SembCorp Marine's subsidiary Jurong Clavon forms an Associated Company with Cosco Shipyard Group in China

新加坡, 2004年6月4日

The Board of Directors of SembCorp Marine Ltd (“SembCorp Marine”) wishes to announce that its subsidiary, Jurong Clavon Pte Ltd (Jurong Clavon) has formed an associated company with Cosco Shipyard Group Company (COSCOSG) to provide corrosion control consultancy, staging, copper slag processing and trading, blasting and painting services to shipyards in the People’s Republic of China.

The associated company will be known as Cosco Shipyard Jurong Clavon Co. Ltd (Cosco-Clavon) with Jurong Clavon and COSCOSG holding 40 per cent and 60 per cent of the equity of Cosco-Clavon respectively. The initial paid-up capital of Cosco-Clavon is US$1.9 million. Jurong Clavon’s investment will be US$760,000 and will be funded internally from its own resources.

The investment is not expected to have a material impact on SembCorp Marine’s earnings per share and net tangible asset per share for the current financial year.

For media & analysts’ enquiries, please contact:
Judy Han (Ms)
Vice President
Investor Relations & Communications
Tel No: (65) 6262-7203
Fax No: (65) 6261-0738


About Jurong Clavon

Jurong Clavon is a 55 per cent owned subsidiary of SembCorp Marine, a leading global marine engineering group comprising of seven strategically located shipyards specialising in ship repair, shipbuilding, ship conversion, rig building and offshore engineering. Jurong Clavon’s principal activities include the provision of a wide range of blasting, painting and corrosion control services to shipyards.

About Cosco Shipyard Group

Cosco Shipyard Group is a fully owned subsidiary of China Ocean Shipping Company (COSCO), the largest shipping company in China.  The Cosco Shipyard Group comprises the five shipyards of Nantong, Dalian, Guangzhou, Shanghai and Xiamen that are strategically located along China’s coast line. As China’s leading shipyard group, the Cosco Shipyard Group’s principal activities include ship repair and ship conversion.

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