01 Nov 2017

Sale of 100% equity interest in Jurong Autoblast Services Pte Ltd

Singapore, November 1, 2017: Sembcorp Marine Ltd (the “Company”) wishes to announce that its wholly owned subsidiary, Jurong Shipyard Pte Ltd (“JSPL”), has sold its 100% equity interest in Jurong Autoblast Services Pte Ltd (“JAS”) to a party unrelated to the Company (the “Sale”). The aggregate cash consideration for the Sale is S$349,943.00.

The principal activities of JAS are surface preparation of steel plates, and structures and marine engineering services.

The consideration was agreed between the parties on a willing-buyer and willing-seller basis after taking into consideration the net asset value of JAS of S$382,961.00 as at 31 October 2017.

Following the sale, JAS ceases to be a subsidiary of JSPL. 

The above transaction is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the financial year ending 31 December 2017.

None of the directors or controlling shareholders of the Company have any interest, direct or indirect, in the above transaction.

 

For further information, please contact:

Analysts’ queries:  

Ms Lisa Lee
Head of Investor Relations
Tel No: (65) 6262 7107
Email: lisa.lee@sembmarine.com


Media queries:

Mr David Wong
Head of Corporate Communications
Tel No: (65) 6262 8036
Email: david.wong@sembmarine.com

 

For the PDF version of this announcement, please click here.

 

About Sembcorp Marine
Sembcorp Marine provides innovative engineering solutions to the global offshore and marine industry, drawing upon more than 50 years of track record. We focus on four key capabilities, namely, Rigs & Floaters; Repairs & Upgrades; Offshore Platforms; and Specialised Shipbuilding. Our customers include major oil companies, drilling contractors, shipping companies as well as owners and operators of floating production units. 

We operate shipyards strategically located in Singapore, Indonesia, the United Kingdom and Brazil.

Discover more at www.sembmarine.com.

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