SembCorp Industries Annual Report 2005

(Pictured) SembCorp Utilities’ Shanghai Caojing Cogeneration plant, the largest combined cycle gas turbine power plant in China, is located in Shanghai Chemical Industrial Park.

Significant Events in 2005

JANUARY

SembCorp Logistics (SembLog) forms two separate 51:49 joint ventures to expand its supply chain management operations to Indonesia and the Philippines.

SembCorp Engineers and Constructors’ (SembE&C) unit SembCorp Simon-Carves secures contract to design the world’s largest single-stream Low Density Polyethylene plant for Huntsman at the Wilton International site on Teesside, UK.

FEBRUARY

SembCorp Utilities’ (SembUtilities) unit SMOE, in partnership with Sembawang Shipyard, secures a US$200 million order to build and integrate floating production, storage and offloading topsides for ConocoPhillips China.

SembUtilities divests its 30% stake in Kwinana Cogeneration Plant in Australia for S$32 million.

SembCorp Marine’s (SembMarine) PPL Shipyard secures two rig building contracts worth US$253.3 million from Apexindo and Sinvest.

SembMarine’s subsidiary, Jurong Shipyard secures a US$50 million contract to fabricate a deep draft semi-submersible hull for Atlanta Offshore.

In partnership with Huisman Special Lifting Equipment, SembMarine’s subsidiary, Sembawang Shipyard secures a US$150 million contract to design and construct a pipelay vessel for SapuraCrest Petroleum.

MARCH

SembCorp Industries divests its remaining 28.8% equity stake in Pacific Internet for S$43.4 million.

SembCorp Utilities UK (SembUtilities UK) receives approval to build Wilton 10, a 30 megawatt wood-burning power station and one of the largest biomass renewable energy projects in the UK.

PPL Shipyard secures a US$121 million rig building contract from Wilsuperior.

APRIL

PPL Shipyard secures a US$129 million rig building contract from Seatankers Management.

Jurong Shipyard secures a US$127.1 million rig building contract from Petrojack.

MAY

SembCorp Industries appoints Tang Kin Fei as Group President & CEO. Mr Tang succeeds Deputy Chairman & CEO Wong Kok Siew who passed away while in office in February 2005.

SembCorp Industries distributes S$214.8 million to shareholders via a capital reduction exercise.

PPL Shipyard secures a US$130 million rig building contract from Japan Drilling.

SembLog conducts a S$250 million capital reduction exercise.

JUNE

SembUtilities forms an 80:20 joint venture to provide third-party wastewater treatment services in the ZhangJiaGang Free Trade Zone in Jiangsu Province, China.

Jurong Shipyard secures a US$780 million contract to build two ultra-deepwater semi-submersible rigs for Seatankers and a US$131 million contract to build a jack-up rig for Petrojack.

JULY

SembCorp Industries launches the Group-wide Trailblazer-Wong Kok Siew Fund focusing on children, youth and education to give talented young people a headstart in life.

AUGUST

Jurong Shipyard secures orders worth US$804 million to build two ultra-deepwater semi-submersible rigs for PetroMena and SeaDrill.

OCTOBER

PPL Shipyard secures a US$144 million rig building contract from Awilco Offshore.

PPL Shipyard establishes a strategic hub in the Gulf of Mexico through its acquisition of Sabine Shipyard in Texas, USA.

NOVEMBER

SembCorp Industries appoints Heng Chiang Gnee to the post of President & CEO of SembCorp Environmental Management.

SembUtilities receives the 2005 International Business Award from the UK Trade & Investment in recognition of its strategic and long-term investment in the UK.

SembUtilities acquires a 70% stake in NCIP SembCorp Water to build, own and operate a water treatment facility in Nanjing Chemical Industrial Park, China.

SembUtilities UK receives the British Safety Council’s prestigious Sword of Honour award for the management of workplace health and safety.

DECEMBER

SembUtilities’ subsidiary, SembCorp Gas secures its first Compressed Natural Gas (CNG) commercial supply contract with SMART Automobile to power Singapore’s first fleet of CNG taxis.

SembUtilities acquires a 34% stake in NCIP SembCorp Utilities and becomes the exclusive provider of third-party integrated utilities services within Nanjing Chemical Industrial Park, China.