Sime Darby Expands into Transportation and Installation (T&I) Services in the Oil & Gas Sector

Press Release

KUALA LUMPUR, 11 February 2008 – Sime Darby Energy sees stronger earnings growth in its oil and gas sector with the recent signing of a joint-venture with two partners.

The joint venture company, Sime Darby T&I Sdn Bhd which is formed between subsidiary Sime Darby Engineering Sdn Bhd, ROIC Sdn Bhd and MDL Energy Pvt Ltd, provides transportation and installation (T&I) services to oil & gas companies.

Sime Darby Bhd President & Group Chief Executive Dato’ Seri Ahmad Zubir Murshid said T&I services made up between 40 per cent and 50 per cent of total contract value for integrated EPCIC services.

He said the joint-venture would add value to its portfolio as there is potential for earnings growth through the provision of integrated Engineering, Procurement, Construction, Installation and Commissioning (EPCIC) services.

Dato’ Seri Ahmad Zubir said the joint-venture would tap ROIC’s strength as a project management and engineering consultancy service provider and its skilled workforce which is well-versed with managing offshore oil & gas construction activities.

He said MDL, as a wholly-owned subsidiary of MOKUL International Limited, will provide exclusive access to its 1,600 MT crane barge.