View ValuationSembcorp Industries 향후 성장Future 기준 점검 3/6Sembcorp Industries (는) 각각 연간 7.5% 및 19.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 9.2% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 18.9% 로 예상됩니다.핵심 정보7.5%이익 성장률9.19%EPS 성장률Integrated Utilities 이익 성장5.3%매출 성장률19.4%향후 자기자본이익률18.93%애널리스트 커버리지Good마지막 업데이트18 May 2026최근 향후 성장 업데이트Major Estimate Revision • Mar 04Consensus EPS estimates fall by 16%, revenue upgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from S$6.62b to S$6.97b. EPS estimate fell from S$0.587 to S$0.491 per share. Net income forecast to shrink 10% next year vs 3.4% growth forecast for Integrated Utilities industry in Singapore . Consensus price target down from S$7.10 to S$6.73. Share price fell 7.7% to S$5.72 over the past week.분석 기사 • Aug 11Sembcorp Industries Ltd Recorded A 13% Miss On Revenue: Analysts Are Revisiting Their ModelsIt's shaping up to be a tough period for Sembcorp Industries Ltd ( SGX:U96 ), which a week ago released some...공시 • Aug 23Sembcorp Industries Ltd Announces Resumption of Sembcorp Myingyan Independent Power Plant in Mandalay, MyanmarSembcorp Industries (Sembcorp) announces that it has resumed operations of Sembcorp Myingyan Independent Power Plant (the Plant) in Mandalay, Myanmar following the temporary suspension previously announced on August 12, 2024. The decision was made given that conflicts around the vicinity of the Plant have ceased such that the situation is now assessed to be safe for Sembcorp's personnel to return to the Plant. The date to resume operations has been aligned with the Electric Power Generation Enterprise. Sembcorp will continue to closely monitor the situation, with the safety of its personnel as its utmost priority. The temporary suspension has no material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.공시 • Aug 14Sembcorp Industries Announces Temporarily Suspension Operations of Sembcorp Myingyan Independent Power PlantSembcorp Industries (Sembcorp) has temporarily suspended operations of Sembcorp Myingyan Independent Power Plant (the Plant), a 225MW gas-fired power plant in Mandalay, Myanmar, in view of escalating civil unrest in Myanmar including in Myingyan township, Mandalay where the Plant is located. Sembcorp's priority is to ensure the safety of its employees. The Electric Power Generation Enterprise, a power department within the Ministry of Electricity and Energy of Myanmar, has been informed of the situation and has approved the shutdown. Security measures are in place to safeguard the Plant in the meantime and relevant stakeholders are being notified. Sembcorp will look to resume operations at the Plant as soon as reasonably practicable once conditions are safe. Insurance coverage on the Plant is currently maintained, particularly for cover in respect of property damage.Price Target Changed • Aug 07Price target increased by 14% to S$6.57Up from S$5.79, the current price target is an average from 11 analysts. New target price is 7.8% above last closing price of S$6.09. Stock is up 92% over the past year. The company is forecast to post earnings per share of S$0.51 for next year compared to S$0.40 last year.모든 업데이트 보기Recent updatesBoard Change • May 03High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Executive & Independent Director Steven Phan was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.Upcoming Dividend • Apr 29Upcoming dividend of S$0.16 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of Singaporean dividend payers (4.9%). Higher than average of industry peers (3.0%).내러티브 업데이트 • Apr 27U96: India Renewables Deals Will Support Balanced Returns Through 2026Analysts have nudged their price target on Sembcorp Industries higher to SGD 6.96 from SGD 6.88, citing updated assumptions that reflect a different balance between projected revenue growth, profit margins and future P/E expectations. What's in the News Sembcorp Industries is reported to be in discussions, alongside Hexa Climate Solutions, to acquire Enel Group's entire India renewable business, with an indicated equity value of around $100 million and enterprise value of around $300 million, covering 760 MW of operational wind and solar assets and a 2.5 GW development pipeline (Mint, via Key Developments).Reported Earnings • Apr 16Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: S$0.55 (down from S$0.57 in FY 2024). Revenue: S$5.80b (down 9.6% from FY 2024). Net income: S$984.0m (down 4.0% from FY 2024). Profit margin: 17% (up from 16% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth.내러티브 업데이트 • Apr 10U96: India Renewables M&A Pipeline Will Sustain Balanced Returns Into 2026Analysts have adjusted their SGD price target for Sembcorp Industries slightly, reflecting updated views on future profit margins and P/E expectations, while keeping other key assumptions broadly in line. What's in the News Sembcorp Industries and Hexa Climate Solutions are reported to be in talks to acquire Enel Group's entire India renewable business.공시 • Mar 28+ 1 more updateSembcorp Industries Ltd Announces Changes to Its BoardSembcorp Industries Ltd. announced the appointment of Mr. Steven Phan Swee Kim, his age is 68, as Non-Executive and Independent Director. The appointment date was March 27, 2026. After reviewing Mr. Phan's qualifications and experience, the Board accepted the recommendation of Nominating Committee and approved the appointment of Mr. Phan. Mr. Phan has more than 37 years of experience in the auditing and advisory fields, of which close to 10 years were spent overseas in London and Kuala Lumpur. He was formerly the Ernst & Young Area Managing Partner for the Asia Pacific region and was responsible for all its businesses in the region, including assurance, tax, transaction and advisory services. He was also a member of its Global Executive Board prior to his retirement in 2018. His work experience also includes business consulting and process improvement for multinationals, government and quasi-government organisations, and advising companies on initial public offerings on various exchanges. Mr. Phan was Ernst & Young's audit