As from April 2013 my Journey in Investing is to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

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Friday, 7 June 2013

SEMBCORP’S SOLID WASTE MANAGEMENT SUBSIDIARY AWARDED S$299 MILLION REFUSE COLLECTION AND RECYCLING CONTRACT IN SINGAPORE

Singapore, June 7, 2013 - Sembcorp Industries announces that its solid waste management subsidiary, SembWaste, has been awarded a contract worth a total of S$299 million by the National Environment Agency (NEA) to provide refuse collection and recycling services to the City-Punggol sector of Singapore.

Sembcorp is currently the largest solid waste management provider in Singapore serving five out of nine geographical sectors in the country. The City-Punggol sector will be formed by the merging of two current sectors served by SembWaste since 2006 under existing contracts: namely the City and the Hougang-Punggol sectors. Sembcorp’s contract for the newly-merged sector will take effect upon the expiry of its existing contracts for City and Hougang-Punggol on October 1, 2013, and March 1, 2014, respectively. The new contract will last until June 30, 2021.

This transaction is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the current financial year.

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