Singapore Technologies Industrial Corporation (STIC) and Sembawang Corporation announced on 1 June 1998 their intention to merge and form SembCorp Industries Ltd. It was reported that the merger would create the largest civil engineering and building construction company in Southeast Asia. SembCorp Industries aimed to be a leader in four main areas of business: infrastructure, marine engineering, information technology and lifestyle.
The merger had taken nine months to conceptualise prior to the announcement. By 5 October 1998, STIC and Sembawang Corporation had merged the functions of their headquarters and operated as one company. With the merger, SembCorp Industries also became one of Asia’s leading industrial park developers and managers, overseeing a number of industrial parks located in Indonesia, China and Vietnam.
1. Chan, W. C. (1998, June 2). STIC and Sembawang to merge. The Straits Times, p. 1. Retrieved from NewspaperSG.
2. The Straits Times, 2 Jun, 1998, p. 1.
3. SempCorp: Anatomy of a merger. (1999, August 15). The Straits Times, p. 33. Retrieved from NewspaperSG.
4. SembCorp Industries. (1998). SembCorp Industries annual report (p. 20). Singapore: SembCorp Industries. Call no.: RSING q338.7621381 SIAR-[AR].
5. SembCorp Industries, 1998, p. 32.
The information in this article is valid as at 2013 and correct as far as we are able to ascertain from our sources. It is not intended to be an exhaustive or complete history of the subject. Please contact the Library for further reading materials on the topic.