partner for Informatics Group in 2004. During the course of the audit, certain accounting irregularities were identified. Subsequently, two senior management personnel of Informatics Group were charged by the Commercial Affairs Department and prosecuted, during which Mr. Phan provided testimony as a prosecution witness. Following a review by the Public Accountants Oversight Committee of the Accounting and Corporate Regulatory Authority of Singapore (ACRA), Mr. Phan was neither reprimanded nor censured, and was instead issued a letter of advice on certain matters. His past directorships include Board Member, Singapore Accountancy Commission and Member, Council for Board Diversity. His present directorships include United Overseas Bank Limited, Jardine Cycle & Carriage Limited, and Advanced MedTech Holdings. He holds a Bachelor of Science in Managerial and Administrative Studies, University of Aston, United Kingdom, is a Chartered Accountant, Institute of Chartered Accountants of England and Wales, and a Fellow Member of the Institute of Singapore Chartered Accountants. He will succeed Mr. Yap Chee Keong, his age is 68, as chairman of the AC at the conclusion of the upcoming AGM on April 29, 2026. Mr. Yap will retire from Sembcorp's board at the conclusion of the upcoming AGM, after having served as a non-executive and independent director for more than nine years. He will also cease to be chairman of the AC and member of the risk committee after the AGM. Mr. Yap's deep financial expertise and acumen were instrumental in strengthening Sembcorp's governance and risk management frameworks during a period of strategic repositioning for the group.내러티브 업데이트 • Mar 26U96: India Renewables M&A Pipeline Will Support Balanced Returns Into 2026Analysts have raised their SGD fair value estimate for Sembcorp Industries from SGD 6.78 to SGD 6.88, citing updated assumptions that combine slightly higher modelled revenue growth with a modestly lower profit margin and a small uplift in the forward P/E multiple. What's in the News Sembcorp is reported to be in discussions, alongside Hexa Climate Solutions, to acquire Enel Group's India renewable business, with an indicated equity value of about $100 million and enterprise value of about $300 million, covering 760 MW of operational wind and solar assets and a 2.5 GW development pipeline (Key Developments).내러티브 업데이트 • Mar 12U96: India Renewable M&A Pipeline Will Support Returns Into 2026The latest Narrative Update on Sembcorp Industries reflects a lower analyst fair value estimate. The price target has moved from SGD 7.07 to SGD 6.78 as analysts balance higher modelled revenue growth with a more conservative profit margin outlook and a slightly reduced future P/E assumption.공시 • Mar 09Sembcorp, Hexa Climate Solutions Reportedly Vie for the India Renewables Business of Italy's Enel in $300-Million DealIPO-bound Singapore's Sembcorp Industries Ltd. (SGX:U96)'s Indian renewable energy business and Hexa Climate Solutions (Hexa Climate Solutions Private Limited) are vying to acquire the entire India renewable business of Italy's Enel Group (Enel SpA (BIT:ENEL)) in a deal having an equity and enterprise value of around $100 million and $300 million, respectively, according to two people aware of the development. Sembcorp is present in India throughSembcorp India Private Limited and Sembcorp Green Infra Ltd. (SGIL) along with other subsidiaries., while Hexa is backed by I Squared Capital. The HSBC-run sale process follows a deal signed last year-which later fell through-under which Waaree Energies Ltd. had agreed to buy 100% of Enel Green Power India Pvt Ltd. (EGP India) from its parent Enel Green Power Development S.R.L. for INR 7,920 million. Mint first reported on 15 November 2023 that Enel Group planned to exit its India renewable business. "Enel Group's entire India renewable business is back on offer again and Sembcorp and Hexa are in talks for it," one of the two people cited above said, requesting anonymity. Enel Green Power India's portfolio comprises 760 megawatts (MW) of operational wind and solar assets, and a development pipeline of 2.5 gigawatts (GW). The company has been present in India's renewable sector since 2015 and in 2020 it partnered with Norway's state-owned investment fund Norfund to jointly finance, build and operate new renewable projects in the country. Spokespersons for Enel Group and HSBC, as well as Hexa Climate Solutions' founder and executive chairman Sanjeev Aggarwal declined to comment. Queries emailed to Sembcorp Industries Ltd. on Thursday evening remained unanswered till press time.Major Estimate Revision • Mar 04Consensus EPS estimates fall by 16%, revenue upgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from S$6.62b to S$6.97b. EPS estimate fell from S$0.587 to S$0.491 per share. Net income forecast to shrink 10% next year vs 3.4% growth forecast for Integrated Utilities industry in Singapore . Consensus price target down from S$7.10 to S$6.73. Share price fell 7.7% to S$5.72 over the past week.Declared Dividend • Mar 01Final dividend of S$0.16 announcedShareholders will receive a dividend of S$0.16. Ex-date: 6th May 2026 Payment date: 15th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (248% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Feb 26Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: S$0.55 (down from S$0.57 in FY 2024). Revenue: S$5.80b (down 9.6% from FY 2024). Net income: S$984.0m (down 3.5% from FY 2024). Profit margin: 17% (up from 16% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.