Articles ofAssociation.The special share may be converted at anytime into an ordinary share.During the financial year, the Company issued17,004,832 ordinary shares of $0.10 each for cash uponthe exercise of the options under the ST Engg ShareOption Scheme.At the end of the financial year, unissued ordinary sharesof $0.10 each of the Company under options granted toeligible employees and a director of the Company underthe ST Engg Share Option Scheme amounted to a total of94,054,226 ordinary shares of $0.10 each.4. SHARE PREMIUMThe share premium account may be applied only for thepurposes specified in the Companies Act.The balance isnot available for distribution of dividends except in theform of shares.Other than the reclassification of $114,863,000 fromshare premium account to capital reserve as disclosed inNote 6 to the financial statements, the movement in theshare premium account arises from the issuance of17,004,832 ordinary shares of $0.10 each at between7. UNAPPROPRIATED PROFIT$0.37 to $1.42 per share for cash upon the exercise ofoptions under the ST Engg Share Option Scheme.5. MERGER RESERVEThis amount in respect of prior year represents thesurplus arising from the amalgamation of the SchemeCompanies pursuant to a Scheme of arrangement underSection 210 of the Companies Act in 1997.The surpluscomprises the difference between the amount recordedas share capital issued by the Company and the amountrecorded for the share capital of the Scheme Companiesacquired under the pooling of interest method.During the financial year, the merger reserve has beenutilised to partially write off against the goodwill onacquisition of Founders Industries Pte Ltd (formerlyknown as Chartered Industries of Singapore (Pte)Limited) and its subsidiaries.6. CAPITAL RESERVEDuring the financial year, an amount of $114,863,000has been reclassified from the share premium account tocapital reserve as disclosed in Note 4 to the financialstatements.This amount relates to share premium of therespective pooled enterprises, namely SingaporeTechnologies Aerospace Ltd, Singapore TechnologiesElectronics Limited, Singapore Technologies Kinetics Ltdand Singapore Technologies Marine Ltd which should beclassified as capital reserve upon the pooling of interestsin the financial year ended 31 December 1997.Accordingly, prior year comparatives have been restatedto conform with current year presentation.GROUP2000 1999$’000 $’000Retained by:The Company 174,467 101,475Subsidiaries 271,325 231,112Associated companies and joint ventures 27,874 85,956473,666 418,543Included in unappropriated profit of the Company is anamount of $98,595,254 received from a subsidiary representingthe distribution of the subsidiary’s share premiumas a result of a capital reduction as described in Note 36 tothe financial statements.The distribution of this amount isrestricted by certain provisions of the Companies Act.8. FIXED ASSETSVALUATION/COSTADDITIONS DUEAS AT TO ACQUISITION TRANSLATION AS AT1.1.2000 ADDITIONS OF SUBSIDIARIES DISPOSALS TRANSFERS DIFFERENCE 31.12.2000$’000 $’000 $’000 $’000 $’000 $’000 $’000THE GROUPAT 1972 VALUATIONLeasehold land andbuildings 3,365 – – – – – 3,365Wharves and slipways 1,490 – – – – – 1,490Syncrolift andfloating docks 4,603 – – – – – 4,603Plant and machinery 1,694 – – – – – 1,694Furniture, fittings, officeequipment andcomputers 653 – – – – – 653AT COSTFreehold land andbuilding 5,347 – 477 – (4,856) 179 1,147Leasehold land andbuildings 244,508 5,352 104,307 (193) 11,159 1,242 366,375Buildings on rentedproperties 34,457 – – – – – 34,457Improvements topremises 4,169 276 – (244) 873 239 5,313Wharves and slipways 19,631 – – – – – 19,631Syncrolift andfloating docks 61,624 – – – – – 61,624Boats and barges 3,239 – – – – – 3,239Plant and machinery 219,100 17,230 56,395 (8,177) 3,022 2,280 289,850Production tools andequipment 71,085 6,041 109 (1,072) (1,014) 108 75,257Furniture, fittings, officeequipment andcomputers 93,897 19,690 33,222 (11,555) 8 430 135,692Transportationequipment andvehicles 13,317 955 2,577 (1,078) – 35 15,806Aircraft enginesand helicopters 11,229 – – (2,774) (1,705) – 6,750Construction in progress 6,702 7,100 – (262) (7,487) 96 6,149800,110 56,644 197,087 (25,355) – 4,609 1,033,095130 • visionnotes to the financial statements • 131
