Media Releases

SembCorp Industries refers to its announcement dated December 28, 2004 in relation to the disposal of its entire 51% shareholding in Sichuan Huayang Garden City Hotel Co., Ltd (“SHGC”) for a total consideration of RMB15 million.

SembCorp Industries wishes to announce that its wholly owned subsidiary, Singapore Technologies Industrial Corporation Ltd, has disposed of its entire 51% shareholding in Sichuan Huayang Garden City Hotel Co., Ltd (“SHGC”) for a total consideration of RMB15 million.

Following our earlier announcement dated November 8, 2004, SembCorp Marine (the “Company”) is pleased to announce that the PRC regulatory authority has recently issued the business licence to Cosco Shipyard (Group) Co., Ltd (“COSCO Shipyard”) for the Sino-foreign joint venture relating to the Company’s acquisition of 30 per cent in the registered capital of COSCO Shipyard.

December 27, 2004 – SembCorp refers to its announcement of December 8, 2004 regarding its proposed distribution of approximately $306 million to shareholders comprising a special gross dividend of $114 million (net dividend $91 million) and a capital reduction of $215 million.

Jurong Shipyard, a subsidiary of SembCorp Marine has signed two shipbuilding contracts worth S$143 million from Wan Hai Lines Ltd. The new orders for the pair of 2,646 TEU container ships were signed in Taipei recently and brought the total order from Wan Hai Lines to six container ships.

Following its earlier announcement, SembCorp Industries is pleased to announce that the Malaysian International Trade & Industry (MITI) has granted approval for its fully owned subsidiary, SembCorp Utilities to divest its 30% equity stake in the registered capital of Sime SembCorp Engineering Sdn. Bhd.

Jurong SML, SembCorp Marine’s mid-sized shipyard has secured a shipbuilding deal worth US$32 million to construct two units of 4,950 dwt tankers for Kuwait Oil Tanker Company S.A.K. (KOTC).

SembCorp Industries (“SCI”) wishes to announce that its wholly-owned subsidiary, SembCorp Parks Holdings Ltd (“SCP”) had entered into a Sale & Purchase Agreement with Seletar Investments Pte Ltd and Hong Lim Investments Pte Ltd for the acquisition of shares:-

Jurong Shipyard, a subsidiary of SembCorp Marine has secured a rig building deal worth US$131 million with Petrojack AS for the construction of a Baker Marine Pacific Class 375 Deep Drilling Offshore Jack- Up Rig

SembCorp Environmental Management Pte Ltd (SembEnviro) has been awarded the prestigious IHQ status by the Singapore Economic Development Board (EDB), first to confer a Singapore based environmental services company.

SembCorp Industries (""SCI"") refers to SembCorp Logistics’ (“SCL”) announcements on October 11, 2004 on its proposed total distribution of $1.0 billion to its shareholders (the SCL distribution), comprising $750 million in special dividend and $250 million in capital reduction and on December 6, 2004 on its payment of special dividend comprising a gross dividend of $202.91 million (net: $162.33 million) and a one tier tax exempt dividend of $587.67 million.

SembCorp Industries (“SCI”) announces that the High Court of England has, on 25 November 2004, dismissed the appeal of Sembawang Corporation (“Sembawang”) in respect of the “Choice of Yard” ruling made by the Arbitration Tribunal in the “Solitaire” ship conversion dispute.

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