공시 • Feb 26Sembcorp Industries Ltd Appoints Dinesh Khanna as Alternate Director to Prof Uwe Krueger with Effect from February 25, 2026Sembcorp Industries Ltd. (Sembcorp) announced the appointment of Mr. Dinesh Khanna as alternate director to Prof Uwe Krueger with effect from February 25, 2026. Mr. Khanna is currently Joint Head, Portfolio Development Group at Temasek International. He partners closely with Temasek Portfolio Companies to drive long-term shareholder value and strengthen governance practices. Prior to joining Temasek International, Mr. Khanna spent over two decades at The Boston Consulting Group (BCG), where he was a managing director and senior partner. He held multiple senior leadership roles, including as global chair of the People Team, member of BCG's executive and operating committees and as head of BCG Singapore from 2014 to 2015. He also led the global advantage practice, the corporate development practice, as well as the corporate development and private equity practice for Asia. Mr. Khanna previously served on the Singapore Future Economy subcommittee and as a member of the World Economic Forum Global Agenda Growth Council. He also served on the board of Safe Horizon, the largest victim services non-profit organisation in the US, from 2019 to 2021. He currently serves on the boards of Singtel, Olam Group, Surbana Jurong, Gate Group and OFI Group. He holds a Bachelor of Technology from Indian Institute of Technology Delhi as an Institute Silver Medallist and a Master of Business Administration from Indian Institute of Management Bangalore, where he graduated as the Institute Gold Medallist.공시 • Feb 25Sembcorp Industries Ltd, Annual General Meeting, Apr 29, 2026Sembcorp Industries Ltd, Annual General Meeting, Apr 29, 2026.내러티브 업데이트 • Feb 25U96: India Renewables Acquisitions In 2026 Will Support Future ReturnsAnalysts have nudged their price target for Sembcorp Industries slightly lower from SGD7.10 to SGD7.07, citing updated assumptions for more moderate revenue growth, a small adjustment to profit margins, and a modestly higher future P/E multiple. What's in the News Sembcorp is reported to be among potential bidders, alongside global private equity firms and infrastructure investors, for a controlling stake in Welspun New Energy at a valuation around US$250 million, with EY advising on the sale and binding bids said to be expected soon (Key Developments).공시 • Feb 20Macquarie, Blackstone Reportedly Among Bidders for Welspun's Green ArmGlobal private equity majors and strategic infrastructure investors including Macquarie Group Limited (ASX:MQG), Actis (Actis LLP), Blackstone Inc. (NYSE:BX) and Sembcorp Industries Ltd. (SGX:U96) are preparing to bid for a controlling stake in Welspun Group's clean-energy arm, Welspun New Energy (Welspun New Energy Private Limited), at a valuation higher than was estimated just three months ago, people familiar with the development said. "The company is seeking around $250 million in value. With a lot of consolidation that has happened in the sector recently, the valuation expectations have inched up," one of the persons cited above said on the condition of anonymity. Binding bids are expected soon, a second person said. "Large PE firms and some strategics are likely to bid." Mint reported on 18 November of the company's plans to sell a controlling stake at a then lower valuation of $100 million. The company has appointed EY to help it look for buyers, Mint had reported. The proposed sale of a controlling stake in Welspun New Energy comes in the backdrop of a major cleanup of India's green energy contracts. Emailed queries to Actis, Blackstone, CVC, EY, Macquarie, Sembcorp and the Welspun Group did not elicit any response till press time.내러티브 업데이트 • Feb 11U96: India Renewables IPO And M&A Pipeline Will Support Future ReturnsAnalysts have slightly lowered their SGD price target for Sembcorp Industries to about SGD 7.10 from around SGD 7.13, citing updated assumptions for the discount rate, revenue growth and profit margins that result in a marginally reduced fair value estimate. What's in the News Sembcorp is reported to be among four shortlisted bidders, alongside Aditya Birla Group, NIIF and KKR, reviewing Sprng Energy as Shell evaluates options for the platform, with due diligence expected to run for 6 to 8 weeks (media reports).공시 • Jan 29GIP Reportedly Shortlists Four Entities for Its India Green Energy Biz SaleGlobal Infrastructure Partners (GIP) (Global Infrastructure Management, LLC), a BlackRock subsidiary, has shortlisted four potential buyers for Vena Energy India, its 1.1 GW renewable energy platform, said people familiar with the matter. Actis (Actis LLP), Sembcorp Industries Ltd. (SGX:U96), KKR & Co. Inc. (NYSE:KKR), and Edelweiss-owned Sekura Energy (SEPL Energy Private Limited) are currently conducting due diligence as part of the sale process, the people said. Torrent Power has also emerged as a potential bidder, although this couldn't be independently confirmed. The platform is expected to command an enterprise valuation of INR 45,000 million-INR 50,000 million ($500 million), the people said. Vena Energy India currently has 957 MW of operational renewable assets, with an additional 59 MW under construction. It is a subsidiary of Singapore-based Vena Energy, which has a global renewable energy development pipeline exceeding 39.2 GW. GIP owns a 76% stake in Vena Energy, with the rest 24% held jointly by China Investment Corporation (CIC) and Canada's Public Sector Pension Investment Board (PSP). BlackRock acquired 100% ownership of GIP in FY25. GIP has appointed Morgan Stanley and Japan's Mitsubishi UFJ Financial Group to advise on the sale of a controlling stake in Vena Energy globally, a deal that could value the company at up to $10 billion, Reuters reported in February last year. Vena Energy, KKR, Sembcorp, and Edelweiss didn't respond to email queries. Actis spokesperson declined to comment.Buy Or Sell Opportunity • Jan 28Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.9% to S$5.92. The fair value is estimated to be S$7.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 8.6% in 2 years. Earnings are forecast to grow by 9.7% in the next 2 years.내러티브 업데이트 • Jan 27U96: India Renewables IPO Plans Will Support Future ReturnsAnalysts have trimmed their price target for Sembcorp Industries slightly to S$7.13 from S$7.15, reflecting small adjustments to revenue growth, profit margin expectations and the forward P/E multiple in their updated models. What's in the News Sembcorp Industries has scheduled a Special or Extraordinary Shareholders Meeting for January 30, 2026, at 10:00 Singapore time at the Stamford Ballroom, Fairmont Hotel, Level 4, Raffles City Convention Centre, 80 Bras Basah Road, Singapore 189560 (company event notice).