Media Releases

SMOE, the Oil and Gas division of SembCorp Utilities (SembUtilities), in partnership with Saipem Asia, has been awarded a S$280 million turnkey contract by Devon Energy China for the Panyu Joint Development in the South China Sea. The project is scheduled for completion in the third quarter of 2003.

SembCorp Industries wishes to announce that it has undertaken a shareholding restructuring exercise to enable SembCorp Industries Ltd to hold the shares in its four key Strategic Business Units (SBUs) direct, instead of holding them through intermediate wholly owned subsidiaries.

SembCorp Utilities, BP Holdings, and a consortium of Kyushu Electric Power Co., and Nissho Iwai Corporation have signed an agreement on August 31, 2001, under which each will assume a 33.3 per cent ownership of the Vietnam company Phu My 3 BOT Power Company Ltd. (Phu My 3).

SembCorp Industries wishes to announce that following the news release of August 22, 2001 on the disposal of its entire equity interest in Permasteelisa Pacific Holdings Ltd, the sale and purchase transaction between Singajaya Investment Pte Ltd and Permasteelisa International B.V. is completed.

SembCorp Utilities today announced the completion of its hazardous waste incineration plant - one of the largest of its kind in the region. Located at SUT Seraya, SembCorp Utilities’ Centralised Utilities division on Jurong Island, the facility can process 70 tonnes of hazardous waste per day.

SembCorp Cogen, a joint venture between SembCorp Utilities (70 per cent) and Tractebel (30 per cent), has completed the commissioning of its co-generation plant (Cogen) on Jurong Island, Singapore.

SembCorp Waste Management (SembWaste), a wholly-owned subsidiary of SembCorp Industries, has secured through its subsidiary, Semac, S$3.3m worth of contracts to provide waste collection and refuse disposal services to the CapitaLand group of companies, including CapitaLand Commercial, Raffles International, The Ascott and Premas International. The contracts are for a two-year period.

SembCorp Waste Management (SembWaste), a wholly-owned subsidiary of SembCorp Industries, unveiled its revamped B2B portal, www.gowaste.com.sg today at the Water and Waste Tech Asia 2001 exhibition at the Suntec International Convention and Exhibition Centre.

SembCorp Industries announces that its wholly-owned subsidiary, SembCorp Utilities Pte Ltd, has on August 31, 2001 acquired the remaining 10 per cent equity held by EDB Investments Pte Ltd (EDBI) in the capital of SembCorp Cogen Pte Ltd comprising 6,780,000 ordinary shares of $1.00 each and 250 redeemable preference shares of S$1.00 each with a premium of $9,999 each for a total consideration of $11,174,198.

Recent reports have implied that SembCorp Industries is in talks with IBRA to acquire further stakes in the Batamindo Investment Corporation, Bintan Inti Industrial Estate and the Karimun Parks.

SembCorp Industries wishes to announce that Semac, a wholly owned subsidiary of SembCorp Waste Management, has obtained leave from the High Court of Singapore to reduce its issued and fully paid-up capital from $82,500,000 divided into 82,500,000 ordinary shares of $1.00 each to $32,500,000 divided into 32,500,000 ordinary shares of $1.00 each.

Further to the announcement made on August 22, 2001, SembCorp Industries wishes to elaborate that the consideration of $12,600,000 received in respect of the disposal of its 20 per cent equity interest of 40,000,000 ordinary shares of par value $0.10 each in Permasteelisa Pacific Holdings Ltd at $0.315 per share was on a willing-buyer-willing-seller basis.

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