8. FIXED ASSETS (cont’d)ACCUMULATED DEPRECIATIONDEPRECIATION ADDITIONS DUEAS AT CHARGE FOR TO ACQUISITION TRANSLATION AS AT1.1.2000 THE YEAR OF SUBSIDIARIES DISPOSALS TRANSFERS DIFFERENCE 31.12.2000$’000 $’000 $’000 $’000 $’000 $’000 $’000THE GROUPAT 1972 VALUATIONLeasehold land andbuildings 3,365 – – – – – 3,365Wharves and slipways 1,490 – – – – – 1,490Syncrolift andfloating docks 4,603 – – – – – 4,603Plant and machinery 1,694 – – – – – 1,694Furniture, fittings, officeequipment andcomputers 653 – – – – – 653AT COSTFreehold land andbuilding 575 46 217 – (299) 12 551Leasehold land andbuildings 85,350 20,440 52,989 (174) 182 215 159,002Buildings on rentedproperties 14,436 995 – – – – 15,431Improvements topremises 3,510 232 – (242) 117 72 3,689Wharves and slipways 9,355 1,025 – – – – 10,380Syncrolift andfloating docks 24,680 6,358 – – – – 31,038Boats and barges 2,841 398 – – – – 3,239Plant and machinery 180,317 21,718 54,077 (7,078) 1,062 929 251,025Production toolsand equipment 59,857 5,951 72 (1,064) (966) 87 63,937Furniture, fittings,office equipmentand computers 77,202 16,580 30,009 (9,195) – 211 114,807Transportationequipment andvehicles 9,154 2,021 2,238 (922) – 17 12,508Aircraft enginesand helicopters 5,414 2,823 – (1,391) (96) – 6,750484,496 78,587 139,602 (20,066) – 1,543 684,162DEPRECIATIONCHARGENET BOOK VALUE1999 2000 1999$’000 $’000 $’000THE GROUPAT 1972 VALUATIONLeasehold land and buildings – – –Wharves and slipways – – –Syncrolift and floating docks – – –Plant and machinery – – –Furniture, fittings, office equipment and computers – – –AT COSTFreehold land and building 37 596 4,772Leasehold land and buildings 8,967 207,373 159,158Buildings on rented properties 995 19,026 20,021Improvements to premises 94 1,624 659Wharves and slipways 1,025 9,251 10,276Syncrolift and floating docks 6,366 30,586 36,944Boats and barges 397 – 398Plant and machinery 20,643 38,825 38,783Production tools and equipment 5,181 11,320 11,228Furniture, fittings, office equipment and computers 10,305 20,885 16,695Transportation equipment and vehicles 1,830 3,298 4,163Aircraft engines and helicopters 2,696 – 5,815Construction in progress – 6,149 6,70258,536 348,933 315,614The depreciation charge for the year amounting toapproximately $2,444,000 is capitalised in work-inprogress(1999: an additional charge of approximately$251,000 reversed from work-in-progress).AT COSTAS AT 1.1.2000 ADDITIONS DISPOSALS AS AT 31.12.2000$’000 $’000 $’000 $’000THE COMPANYFurniture, fittings, office equipment and computers 369 73 – 442ACCUMULATED DEPRECIATIONDEPRECIATIONCHARGEAS AT 1.1.2000 FOR THE YEAR DISPOSALS AS AT 31.12.2000$’000 $’000 $’000 $’000THE COMPANYFurniture, fittings, office equipment and computers 326 72 – 398132 • visionnotes to the financial statements • 133
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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$
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
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 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 102 and 103: MARINE SECTOR FINANCIAL HIGHLIGHTS1
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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