공시 • Jan 15Sembcorp Industries Ltd to Report Fiscal Year 2025 Results on Feb 25, 2026Sembcorp Industries Ltd announced that they will report fiscal year 2025 results Pre-Market on Feb 25, 2026내러티브 업데이트 • Jan 12U96: India Renewables IPO And Capacity Additions Will Support Future ReturnsNarrative Update on Sembcorp Industries The analyst price target for Sembcorp Industries remains unchanged at S$7.15. Analysts are maintaining their view because the underlying assumptions for discount rate, revenue growth, profit margin and future P/E are essentially consistent with prior estimates.내러티브 업데이트 • Dec 22U96: India Renewables IPO Will Drive Future Returns Despite Minor Assumption TrimAnalysts have slightly lowered their price target on Sembcorp Industries from S$7.43 to S$7.15, citing marginally softer assumptions on long term revenue growth, profit margins and future valuation multiples. What's in the News Sembcorp Industries is considering an IPO in Mumbai for its Indian renewables arm, Sembcorp Green Infra Limited, with Citi, HSBC and Axis Capital hired to advise on the deal (Reuters).Buy Or Sell Opportunity • Dec 19Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.8% to S$5.85. The fair value is estimated to be S$7.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 8.8% in 2 years. Earnings are forecast to grow by 11% in the next 2 years.분석 기사 • Dec 19A Look At The Fair Value Of Sembcorp Industries Ltd (SGX:U96)Key Insights Using the Dividend Discount Model, Sembcorp Industries fair value estimate is S$7.35 With S$5.88 share...내러티브 업데이트 • Dec 08U96: Alinta Energy Acquisition Will Drive Future Returns Despite Minor Assumption TrimAnalysts have trimmed their price target for Sembcorp Industries slightly, reflecting a modest recalibration of fair value to approximately S$7.43 from about S$7.46. This follows their incorporation of slightly softer long term revenue growth and profit margin assumptions, partially offset by a marginally higher projected future P/E multiple.내러티브 업데이트 • Nov 24U96: Acquisition Pursuit Of Alinta Energy Will Drive Shareholder ValueAnalysts have slightly lowered their fair value estimate for Sembcorp Industries from $7.59 to $7.46, citing adjustments in expected revenue growth and profit margins. What's in the News Sembcorp Industries is reportedly pursuing the acquisition of Alinta Energy, an Australian energy business owned by Chow Tai Fook, as part of its expansion in the renewable energy sector.Buy Or Sell Opportunity • Nov 21Now 20% undervaluedThe stock has been flat over the last 90 days, currently trading at S$6.08. The fair value is estimated to be S$7.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 14% in the next 2 years.분석 기사 • Nov 18Here's Why Sembcorp Industries (SGX:U96) Has A Meaningful Debt BurdenLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...분석 기사 • Nov 03With EPS Growth And More, Sembcorp Industries (SGX:U96) Makes An Interesting CaseThe excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...분석 기사 • Oct 19Sembcorp Industries Ltd's (SGX:U96) Share Price Is Matching Sentiment Around Its EarningsWith a price-to-earnings (or "P/E") ratio of 10.9x Sembcorp Industries Ltd ( SGX:U96 ) may be sending bullish signals...Buy Or Sell Opportunity • Oct 06Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to S$6.20. The fair value is estimated to be S$7.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 18% in the next 2 years.내러티브 업데이트 • Sep 04Renewables Expansion In India And ASEAN Will Shape Future EnergySembcorp Industries’ consensus valuation remains stable, as both future P/E and revenue growth forecasts showed negligible movement, resulting in an unchanged analyst price target of SGD7.59. What's in the News Sembcorp Industries initiates a share buyback program authorized to repurchase up to 35,577,792 shares (2% of issued share capital), using internal funds, with repurchased shares either cancelled or held in treasury.분석 기사 • Aug 19Concerns Surrounding Sembcorp Industries' (SGX:U96) PerformanceThe market shrugged off Sembcorp Industries Ltd's ( SGX:U96 ) solid earnings report. We think that investors might be...Valuation Update With 7 Day Price Move • Aug 14Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to S$6.27, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Integrated Utilities industry in Asia. Total returns to shareholders of 109% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at S$7.76 per share.분석 기사 • Aug 12Sembcorp Industries (SGX:U96) Is Due To Pay A Dividend Of SGD0.09Sembcorp Industries Ltd's ( SGX:U96 ) investors are due to receive a payment of SGD0.09 per share on 26th of August...분석 기사 • Aug 11Sembcorp Industries Ltd Recorded A 13% Miss On Revenue: Analysts Are Revisiting Their ModelsIt's shaping up to be a tough period for Sembcorp Industries Ltd ( SGX:U96 ), which a week ago released some...Declared Dividend • Aug 11First half dividend increased to S$0.09Dividend of S$0.09 is 50% higher than last year. Ex-date: 15th August 2025 Payment date: 26th August 2025 Dividend yield will be 3.9%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (426% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover.분석 기사 • Aug 10Sembcorp Industries (SGX:U96) Takes On Some Risk With Its Use Of DebtSGX:U96 1 Year Share Price vs Fair Value Explore Sembcorp Industries's Fair Values from the Community and select yours...Buy Or Sell Opportunity • Aug 09Now 22% undervaluedOver the last 90 days, the stock has risen 2.0% to S$6.72. The fair value is estimated to be S$8.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 22% in the next 2 years.