Disposal Of Entire Shareholding In Sichuan Huayang Garden City Hotel Co., Ltd

China, Dec 29, 2004

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. 

We would like to clarify that the consideration was arrived at on a willing buyer willing seller basis taking into account the Net Tangible Asset of SHGC as well as shareholder’s loans extended amounting to U$1.36 million. 
 
 
By Order of the Board 
Linda Hoon Siew Kin
Group Company Secretary

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