19 Dec 2001

SembCorp Marine announcement

SembCorp Marine has entered into an agreement to acquire a 20 per cent stake in Dalian Cosco Marine Engineering Co., which is part of the China Ocean Shipping Group Co. (COSCO).

The investment is estimated to cost approximately US$8.3 million. This acquisition is however subject to approval from the government of the People’s Republic of China.

Submitted by Lim Seh Li, Company Secretary on 19/12/2001 to the SGX