Announcement of New Company - SembCorp Parks Management Pte Ltd

Oct 27, 1999

SembCorp Industries wishes to announce that it had set up a new company, SembCorp Parks Management Pte Ltd as the intermediate holding company to consolidate its eight industrial park management companies for management efficiency.

The eight industrial park management companies are Batamindo Industrial Management Pte Ltd, Bintan Industrial Estate Management, InterIsland Marketing Services Pte Ltd, Wuxi International Management Services Pte Ltd, Karimun Industrial Management Pte Ltd, Marketing and Consultancy Services Pte Ltd, Sembawang Development and Management Pte Ltd and Vietnam-Singapore International Marketing Pte Ltd.

The paid-up capital of SembCorp Parks Management is $8 million. SembCorp Industries holds 51% of the equity in SembCorp Parks Management. The remaining interests are held by the following companies:-

JTCI Industrial Parks Pte Ltd 19%

Seletar Investments Pte Ltd 5%

PT Megah Primawahana 25%

(collectively, "the Parties").

The Parties' parent companies and/or related corporations are shareholders in the eight industrial park management companies.

SembCorp Parks Management has two wholly-owned subsidiaries: Riau Infrastructure Management Services Pte Ltd, for services provided in Indonesia; and Regional Infrastructure Management Pte Ltd, for services provided in People's Republic of China and Vietnam respectively.

Mr Goh Song How is the President of SembCorp Parks Management.

By Order of the Board
Linda Hoon Siew Kin
Group Company Secretary
October 27, 1999

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