Sembcorp, BNP Reach Settlement Agreement

Sembcorp Marine wishes to announce that its subsidiary, Jurong Shipyard, has reached agreement with BNP Paribas for a full and final amicable settlement of their claim of US$50.7 million, strictly on commercial basis.

Arising from the settlement, a charge of approximately US$30 million will be taken in the fourth quarter of 2008.

 

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