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their audit to the independent directors of theAudit Committee.The Committee was briefed by Arthur Andersen, thenew auditors for the Group on their roles andresponsibilities and the planned audit approach withspecial attention on risk areas and activities of theGroup.The Committee also addressed IT securityissues and improvements to IT security infrastructureand controls to constantly ensure a secure operatingenvironment.The Budget & Finance Committee held three meetingsduring the year.The Committee comprises Mr TanGuong Ching as Chairman, Mr Philip Tan, Mr LucienWong, all of whom are independent members and MrBoon Swan Foo.The Committee held three meetings during the year.During the year, the Committee reviewed and approvedthe Group’s contractual and legal policies checklist to aidcontract negotiators in addressing critical issues andcontaining major risk factors affecting the Group’sliabilities during contract negotiations.The checklist isbeing reviewed regularly.The Committee also reviewed unusual liability issuesin contract terms with major customers, factoringarrangement with subcontractors and factoring companies,risk management in new e-bidding car tradingsystem and counter-risk measures.The Committee further reviewed the Group’s forexposition. No major issue was brought to its attention.The Technology Committee is chaired by Mr Peter Hoand consists of Prof Lui Pao Chuen and Mr Boon SwanFoo.The Committee met three times during the year toreview technology development plans of the Groupfrom the development of identified technologies to thebuildup of capabilities for cross-learning and applicationin each of the sectors.The Research & Development Committee is chaired byProf Lui Pao Chuen and comprises Mr Winston Tan andMr Boon Swan Foo. It held three meetings during theyear.The Committee reviewed R&D initiatives for1999 and the Group’s R&D Plan for 2000 with theobjective of strengthening core competencies andsustaining core engineering expertise.The ST EnggInnovation Award to encourage research anddevelopment efforts and sharing continued into itssecond year.The Senior HR Committee is chaired by Ms Ho Chingand consists of Mr Boon Swan Foo, Mr Tan Guong Chingand Mr Peter Ho.The Committee met once during theyear to discuss proposed changes in senior appointmentsas well as training and development of senior staff andstaff with potential for senior positions in the Group.STATEMENT OF COMPLIANCEThe Board of Directors confirms that during the yearended 31 December 2000, the Company has compliedwith the ST Engg Corporate Governance Policy whichis modelled on the principles of the SGX BestPractices Guide.Activities involved the quarterly and half year review offinancial results in relation to the budget, e-businessinitiatives and five-year forecast of each sector as well asthe annual budget process.The Business Investment/Divestment Committeecomprises Mr Tan Guong Ching, Chairman andMr Winston Tan who are independent members, MrPeter Ho, MG Lim Chuan Poh and Mr Boon Swan Foo.Mrs Lim Hwee Hua, a director of ST Kinetics, is a cooptedmember.The Committee held one meeting duringthe year to review a strategic investment proposal by thesubsidiaries.The fact that the Committee had only onemeeting this year is by no means a reflection of lack ofinvestment opportunities. In March 2000, the Boardraised the approval limit for investments by the DeputyChairman & CEO to S$25m. Furthermore investment/acquisition opportunities under review are not raised tothe Committee at the preliminary stage.The Legal Committee, which met thrice during the year,comprises Mr Lucien Wong as Chairman, Mr Boon SwanFoo, Mr Philip Tan and Mr Winston Tan. Assoc Prof TanCheng Han, a Director of ST Aero, is a co-optedmember.The Legal Committee’s objective is to providelegal guidance and directions on all important legalmatters of the Group.The Risk Review Committee is chaired by MG LimChuan Poh and members consist of Mr Winston Tan, DrPhilip Pillai, Mr Chang See Hiang (co-opted member andBoard member of ST Marine) and Mr Boon Swan Foo.The Compensations Committee is chaired by Ms HoChing with Mr Ng Kee Choe and Mr Fock Siew Wah(co-opted) as independent members.The Committeemet twice during the year to assess the