공시 • Aug 08An undisclosed buyer acquired 26% stake in Green Infra Renewable Energy Projects Limited from Sembcorp Industries Ltd (SGX:U96) for approximately INR 150 million.An undisclosed buyer acquired 26% stake in Green Infra Renewable Energy Projects Limited from Sembcorp Industries Ltd (SGX:U96) for approximately INR 150 million on May 5, 2025. A cash consideration of INR 146.35 million will be paid by the buyer. As part of consideration, INR 146.35 million is paid towards common equity of Green Infra Renewable Energy Projects Limited. Post acquisition, Sembcorp Industries Ltd holds 74% stake in Green Infra Renewable Energy Projects Limited. An undisclosed buyer completed the acquisition of 26% stake in Green Infra Renewable Energy Projects Limited from Sembcorp Industries Ltd (SGX:U96) on May 5, 2025.분석 기사 • Jul 21Estimating The Fair Value Of Sembcorp Industries Ltd (SGX:U96)Key Insights Sembcorp Industries' estimated fair value is S$7.87 based on 2 Stage Free Cash Flow to Equity Current...공시 • Jul 07Sembcorp Industries Ltd to Report First Half, 2025 Results on Aug 08, 2025Sembcorp Industries Ltd announced that they will report first half, 2025 results on Aug 08, 2025분석 기사 • Jun 29Sembcorp Industries Ltd's (SGX:U96) Earnings Haven't Escaped The Attention Of InvestorsIt's not a stretch to say that Sembcorp Industries Ltd's ( SGX:U96 ) price-to-earnings (or "P/E") ratio of 11.9x right...Upcoming Dividend • Apr 23Upcoming dividend of S$0.17 per shareEligible shareholders must have bought the stock before 30 April 2025. Payment date: 13 May 2025. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Singaporean dividend payers (6.1%). Higher than average of industry peers (2.5%).Reported Earnings • Apr 02Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2024 results: EPS: S$0.57 (in line with FY 2023). Revenue: S$6.42b (down 8.9% from FY 2023). Net income: S$1.02b (flat on FY 2023). Profit margin: 16% (up from 14% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth.공시 • Mar 19SBT Investment 2 Pte. Ltd completed the acquisition of Sembcorp Environment Pte Ltd. from Sembcorp Industries Ltd (SGX:U96).SBT Investment 2 Pte. Ltd entered into a share purchase agreement to acquire Sembcorp Environment Pte Ltd. from Sembcorp Industries Ltd (SGX:U96) for approximately SGD 410 million on November 8, 2024. A cash consideration of SGD 405 million will be paid by SBT Investment 2 Pte. Ltd. TBS has agreed to retain management and staff of SembEnviro group following the completion of the transaction. Sembcorp will also provide transitional services to support a smooth handover and ensure continued provision of integrated waste management services by TBS. The transaction is subject to approval by regulatory board / committee and approval of offer by acquirer shareholders. The expected completion of the transaction is January 1, 2025 to June 30, 2025. SBT Investment 2 Pte. Ltd completed the acquisition of Sembcorp Environment Pte Ltd. from Sembcorp Industries Ltd (SGX:U96) on March 18, 2025.새로운 내러티브 • Mar 09Reaching 25 GW Renewables Capacity By 2028 Will Strengthen Future Position Strategic capacity expansion and renewables growth position Sembcorp Industries for revenue increases and stable earnings through power purchase agreements and new market projects.Declared Dividend • Mar 01Final dividend increased to S$0.17Dividend of S$0.17 is 113% higher than last year. Ex-date: 30th April 2025 Payment date: 13th May 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover.New Risk • Feb 28New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows.공시 • Feb 28An undisclosed buyer acquired 49% stake in ChongQing SongZao Sembcorp Electric Power from Sembcorp Industries Ltd (SGX:U96).An undisclosed buyer acquired 49% stake in ChongQing SongZao Sembcorp Electric Power from Sembcorp Industries Ltd (SGX:U96) on December 19, 2024. An undisclosed buyer completed the acquisition of 49% stake in ChongQing SongZao Sembcorp Electric Power from Sembcorp Industries Ltd (SGX:U96) on December 19, 2024.공시 • Feb 27Sembcorp Industries Ltd, Annual General Meeting, Apr 25, 2025Sembcorp Industries Ltd, Annual General Meeting, Apr 25, 2025.Reported Earnings • Feb 27Full year 2024 earnings released: EPS: S$0.57 (vs S$0.57 in FY 2023)Full year 2024 results: EPS: S$0.57 (in line with FY 2023). Revenue: S$6.42b (down 8.9% from FY 2023). Net income: S$1.02b (flat on FY 2023). Profit margin: 16% (up from 14% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.공시 • Jan 24Sembcorp Industries Ltd to Report Fiscal Year 2024 Results on Feb 27, 2025Sembcorp Industries Ltd announced that they will report fiscal year 2024 results on Feb 27, 2025공시 • Aug 23Sembcorp Industries Ltd Announces Resumption of Sembcorp Myingyan Independent Power Plant in Mandalay, MyanmarSembcorp Industries (Sembcorp) announces that it has resumed operations of Sembcorp Myingyan Independent Power Plant (the Plant) in Mandalay, Myanmar following the temporary suspension previously announced on August 12, 2024. The decision was made given that conflicts around the vicinity of the Plant have ceased such that the situation is now assessed to be safe for Sembcorp's personnel to return to the Plant. The date to resume operations has been aligned with the Electric Power Generation Enterprise. Sembcorp will continue to closely monitor the situation, with the safety of its personnel as its utmost priority. The temporary suspension has no material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.공시 • Aug 15JSW Neo, Sembcorp, ONGC Reportedly Shortlisted to Acquire NIIF Backed Ayana in $800 Million DealOil and Natural Gas Corporation Limited (NSEI:ONGC), JSW Group's JSW Neo Energy Limited, and Singapore's Sembcorp Industries Ltd. (SGX:U96) have been shortlisted to submit binding bids to buy a significant majority stake in Ayana Renewable Power Private Limited, two people aware of the development said, in what may rank among the biggest transactions in India's green energy sector. These firms were the ones to submit their non-binding offers (NBOs) for the deal with an equity value of around $800 million, and are presently conducting due diligence, the people cited above said on the condition of anonymity. The National Investment and Infrastructure Fund (NIIF) backed company, which has a 5-gigawatt (GW) portfolio of operational and under-construction projects, is looking to sell a significant majority stake, that may translate into up to 100% stake sale. The sale