Singapore Technologies Industrial Corp News

Diversified SembCorp Industries Ltd., fresh from sales of key non-core assets, is hunting for foreign partners in its bid to become a global contender in its core businesses, President Wong Kok Siew said. Already Asia's largest shipyard operator, SembCorp is confident about meeting its internal target of not less than 20 percent growth in net profit per annum and has set its sights beyond Asia. "With the major divestments of non-core over, our game plan is simple -- to grow the group as we move forward," Wong, who is also the group's chief executive, said. The year-old entity of government-owned Singapore Technologies Industrial Corp and Sembawang Corp has made estimated proceeds of $340.5 million from its non-core asset sales so far this year.