Media Releases

SembCorp Marine wishes to announce that at the Court Meeting of Scheme Shareholders held this morning, the Scheme Shareholders have not approved the Scheme of Arrangement to privatise the Company (the ""Scheme"") as announced by the Company on June 24, 2002.

SembCorp Industries has noted the existence of market rumours and speculation that (a) it is selling its 62 per cent stake in SembCorp Logistics or (b) that it is taking SembCorp Logistics private.

Proposed sale of SFI at $0.70 per share by way of a renounceable preferential offer to shareholders of SembCorp Industries

On October 1, 2002, Wong Heang Fine (44) will join SembCorp Industries’ subsidiary - SembCorp Engineers and Constructors (SembE&C) - as its President and CEO.

SembCorp Industries today released its 1H02 Results. Profit after Tax and Minority Interest (PATMI) was $96 million. PATMI before Exceptional Items grew 9 per cent to $70m against 1H02. ROE (annualised) was 13 per cent while the Group orderbook (combining Marine Engineering, SMOE, and Engineering & Construction) totalled $4 billion.

Mr Paul Chain, President & CEO of SembCorp Engineers and Constructors (SembE&C) – the engineering and construction Key Business of SembCorp Industries -- has submitted his resignation which was accepted today. He will leave the Group in November 2002 and SembCorp Industries has identified a successor who will be named shortly.

SembCorp Industries wishes to announce that Singapore Precision Industries Pte Ltd (“SPI”), a wholly owned subsidiary of Singapore Technologies Industrial Corporation Limited (“STIC”), has obtained leave from the High Court of Singapore to reduce its issued and fully paid-up capital from $28,000,000 divided into 28,000,000 ordinary shares of $1 each to $15,000,000 divided into 15,000,000 ordinary shares of $1 each. This has been carried out by canceling 13,000,000 of the issued and fully paid-up ordinary shares of $1 each in SPI and returning the sum of $13,000,000 to STIC.

Two business units of SembCorp Industries, SMOE and Sembawang Shipyard, have jointly completed the fabrication and integration of the topside facilities for a Floating, Production, Storage and Offloading (FPSO) vessel for the Shell Petroleum Development Company of Nigeria Ltd.

The Board of Directors of SembCorp Industries Ltd (“SCI” or the “Company”) wishes to announce that the Company has been granted a waiver by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) from having to seek SCI shareholders’ approval under Clause 1014 of the SGX-ST Listing Manual in connection with the proposed privatisation (the “Privatisation”) by the Company of SembCorp Marine Ltd (“SCM”).

SembCorp Industries announces today that it has increased the size of its Medium Term Note (MTN) Programme from $500 million to $2 billion.

SembCorp Waste Management (SembWaste), a wholly-owned subsidiary of SembCorp Industries, has launched its first major corporate philantrophy programme for the needy and less privileged children.

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