process is being run by Standard Chartered, with the last date for submitting final bids on 19 August. "The Ayana transaction is a big one for the Indian renewable energy space and is being tracked intently for its outcome," said one of the two people cited above. Mint earlier reported about ONGC entering the fray, and Standard Chartered being mandated to manage the sale of Ayana Renewable Power, with the shareholders also seeking to raise an additional $400 million to finance the company's growth. The Economic Times on 4 May reported about JSW Neo Energy, and Sekura Energy among five bidders that have made non-binding offers to acquire a controlling stake in Ayana Renewable Power; with Masdar, Sembcorp and Macquarie also in the fray. "Post the submission of the NBOs, ONGC, JSW and Sembcorp were shortlisted. They are conducting due diligence to submit their binding bids for which 19 August is the bid submission deadline," the second person said. Ayana Renewable Power is majority-owned by NIIF. Its other shareholders include the UK government's British International Investment and Eversource Capital. Ayana plans to build a 10GW portfolio by 2025 and has projects in Andhra Pradesh, Tamil Nadu, Karnataka, Rajasthan and Gujarat. Spokespersons for Standard Chartered, JSW Group and British International Investment plc declined comment. Spokespersons for NIIF, Ayana Renewable Power, Sembcorp, and Eversource Capital did not respond to queries emailed on late 12 August night. An ONGC spokesperson did not immediately respond to queries emailed on 13 August 2024.공시 • Aug 14Sembcorp Industries Announces Temporarily Suspension Operations of Sembcorp Myingyan Independent Power PlantSembcorp Industries (Sembcorp) has temporarily suspended operations of Sembcorp Myingyan Independent Power Plant (the Plant), a 225MW gas-fired power plant in Mandalay, Myanmar, in view of escalating civil unrest in Myanmar including in Myingyan township, Mandalay where the Plant is located. Sembcorp's priority is to ensure the safety of its employees. The Electric Power Generation Enterprise, a power department within the Ministry of Electricity and Energy of Myanmar, has been informed of the situation and has approved the shutdown. Security measures are in place to safeguard the Plant in the meantime and relevant stakeholders are being notified. Sembcorp will look to resume operations at the Plant as soon as reasonably practicable once conditions are safe. Insurance coverage on the Plant is currently maintained, particularly for cover in respect of property damage.Declared Dividend • Aug 08First half dividend of S$0.06 announcedShareholders will receive a dividend of S$0.06. Ex-date: 14th August 2024 Payment date: 22nd August 2024 Dividend yield will be 2.9%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 3.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover.Reported Earnings • Aug 07First half 2024 earnings released: EPS: S$0.30 (vs S$0.34 in 1H 2023)First half 2024 results: EPS: S$0.30 (down from S$0.34 in 1H 2023). Revenue: S$3.21b (down 12% from 1H 2023). Net income: S$540.0m (down 11% from 1H 2023). Profit margin: 17% (in line with 1H 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.공시 • Jul 06Sembcorp Industries Ltd to Report First Half, 2024 Results on Aug 06, 2024Sembcorp Industries Ltd announced that they will report first half, 2024 results on Aug 06, 2024공시 • Jun 10JSW, Torrent, Masdar Among Suitors for Enel's India AssetsAbout half a dozen investors, including Abu Dhabi Future Energy Company PJSC - Masdar of the UAE, Singapore's Sembcorp Industries Ltd. (SGX:U96), JSW Energy Limited (BSE:533148), Torrent Power Limited (NSEI:TORNTPOWER), Sekura Energy Limited and Oil and Natural Gas Corporation Limited (NSEI:ONGC), have submitted non-binding bids to acquire 760 MW of operational assets in India that have been put on the block by Italy's Enel Group, said people aware of the development. HSBC is advising Enel on the sale. The proposed deal may have an enterprise value of $500 million (INR 41.00 billion), the sources said. The portfolio of Enel Green Power India Private Limited comprises 760 megawatts (MW) of operational wind and solar power assets and a development pipeline of 2 gigawatts (GW). Of the operational capacity, solar power projects comprise 420 MW, with the balance 340 MW coming from wind power. Last year, Norwegian Climate Investment Fund, managed by Norfund, and KLP, Norway's largest pension company, had together committed $100 million of equity and guarantees for a 168 MW wind power plant developed by Enel Green Power in India. In 2020, Norfund and Enel Green Power (EGP) entered into a joint investment agreement for renewable energy projects in India. Their first project together, the 420 MW Thar solar plant, was announced in 2022. Enel Green Power, founded in 2008 within the Enel Group to develop and manage renewable power projects globally, operates over 63 GW of installed renewable capacity at 1,300 plants in Asia, Europe, Africa and America. EGP had strengthened its position in India through an acquisition of a majority stake in renewable energy company BLP Energy for INR 30 million (INR 2.20 billion) in 2015.Enel, ONGC, Masdar and Sekura Energy spokespersons declined to comment. JSW, Sembcorp and Torrent didn't respond to queries. Energy producers such as Sekura Energy, Sembcorp and Masdar Energy are already in the race for several Indian renewable assets that are on the block. These three were among the contenders for the 2 GW renewable portfolio of Brookfield in India that's up for sale at an estimated enterprise value of $800 million - 1 billion (INR 66.00 billion - INR 83.00 billion). JSW Neo Energy and Sekura Energy are among the bidders that have made non-binding offers to acquire a controlling stake in Ayana Renewable Power, majority owned by National Investment and Infrastructure Fund (NIIF), at a valuation of about $2 billion, ET had reported. ONGC is another contender for several assets in the clean energy space as part of decarbonising its operations. ONGC plans to have a renewable energy capacity of 10 GW by 2030 at an investment of INR 1 lakh crore. The outlook for the renewable energy (RE) sector remains stable, led by strong policy support from the government, superior tariff competitiveness and sustainability initiatives by large commercial and industrial (C&I) customers.