| Miscellaneous | |
| * Asterisks denote mandatory information | |
| Name of Announcer * | SEMBCORP INDUSTRIES LTD |
| Company Registration No. | 199802418D |
| Announcement submitted on behalf of | SEMBCORP INDUSTRIES LTD |
| Announcement is submitted with respect to * | SEMBCORP INDUSTRIES LTD |
| Announcement is submitted by * | Kwong Sook May |
| Designation * | Company Secretary |
| Date & Time of Broacast | 31-Oct-2007 21:59:35 |
| Announcement No. | 00206 |
| Price Sensitivity | No |
| >> Announcement Details | |
| The details of the announcement start here ... |
| Announcement Title * | DIVESTMENT OF SEMBENVIRO KK ASIA PTE LTD |
| Description | October 31, 2007 DIVESTMENT OF SEMBENVIRO KK ASIA PTE LTD Sembcorp Industries Ltd (the "Group") announces that its wholly-owned subsidiary, Sembcorp Environmental Management Pte Ltd ("SembEnviro") has divested its entire 90 per cent shareholding in SembEnviro KK Asia Pte Ltd ("SKKA") comprising 13,500,000 ordinary shares. Following the divestment, SKKA ceased to be a subsidiary of the Group. SKKA is in the business of recycled plastic collection, sorting, processing and manufacturing of plastic resins, as well as trading of recycled plastics. The unaudited net liabilities of SKKA as of June 30, 2007 was $3.1 million. SembEnviro will waive its $1.2 million shareholder loan extended to SKKA and receive $0.2 million for its 90% equity shareholding in SKKA. The divestment will result in a write back of approximately $3 million. The terms of the divestment were decided on a willing buyer willing seller basis. The divestment is not expected to have a material impact on the Group''s earnings per share and the net tangible asset value per share for financial year ending December 31, 2007. None of the directors or the controlling shareholders of Sembcorp Industries has any interest, direct or indirect, in the divestment. By Order of the Board Kwong Sook May (Ms) Company Secretary --END-- ABOUT SEMBCORP Sembcorp Industries Ltd is a leading utilities and marine group. The Group provides centralised utilities and energy to industrial customers in Singapore, the United Kingdom, Asia and the Middle East. It is a global leader in marine and offshore engineering and also a provider of environmental and industrial park management services in the region. Sembcorp has total assets of over S$7.0 billion and employs more than 7,500 employees. Listed on the main board of the Singapore Exchange, Sembcorp is a component stock of the Straits Times Index and several MSCI indices. |
