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8. FIXED ASSETS (cont’d)THE GROUP(a) Assets which are shown at valuation are stated atvalues arrived at by an independent firm of professionalvaluers on 30 November 1972, on the basis of openmarket value for existing use.There is no fixed frequencyof revaluation. Revaluation will be performed as andwhen deemed appropriate by the directors.DEPRECIATIONCHARGENET BOOK VALUE1999 2000 1999$’000 $’000 $’000THE COMPANYFurniture, fittings, office equipment and computers 321 44 43Included in the above are fixed assets acquired underfinance leases with a net book value of:GROUP2000 1999$’000 $’000Leasehold land and building 6,512 6,785Plant and machinery 1 15Furniture, fittings, office equipment and computers – 276,513 6,827(c) The major properties of the Group comprise:(i) Freehold Land and Buildings(b) The buildings on rented properties relate to buildingsconstructed by one of the subsidiaries on properties rentedfrom the Ministry of Defence on leases which are renewableevery three years. In view of the relationship betweenthe landlord and the subsidiary, the cost of the buildings onrented properties is depreciated over 30 years.LOCATION DESCRIPTION LAND AREA NET BOOK VALUE(SQ.M.) 2000 1999$’000 $’000MALAYSIA8th mile, Genting Highlands, 69000 Staff recreation and 117 236 –Genting Highlands, Pahang(ii) Leasehold Land and Buildingsapartment unitLOCATION DESCRIPTION TENURE LAND AREA NET BOOK VALUE(SQ.M.) 2000 1999$’000 $’000SINGAPORE501 Airport Road Factory and office building 20 years from 23,899 5,622 6,0051.6.1993503 Airport Road Factory and office building 20 years from 7,175 1,683 1,8141.6.1993(ii) Leasehold Land and Buildings (cont’d)LOCATION DESCRIPTION TENURE LAND AREA NET BOOK VALUE(SQ.M.) 2000 1999$’000 $’000SINGAPORE540 Airport Road Warehouse and office 30 years from 5,850 2,280 2,435building 15.8.1985Hangar and office building 30 years from 18,918 6,978 7,4851.1.198411 Changi North Crescent Hangar and office building 30 years from 75,713 57,102 54,6951.1.19925 Portsdown Road Industrial and commercial 3 years from 88,400 2,974 3,425buildings 1.12.1996,renewableto 20105 Ubi Close Car shownroom cum 30 years from 6,274 23,146 24,422workshop 1.8.199433 Tuas Avenue 2 Factory and office building 30 years from 6,669 3,702 3,8501.4.199616 Benoi Crescent Industrial and commercial 30 years from 6,981 5,013 5,284buildings 16.7.198924 Ang Mo Kio Street 65 Industrial and commercial 30 years from 34,699 15,626 16,462buildings 1.12.1982,renewableto 204216 Benoi Road Administrative offices 56 years from 20,224 – –1.6.19697 Benoi Road Buildings, foreshore and 56 years from 103,802 3,912 4,170workshops 1.6.196960 Tuas Road Building, foreshore and 30 years from 125,262 12,366 11,149workshops 1.12.1992249 Jalan Boon Lay Industrial and commercial 67 years from 120,000 9,985 –buildings 9.4.1998 to 20652D Ayer Rajah Crescent Industrial and commercial 3 years from 29,404 8,545 –buildings1.4.1998 to31.3.200114 & 16 Tuas Avenue 7 Industrial buildings 30 years from 24,059 3,814 –16.8.1983602 Rifle Range Road Industrial buildings Renewable 1,380,983 10,734 –every year15 Chin Bee Drive Industrial building 60 years from 39,640 8,064 –1.8.1973134 • visionnotes to the financial statements • 135
8. FIXED ASSETS (cont’d)(ii) Leasehold Land and Buildings (cont’d)LOCATION DESCRIPTION TENURE LAND AREA NET BOOK VALUE(SQ.M.) 2000 1999$’000 $’000USA2100 9th Street Hangar and office building 22 years from 103,825 14,383 6,785Brookley Complex, 1.1.1991Mobile, Alabama7701 Lemmon Avenue Hangar and office building 68 1 /4 years from 71,227 6,684 6,721Dallas, Texas 10.6.1955(iii) Buildings on Rented PropertiesLOCATION DESCRIPTION TENURE LAND AREA NET BOOK VALUE(SQ.M.) 2000 1999$’000 $’000540 Airport Road Hangars and office building 3 years lease 38,414 19,026 20,0219. SUBSIDIARIESfrom 20.11.1997COMPANY2000 1999$’000 $’000Unquoted shares, at cost:Singapore Technologies Aerospace Ltd 90,114 135,843Singapore Technologies Electronics Limited 26,982 26,982Singapore Technologies Kinetics Ltd 61,938 61,938(formerly known as Singapore Technologies Automotive Ltd)Singapore Technologies Marine Ltd 56,000 56,000Vision Technologies Systems, Inc. 25,859 –(formerly known as Singapore Aerospace (USA) Incorporated)Singapore Technologies Dynamics Pte Ltd 2,800 –ST Synthesis Pte Ltd 2,156 –(formerly known as Singapore Technologies Integrated Services Pte Ltd)Vision Technologies Kinetics, Inc. 3 –265,852 280,763Details of the subsidiaries are as follows:EFFECTIVE EQUITYINTEREST HELDBY THE GROUP2000 1999NAME OF SUBSIDIARY % %(A) SINGAPORE TECHNOLOGIES AEROSPACE LTD AND ITS SUBSIDIARIES 100 100ST Aerospace Engineering Pte Ltd and its subsidiaries: 100 100ST PAE Holdings Pty Ltd 100 100Pacific Flight Services Pte Ltd 100 100ST Aerospace Engines Pte Ltd 100 100ST Aerospace Systems Pte Ltd 100 100ST Aerospace Supplies Pte Ltd and its subsidiary: 100 100iShopAero Pte Ltd 65 –ST Aerospace International Structures Pte Ltd 100 100ST Aviation Resources Pte Ltd and its subsidiary*: 50 50ST Aviation Resources 1 Limited 50 50ST Aviation Services Co Pte Ltd 80 80Visiontech Investment Pte Ltd 100 100Singapore Aerospace (UK) Investments Pte Ltd and its subsidiaries: 100 100Singapore Technologies Engineering (Europe) Ltd 100 100Airline Rotables Limited 100 100Singapore Aerospace Kabushiki Kaisha 100 100Visiontech Engineering Pte Ltd 51 51ST Airport Ground Services Pte Ltd 100 100(B) SINGAPORE TECHNOLOGIES ELECTRONICS LIMITED AND ITS SUBSIDIARIES 100 100SEEL Electronic & Engineering Sdn Bhd 100 100Singapore Engineering Software Pte Ltd 100 100ST Training & Simulation Pte Ltd and its subsidiary: 100 100Interactive Visual Simulation Laboratory Pte Ltd 65 65CET Technologies Pte Ltd and its subsidiaries: 100 100DigiSAFE Pte Ltd and its subsidiaries: 100 100DataMark Technologies Pte Ltd@ 51 –DigiSAFE, Inc. 100 100Agilis Communication Technologies Pte Ltd 100 100ST Electronics (Shanghai) Co., Ltd. 100 100iTS Technologies Pte Ltd 100 100ST Electronics (Taiwan) Limited 100 –136 • visionnotes to the financial statements • 137
Page 1 and 2:
S I N G A P O R E T E C H N O L O G
Page 4 and 5:
editor’s noteC O N T R I B U T O
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
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 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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