공시 • Apr 23+ 1 more updateSembcorp Industries Ltd Appoints Kunnasagaran Chinniah as Chairman of the Risk CommitteeSembcorp Industries Ltd. announced the appointment of Mr. Kunnasagaran Chinniah, a Non-executive & Independent Director, as the Chairman of the Risk Committee with effect from April 23, 2024. In view of the above, the Board Committees of Sembcorp are constituted as follows: Tow Heng Tan chairman of Executive Committee and member of Executive Resource & Compensation Committee and Nominating Committee. Lim Ming Yan member of Executive Committee and chairman of Executive Resource & Compensation Committee and Nominating Committee. Yap Chee Keong chairman of Audit Committee and member of Risk Committee. Dr Josephine Kwa Lay Keng member of Audit Committee and Risk Committee. Nagi Hamiyeh member of Executive Committee. Kunnasagaran Chinniah member of Executive Committee and Executive Resource & Compensation Committee and chairman of Risk Committee. Marina Chin Li Yuen member of Audit Committee and Risk Committee. Ong Chao Choon member of Audit Committee, Risk Committee and Nominating Committee. Wong Kim Yin member of Executive Committee.Upcoming Dividend • Apr 22Upcoming dividend of S$0.08 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (2.5%).Reported Earnings • Apr 02Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: S$0.57 (up from S$0.40 in FY 2022). Revenue: S$7.04b (down 10.0% from FY 2022). Net income: S$1.02b (up 45% from FY 2022). Profit margin: 14% (up from 9.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Revenue is forecast to stay flat during the next 3 years compared to a 4.4% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.공시 • Mar 18Masdar, Gentari, Others Reportedly Eye Majority Stake in Ayana Renewable PowerAbout half a dozen investors, including Abu Dhabi Future Energy Company PJSC - Masdar, Petronas-owned Gentari, Singapore's Sembcorp Industries Ltd. (SGX:U96), Public Sector Pension Investment Board and Brookfield Corporation (TSX:BN), are vying to acquire Ayana Renewable Power Private Limited, a clean energy platform owned by the National Investment and Infrastructure Fund (NIIF), multiple people aware of the talks told ET.Declared Dividend • Feb 26Final dividend of S$0.08 announcedShareholders will receive a dividend of S$0.08. Ex-date: 29th April 2024 Payment date: 9th May 2024 Dividend yield will be 2.5%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 3.9% over the next 3 years. However, it would need to fall by 75% to increase the payout ratio to a potentially unsustainable range.공시 • Feb 23Sembcorp Industries Ltd, Annual General Meeting, Apr 23, 2024Sembcorp Industries Ltd, Annual General Meeting, Apr 23, 2024.Reported Earnings • Feb 20Full year 2023 earnings released: EPS: S$0.57 (vs S$0.40 in FY 2022)Full year 2023 results: EPS: S$0.57 (up from S$0.40 in FY 2022). Revenue: S$7.04b (down 10.0% from FY 2022). Net income: S$1.02b (up 45% from FY 2022). Profit margin: 14% (up from 9.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 4.3% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth.공시 • Jan 20Sembcorp Industries Ltd to Report Fiscal Year 2023 Results on Feb 20, 2024Sembcorp Industries Ltd announced that they will report fiscal year 2023 results Pre-Market on Feb 20, 2024공시 • Nov 01+ 2 more updatesSembcorp Industries Ltd Announces Executive Changes, Effect from November 1, 2023, November 3, 2023Sembcorp Industries Ltd. (Sembcorp) announced the appointment of two new independent directors to the Board, as well as the appointment of new members to the Board Committees. Ms Marina Chin Li Yuen and Mr. Ong Chao Choon will be appointed as non-executive and independent directors with effect from November 1, 2023 and November 3, 2023 respectively. Following the appointment of Ms Chin and Mr. Ong, the Board will comprise 10members, seven of whom are independent directors. Ms Chin, a Senior Counsel appointed by the Singapore Academy of Law, is the Joint Managing Partner of Tan Kok Quan Partnership where she joined as one of its Senior Partners in 2000. With over 30 years of legal experience, Ms Chin focuses on dispute resolution of civil and commercial matters, including those with cross-border angles across a broad spectrum of industry sectors in Asia.Ms Chin is currently an independent non-executive director and a member of the audit & risk committee of Jurong Port Pte Ltd, as well as a board member and audit committee member of Singapore Land Authority. She is also a member of the appeal advisory panel of the Monetary Authority of Singapore, Senate Member and Fellow of the Singapore Academy of Law, specialist mediator of the Singapore International Mediation Centre, and an accreditation committee member of the Singapore Institute of Legal Education. Ms Chin holds a Bachelor of Laws with honours from the National University of Singapore. She was awarded the Tan Ah Tah Book Prize after completing the postgraduate practical law course. Mr. Ong Chao Choon: Mr. Ong served at PwC for over 30 years, and has recently retired. He held various leadership positions during his tenure with PwC, including Deputy Chairman and Advisory Leader of PwC Singapore and Managing Partner of PwC Myanmar. He has accumulated a wealth of experience in M&A advisory over the last two decades, in addition to more than 10 years of auditing and business advisory experience. Mr. Ong is currently the chairman of the audit & risk committees of the Community Foundation of Singapore, the Lee Kuan Yew Fund for Bilingualism and the Singapore Food Agency. He was previously the chairman of the advisory board of Nanyang Business School Alumni, the audit committee chairman of the National Environmental Agency and the deputy chairman and audit committee chairman of RepublicPolytechnic. He was awarded the Public Service Medal in 2017. Mr. Ong