Media Releases

Sembcorp Industries and Sembcorp Marine are today proposing the recapitalisation of Sembcorp Marine through a S$2.1 billion renounceable rights issue (the “Rights Issue”), followed by a proposed demerger of the two companies via a distribution in specie (the “Proposed Distribution”) of Sembcorp Industries’ stake in the recapitalised Sembcorp Marine to Sembcorp Industries shareholders.

This announcement sets out Sembcorp Industries (Sembcorp) update on the impact of the COVID-19 pandemic on Sembcorp’s businesses and its FY2020 outlook.

Singapore’s National Water Agency PUB, and Sembcorp Floating Solar Singapore, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), are pleased to announce today the signing of a 25-year power purchase agreement (PPA) to build a 60 megawatt-peak (MWp) floating solar photovoltaic (PV) system on Tengeh Reservoir.

Sembcorp Industries (Sembcorp) is pleased to launch Singapore’s first renewable energy certificate (REC) platform that manages RECs from multiple sources. Backed by the company’s fast-growing renewable power capacity in China and Southeast Asia, the Sembcorp REC platform enables customers to transact RE100-recognised RECs to meet their green energy requirements.

Sembcorp Industries is pleased to announce its leadership succession. Neil McGregor, who will turn 65 this year, will be retiring as Group President & CEO on June 30, 2020. He will be succeeded by Wong Kim Yin, 50, with effect from July 1, 2020. Mr McGregor will remain as advisor until December 31, 2020.

Sembcorp Industries (Sembcorp) posted a net profit of S$247 million and turnover of S$9.6 billion for full year 2019 (FY2019), compared to S$347 million and S$11.7 billion respectively in FY2018. Excluding exceptional items, underlying Group net profit grew 17% to S$395 million.

Singapore Airlines (SIA) and SIA Engineering Company (SIAEC) have signed a power purchase agreement with Sembcorp Solar, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), to install and operate rooftop solar panels on their premises.

Sembcorp Industries (Sembcorp) announces that it has, through its wholly-owned subsidiary Sembcorp Solar Singapore, been named as the preferred bidder to build a 60 megawatt-peak (MWp) floating solar photovoltaic (PV) system on Tengeh Reservoir. When completed in 2021, it will be one of the world’s largest single floating solar PV systems.

Sembcorp Industries (Sembcorp) announces that it has, through its wholly owned subsidiary SembWaste, entered into a sale and purchase agreement with Veolia Environmental Services Asia to acquire 100% equity interest in Veolia ES Singapore (VESS) and the public cleaning business of Veolia ES Singapore Industrial (VESSI) for approximately S$28 million. Completion of the deal is subject to conditions precedent including regulatory approvals.

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