Sembcorp Marine Reports on PetroRig 1's Legal Proceedings

Further to the announcement made yesterday, the application by PetroRig 1 before the bankruptcy court in New York has been adjourned till Friday as the opponents / associated third parties made a commercial proposal which will result in Jurong Shipyard Pte Ltd ("JSPL") being paid in full.

JSPL is considering the proposal and its implications.

In the meantime, JSPL will continue to receive bids pending finalisation of any commercial settlement or the outcome of the hearing on Friday. No temporary restraining order was made.

Sembcorp Marine will make further announcement where necessary.