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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