Sembcorp suspends operations in Myanmar power plant on escalating civil unrest

SEMBCORP Industries said it has temporarily suspended operations in one of its power plants in Myanmar, in view of escalating civil unrest in the country.

“Sembcorp’s priority is to ensure the safety of its employees,” the company said in a bourse filing on Monday (Aug 12).

The plant, Sembcorp Myingyan Independent Power Plant, is located in the Myingyan township in the city of Mandalay.

The Electric Power Generation Enterprise, a power department within the Ministry of Electricity and Energy of Myanmar, was told of the situation and has approved the shutdown, Sembcorp said.

In the meantime, security measures are in place to safeguard the plant, and its insurance coverage is in force. The relevant stakeholders are also being notified.

The company will look to resume operations as soon as reasonably practicable, and once conditions are safe, it said.

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Shares of Sembcorp fell 2.5 per cent or S$0.12 to S$4.63 on Monday, before the announcement.