performance ofkey executives, determine the bonus award for 1999,review salaries and approve the incentives plan for keyexecutives for Year 2000. Mr Fock stepped down fromthe Committee at the end of the year.We are grateful tohim for his contribution and time.The ESOS Committee is chaired by Ms Ho Ching andconsists of Mr Ng Kee Choe and Mr Tan Guong Chingwho are independent members.The Committee mettwice during the year to decide on option grants.Following the approval in November 2000 of theST Engg Share Plans, the functions of both the ESOSCommittee and the Compensations Committee havebeen merged under the Executive Resource &Compensation Committee (ERCC).The ERCC comprises Ms Ho Ching as Chairman, MrNg Kee Choe and Mr Tan Guong Ching.The Tenders Committee comprises a rolling list of anythree Directors and the CEO.The Committee met twicelast year to discuss various issues relating to the US Bionixprogramme such as programme schedules, strategies, riskfactors, costing, funding, pricing, strategy, payment termsand projected financial impact.The Meetings were chairedby Mr Tan Guong Ching and attended by Mr LucienWong, Mr Winston Tan and Mr Boon Swan Foo.178 • visionadditional information • 179
BOARD COMPOSITION AND COMMITTEESSHAREHOLDINGS STATISTICSAS AT 8 FEBRUARY 2001Board MembersMs Ho ChingAudit CommitteeBusiness Investment/Divestment CommitteeExecutive Resource &Compensation CommitteeCBudget & Finance CommitteeResearch & DevelopmentCommitteeTechnology CommitteeSenior HR CommitteeCRisk Review CommitteeLegal CommitteeTenders Committee *Authorised Share Capital : $500,000,000.00Issued and Paid-Up Capital: $285,741,514.70Class of Shares : Ordinary Shares of $0.10 eachOne Special Share of $0.10 held by the Minister for Finance (Incorporated)Voting Rights: One vote per shareANALYSIS OF SHAREHOLDINGSRANGE OF SHAREHOLDINGS NO. OF SHAREHOLDERS % NO. OF SHARES %1 – 1,000 3,717 19.63 2,555,308 0.091,001 – 10,000 12,713 67.14 56,310,390 1.9710,001 – 1,000,000 2,482 13.11 93,042,576 3.261,000,001 And Above 22 0.12 2,705,506,873 94.6818,934 100.00 2,857,415,147 100.00Mr Boon Swan FooMr Ng Kee ChoeMr Tan Guong ChingMr Peter HoMG Lim Chuan PohProf Lui Pao ChuenDr Philip PillaiMr Philip TanMr Winston TanMr Lucien WongNon-Board MembersMrs Lim Hwee HuaMr Chang See HiangAssoc. Prof.Tan Cheng HanCMMMM M M M M M M MC M C MMMMCo-optedMemberDenotesC – ChairmanM – Member* Membership comprises a rolling list of any three Directors and the CEOMMMCMCMMCMMCo-optedMemberMMCCo-optedMemberCMMNO. OF SHARESSUBSTANTIAL SHAREHOLDERS DIRECT INTEREST DEEMED INTEREST TOTAL INTEREST %1 Temasek Holdings (Private) Limited – 1,619,473,137 1,619,473,137 56.682 Singapore Technologies Holdings Pte Ltd – 1,599,249,719 1,599,249,719 55.973 Singapore Technologies Pte Ltd 1,599,168,719 277,000 1,599,445,719 55.984 The Capital Group Companies, Inc. – 224,604,115 224,604,115 7.86MAJOR SHAREHOLDERS LIST – TOP 20NO. NAME NO. OF SHARES HELD %1 Singapore Technologies Pte Ltd 1,599,168,719 55.972 DBS Nominees Pte Ltd 370,546,700 12.973 Raffles Nominees Pte Ltd 339,253,187 11.874 HSBC (Singapore) Nominees Pte Ltd 116,100,586 4.065 CitiBank Nominees Singapore Pte Ltd 86,395,879 3.026 United Overseas Bank Nominees Pte Ltd 68,994,440 2.417 DB Nominees (S) Pte Ltd 52,819,814 1.858 Keppel Corporation Limited 15,000,000 0.539 Oversea Chinese Bank Nominees Pte Ltd 14,233,845 0.5010 Overseas Union Bank Nominees Pte Ltd 8,778,073 0.3111 Dexia Nominees (S) Pte Ltd 6,754,429 0.2412 RHB-Cathay Securities Pte Ltd 6,465,651 0.2313 ABN Amro Nominees Singapore Pte Ltd 3,996,570 0.1414 Ang Beng Siong @ Hendrik Atmaja 2,706,947 0.0915 J M Sassoon & Co (Pte) Ltd 2,568,528 0.0916 NTUC Income Insurance Co-Operative Limited 2,213,408 0.0817 Keppel Bank Nominees Pte Ltd 2,127,555 0.0718 Shanwood Development Pte Ltd 2,077,000 0.0719 G K Goh Stockbrokers Pte Ltd 1,533,413 0.0520 E.G. Tan Nominees Private Limited 1,420,624 0.052,703,155,368 94.60180 • visionshareholdings statistics • 181
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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
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 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 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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