(1) Dissolution of a Dormant Wholly Owned Subsidiary (2) Striking Off of Dormant Wholly Owned Subsidiaries
Singapore, 2 March 2021 – Sembcorp Marine Ltd (“SCM” and together with its subsidiaries, the “Group”) wishes to announce that:
(i) SembCorp Holdings, LLC (“SHL”), an entity organized under the laws of Texas, United States of America, has been dissolved by way of voluntary winding
(ii) Straits Offshore Pte. Ltd. (“STOF”), an entity incorporated in Singapore, has submitted an application to the Accounting and Corporate Regulatory Authority to strike its name off the register pursuant to Section 344A of the Companies Act, Chapter 50 of Singapore.
(iii) SES Engineering (M) Sdn. Bhd. (“SEMSB”), an entity incorporated in Malaysia, has submitted an application to the Companies Commission of Malaysia to strike its name off the register pursuant to Section 550 of the Companies Act 2016 of Malaysia.
SHL, STOF and SEMSB are dormant wholly owned subsidiaries of SCM. The dissolution of SHL and the striking off of STOF and SEMSB (the “Transactions”) are part of an internal exercise to rationalise and streamline the Group’s corporate structure and operations.
The Transactions are not expected to have a material impact on the earnings per share and net tangible assets per share of the Group for the financial year ending 31 December 2021.
None of the directors or controlling shareholders of SCM have any interests, direct or indirect, in the Transactions other than through their shareholdings (if any) in SCM.
For more information, please contact:
Ms Chua Mun Yuen
Head of Investor Relations and Corporate Communications
DID: +65 6971 7039
Mr Daoyi Lin
Manager, Corporate Communications
DID: +65 6971 7040
For the pdf version of this announcement, please click here.