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13 August 2020 The on-line newspaper devoted to the world of transports 22:05 GMT+2

June 9, 2020

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Sembcorp Marine to be spun off from Sembcorp Industries

Expected to raise capital by USD 1.5 billion

The shipbuilding company Sembcorp Marine Singapore to be spun off from Sembcorp Industries, a company which is part of Temasek Holdings, and the procedure will be recapitalised by USD 2.1 billion Singapore (1.5 billion U.S. dollars) of Sembcorp Marine and through a securities distribution to Sembcorp shareholders Industries of Semborp Industries' stake in recapitalized Sembcorp Marine.

Sembcorp Marine has five shipyards in Singapore and two shipbuilding plants in Indonesia. In addition, the company owns a shipyard in Brazil (Estaleiro Jurong Aracruz) and one in the United Kingdom (Sembmarine SLP) as well as other companies technology, including five in Norway.

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