Sinoma haven t suffered from bad effects of Dubai World

September 29, Sinoma Vice President Su Kui said that as the world s largest provider of cement equipment and engineering services and a leading producer of non-metal materials, Sinoma s business haven t suffered from the bad effects caused by Dubai World s request to postpone payment on some of its $60 billion in debt.

Mr. Su Kui said that there is no direct business cooperation between Sinoma and Dubai World, and at present, there is no cement equipment and engineering services project and other business under construction in Dubai. The Dubai World debt crisis will not cause any bad effects on Sinoma.

Mr. Su Kui also said that thanks to the global economic recovery, Sinoma has shown a surge in new contracts in its cement equipment and engineering services business in 2H 2009. As to October 2009, the total value of new contracts has amounted to RMB 20 billion Yuan and the value of contracts carried forward has reached RMB 53 billion Yuan. It is anticipated that the total value of new contracts for the year 2009 will amount to RMB 25 billion Yuan, which means that it can return to pre-crisis levels. Sinoma has full confidence in its future.