SembCorp Industries One of Singapore’s largest government- linked companies. SembCorp Industries Ltd was incorporated on 20 May 1998, following the merger of two Singapore Exchange- listed companies, Singapore Technologies Industries Corp and Sembawang Corp. As of 2006, SembCorp Industries had assets exceeding $7 billion in five core business areas: utilities, engineering and construction, environmental engineering, logistics and marine engineering. It is the largest engineering and construction company in Asia outside Japan and South Korea, and runs the largest ship repair and conversion operation in East Asia. The company has more than 12,000 employees.
SembCorp Industries is among the largest 20 companies in Singapore by market capitalization, and its listed counter is a component of the Straits Times Index, FTSE/Hang Seng Asian Sector Indexes and several MSCI indices. It posted net earnings of $303.3 million on a turnover of $7.4 billion for financial year 2005. One of its units, SembCorp Marine, is also listed on the Singapore stock exchange. Temasek Holdings owns more than 50 per cent of shares in the group. In March 2006, SembCorp sold its 60 per cent share in another unit, SembCorp Logistics, to Australia’s Toll Holdings for $749.2 million.