Media Releases

Sembcorp Industries (Sembcorp) launched the Sembcorp Energy for Good Fund today. The initiative aims to support community development with an initial injection of S$1.5 million by the Group. This year, over S$1 million will be used to provide relief to the social sector and migrant workers – to ensure these support pillars of the community can continue to deliver essential services amid the COVID-19 pandemic. In addition, the Fund will also show appreciation to essential workers in the energy, water, waste and environmental services.

Sembcorp (China) Holding Co, a wholly-owned subsidiary of Sembcorp Industries (“Sembcorp”), today announced that it has signed a Memorandum of Understanding (“MOU”) with GDS Holdings Limited (“GDS Holdings” or “GDS”) (NASDAQ: GDS), a developer and operator of high-performance data centres in China.

National Water Agency PUB and Sembcorp Floating Solar Singapore, a wholly-owned subsidiary of Sembcorp Industries (Sembcorp), are pleased to announce the commencement of construction of the 60 megawatt-peak (MWp) floating solar photovoltaic (PV) system on Tengeh Reservoir.

Sembcorp Energy India Limited (SEIL), a wholly-owned subsidiary of Sembcorp Industries, today commemorated the completion of 800MW of Solar Energy Corporation of India (SECI) wind power projects, bringing its operational renewable energy capacity in India to 1,730MW.

In the first half of 2020 (1H2020), Sembcorp Industries (Sembcorp) posted a turnover of S$3.5 billion and a net loss of S$131 million. This was mainly due to losses in the Marine business, and exceptional items recorded for the Group.

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.

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