The Business Times

Companies & Markets

The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

Sembcorp Industries sells stake in Omani utilities developer for 984,740 Omani rial

Published Mon, Mar 5, 2018 · 11:36 AM
Share this article.

A SUBSIDIARY of Sembcorp Industries has agreed to sell its stake in Omani utilities developer Centralised Utilities Company to Oman Oil's Facilities Development Company for 984,740 Omani rial (S$3.38 million).

With the sale, Sembcorp Utilities (Oman) will also end its joint venture with Takamul Investment Company.

Legal completion of the sale and transfer is expected to take place within 30 days, Sembcorp said in a filing with the Singapore Exchange after the market closed on Monday.

Centralised Utilities is an Omani entity set up as the utilities developer for the Duqm Special Economic Zone.

Sembcorp shares finished S$0.10 or 3.2 per cent lower at S$3.02 on Monday.

KEYWORDS IN THIS ARTICLE

Oman

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

newspaper iconPurchase this articleshopping cart icon

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here