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COUNTRY OF INCORPORATION/NAME OF SUBSIDIARY PRINCIPAL ACTIVITIES PLACE OF BUSINESSiTS Technologies Pte Ltd Development, marketing and maintenance of Singaporeadvance simulation and training systems for theaircraft and other industriesCOUNTRY OF INCORPORATION/NAME OF SUBSIDIARY PRINCIPAL ACTIVITIES PLACE OF BUSINESSShanghai Elite Electric Vehicles Manufacture and sale of electric bicycles and People’s Republic of ChinaCo., Ltd*provision of vehicle repairs and consultancyservicesST Electronics (Taiwan) Limited# Provide integration for large-scale system projects Taiwanin rail, expressway and intelligent buildingmanagement solutionsFounders Industries Pte Ltd Investment holding and provision of management Singapore(formerly known as Charteredservices to subsidiariesIndustries of Singapore (Pte.) Limited)Singapore Technologies Kinetics Ltd(formerly known as SingaporeTechnologies Automotive Ltd)Provision of automotive engineering repair services, Singaporemaintenance, assembly, upgrading andmanufacturing of heavy vehicles, automotive designand engineering services, and trading in motorvehicles, equipment, vehicle spares and relatedaccessoriesExpert Systems Pte Ltd Dormant SingaporeSingapore Test Services Private Limited Provide professional engineering consultancy, Singaporetests, inspection, certification and related servicesSAO Industrial Services Pte Ltd Dormant SingaporeSingapore Ordnance Engineering Workshop and provision of engineering services SingaporePte LtdChartered Ammunition Industries Manufacture and sale of munition products SingaporePte LtdMobility Systems Pte Ltd Investment holding Singapore(formerly known as SAE SuppliesPte Ltd)STA Inspection Pte Ltd Inspection of heavy goods vehicles, light vehicles, Singapore(formerly known as ST Automotive buses, motorcycles and carsInspection Pte LtdChartered Pyrotechnic Industries Manufacture and sale of pyrotechnic products SingaporePrivate LimitedUnicorn International Pte Limited Trading and marketing of military products SingaporeAllied Ordnance of Singapore Manufacture and dealing in explosives and Singapore(Pte) Limitedassembly and maintenance of gunsJuzclickCar.com Pte Ltd Sale and purchase of quality used vehicles via the Singaporeinternet through on-line bidding and bargaining aswell as a host of other automotive related activitiesto cater to the needs of the general motoristsSingapore Commuter Private Limited Dormant SingaporeST Automotive Industrial Pte Ltd Dormant SingaporeSTA Investment Pte Ltd Investment dealing SingaporeST Automotive (Vietnam) Pte Ltd Investment holding SingaporeSTA Detroit Diesel-Allison (Singapore) Sales and servicing of diesel engines, automatic SingaporePte Ltdtransmissions and power generation equipmentOrdnance Development and Investment holding SingaporeEngineering Company of Singapore(Private) LimitedOrdnance Development and Manufacture and sale of weapons, weapon SingaporeEngineering Company of Singapore magazines, spares and military equipment(1996) Private LimitedSingapore Technologies Marine Ltd Construction and repair of naval and commercial Singaporevessels, design, integration, fabrication, installationof military and commercial engineering equipmentand the provision of engineering consultancy andtechnical management servicesSTSE Engineering Services Pte Ltd Contractor, developer and sub-contractor of Singaporeengineering and engineering related works andprovider of turnkey engineering solutions142 • visionnotes to the financial statements • 143
COUNTRY OF INCORPORATION/NAME OF SUBSIDIARY PRINCIPAL ACTIVITIES PLACE OF BUSINESSVision Technologies Systems, Inc. Investment holding USA(formerly known as SingaporeAerospace (USA) Incorporated)#Singapore Technologies Engineering Providing marketing services to the Group USA(USA) Inc.#ACQUISITIONS AND DISPOSALSDuring the financial year, the Group acquired 100% ofthe issued share capital of Founders Industries Pte Ltdand an additional 34% equity interest in DataMarkTechnologies Pte Ltd (“DataMark”), thereby increasingthe Group’s shareholding in DataMark from 17% to10. ASSOCIATED COMPANIES AND JOINT VENTURES51%.The profit after taxation and extraordinary items ofthe acquired subsidiaries amounts to approximately$24,084,000 for the year ended 31 December 2000(1999: $11,316,000), of which $24,084,000 arose in theperiod from the respective acquisition dates to 31December 2000.Vision Technologies Aerospace Inc. Investment holding and providing investment USA(formerly known as Visionservices to the Aerospace SectorInternational Incorporated)#ST Mobile Aerospace Engineering, Repair and maintenance of aircraft USAInc.*DalFort Aerospace, L.P.* Repair and maintenance of aircraft USADalFort Aerospace GP, Inc.# Investment holding USASA Supplies (USA) Inc.# Dormant USAVision Technologies Marine Inc.# Investment holding and providing investment USAservices to the Marine SectorGROUP2000 1999$’000 $’000Unquoted shares, at cost 124,442 71,629Provision for diminution in value of investments (6,440) (2,919)Goodwill on acquisition written off (1,737) (6,317)116,265 62,393Share of post-acquisition:Profits 29,611 92,273Reserves (353) 4,962145,523 159,628Loans to associated companies – 2,000Loans to joint ventures 9,663 9,663Provision for doubtful loans (1,711) (1,896)153,475 169,395VT Systems, Inc.# Investment holding and providing investment USAservices to the GroupSingapore Technologies Dynamics Systems integration, core product design and SingaporePte Ltddevelopment of aeronautic defence systemsST Synthesis Pte Ltd Providing armament services Singapore(formerly known as SingaporeTechnologies Integrated ServicesPte Ltd)During the financial year, cost of investment in AtlantisShipyard Pte Ltd (“Atlantis”) amounting to $6 millionhas been reclassified from an associated company to along-term investment.The management is of the opinionthat the Group is no longer able to exercise significantinfluence over the financial and operating policy makingprocess in Atlantis through its representation on theBoard of Directors of Atlantis (Note 11).The share of post-acquisition losses and reserves andgoodwill of Atlantis amounting to $1.917 million hasbeen reclassified to provision for diminution in value oflong-term investment (Note 11).The loan to an associated company, Atlantis, which isinterest-free, unsecured and with no fixed terms ofrepayment has been reclassified to loans receivable(Note 12).Loans to a joint venture are interest-free, unsecured andhave no fixed terms of repayment.Vision Technologies Kinetics, Inc.# Investment holding and providing investment USAservices to Land Systems Sector* Audited by associated firms of Arthur Andersen, Singapore# Not required to be audited by the law in the country of incorporation144 • visionnotes to the financial statements • 145
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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
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 68 and 69: 8. FIXED ASSETS (cont’d)THE GROUP
Page 70 and 71: EFFECTIVE EQUITYINTEREST HELDBY THE
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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