Incorporation of a Wholly-owned Subsidiary

Thursday 6 September 2018

Sembcorp Marine Ltd announced that its wholly owned subsidiary Sembcorp Marine Integrated Yard Pte Ltd has established a fully owned subsidiary in Norway, Sevan SSP AS, with an initial issued and paid-up share capital of NOK30,000 divided into 300 ordinary shares of issue price NOK100 each.

Sevan SSP will house the staff transferred from Sevan Marine ASA and will provide products and services to the oil and gas industry.

The incorporation of Sevan SSP was funded by internal resources and is not expected to have any material impact on the consolidated net tangible assets per share or earnings per share of the Company for the financial year ending 31 December 2018.