holds a first-class honours in Accountancy from the National University ofSingapore and a Master of Business Administration in Banking and Finance from Nanyang Business School. He is a Fellow of both the Institute of Singapore Chartered Accountants and the Chartered Accountants Australia & New Zealand. The following Board Committees of Sembcorp will have new members with effect from November 3, 2023: Mr. Kunnasagaran Chinniah will be appointed as a member of the Executive Committee (ExCo), Risk Committee (BRC) and Executive Resource & Compensation Committee (ERCC). The Board considers Mr. Chinniah an independent member of the BRC and ERCC; Mr. Ong Chao Choon will be appointed as a member of the Audit Committee (AC), BRC and Nominating Committee (NC). The Board considers Mr. Ong an independent member of the AC, BRC and NC; and Ms Marina Chin Li Yuen will be appointed as a member of the AC and BRC. TheBoard considers Ms Chin an independent member of the AC and BRC.공시 • Aug 18ONGC, Four Others Reportedly Vie for Fortum ProjectsOil and Natural Gas Corporation Limited (NSEI:ONGC) is in the fray for Finnish state-run power utility Fortum Oyj (HLSE:FORTUM)’s Indian solar projects totaling 185 megawatts (MW), two people familiar with the matter said, adding that the deal may have an equity value of around $130 million. Others in the race include Malaysia's state-run oil and gas company, Petronas unit Gentari Sdn. Bhd., Singapore's Sembcorp Industries Ltd. (SGX:U96), Edelweiss Infrastructure Yield Plus Fund's Sekura Energy Limited, and private equity firm Actis LLP. The five bidders were shortlisted from 11 non-binding offers that were submitted, the people said on condition of anonymity. Kotak Investment Banking is managing the transaction, which is estimated at an enterprise value of around $200 million. The deal has seen significant interest since buyers of power from these projects having AA+ rating include state-run entities such as Solar Energy Corporation of India Limited, NTPC Limited (NSEI:NTPC) and NTPC Vidyut Vyapar Nigam Ltd. "The sale process has entered the second phase with shortlisted bidders doing due diligence," said one of the two people cited above. Sanjay Aggarwal, the president of Fortum India Pvt. Ltd, declined to comment. Spokespeople for Kotak Investment Banking, ONGC, Petronas, Gentari, Sembcorp, and Edelweiss did not respond to queries emailed on August 13, 2023 afternoon. An Actis spokesperson declined to comment. The stake sale is part of Fortum's strategy to take risks early on and eventually monetize projects to raise capital for new ventures.Price Target Changed • Aug 07Price target increased by 14% to S$6.57Up from S$5.79, the current price target is an average from 11 analysts. New target price is 7.8% above last closing price of S$6.09. Stock is up 92% over the past year. The company is forecast to post earnings per share of S$0.51 for next year compared to S$0.40 last year.New Risk • Aug 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risk High level of debt (135% net debt to equity).Reported Earnings • Aug 05First half 2023 earnings released: EPS: S$0.34 (vs S$0.28 in 1H 2022)First half 2023 results: EPS: S$0.34 (up from S$0.28 in 1H 2022). Revenue: S$3.66b (down 23% from 1H 2022). Net income: S$608.0m (up 24% from 1H 2022). Profit margin: 17% (up from 10% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.1% decline forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.공시 • Aug 05+ 2 more updatesSembcorp Industries Ltd (SGX:U96) acquired 35.11% stake in Aksay Kazakh Autonomous County Huidong New Energy Co., Ltd. for CNY 62.8 million.Sembcorp Industries Ltd (SGX:U96) acquired 35.11% stake in Aksay Kazakh Autonomous County Huidong New Energy Co., Ltd. for CNY 62.8 million on June 26, 2023. Sembcorp Industries Ltd (SGX:U96) Completed the acquisition of 35.11% stake in Aksay Kazakh Autonomous County Huidong New Energy Co., Ltd. on June 26, 2023.공시 • Jul 29Sembcorp Industries (Sembcorp) Announces Appointment of Kunnasagaran Chinniah as Non-Executive and Independent DirectorSembcorp Industries (Sembcorp) announced the appointment of Mr. Kunnasagaran Chinniah as non-executive and independent director with effect from August 1, 2023. Mr. Chinniah is a board member of Changi Airports International, CapitaLand Ascendas REIT Management, Azalea Asset Management and Greenko Energy Holdings. He is a member of the Hindu Endowments Board. Mr. Chinniah last served as the Head of GIC Global Infrastructure Group and Co-Head of Portfolio, Strategy and Risk Group at GIC Special Investments. He retired in 2013 after serving at GIC for more than 20 years, where he held various positions and was responsible for investments in North America, Europe and Asia. Mr. Chinniah is a Chartered Financial Analyst. He holds a Bachelor of Engineering (Electrical) from the National University of Singapore and a Master of Business Administration from the University of California Berkeley.이익 및 매출 성장 예측SGX:U96 - 애널리스트 향후 추정치 및 과거 재무 데이터 (SGD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/202810,4491,2063861,920712/31/20278,9341,1077621,4791312/31/20267,15392321,3291312/31/20255,7999842081,170N/A6/30/20256,1511,013961,567N/A3/31/20256,2841,017-501,490N/A12/31/20246,4171,025-1961,412N/A6/30/20246,5929552181,256N/A3/31/20246,8179884321,369N/A12/31/20237,0421,0206451,481N/A9/30/20237,3129728321,655N/A6/30/20237,5829231,0191,828N/A3/31/20237,7048141,0281,740N/A12/31/20227,8257041,0371,652N/A6/30/20227,0194739931,305N/A3/31/20226,7143029611,262N/A12/31/20216,4081309291,219N/A9/30/20216,958256680992N/A6/30/20216,120245430765N/A3/31/20215,784193294628N/A12/31/20205,447140158491N/A9/30/20203,46675-1481N/A6/30/20204,50137-204301N/A3/31/20205,564156-11748N/A12/31/20196,73526950977N/A9/30/20199,867332N/A1,207N/A6/30/201910,438341N/A1,587N/A3/31/201911,411322N/A880N/A12/31/201811,689304N/A739N/A9/30/201811,528313N/A1,118N/A6/30/201810,725323N/A887N/A3/31/20189,662299N/A724N/A12/31/20179,026340N/A651N/A9/30/20178,646372N/A-301N/A6/30/20178,568334N/A426N/A3/31/20178,133365N/A923N/A12/31/20167,907356N/A872N/A9/30/20168,300269N/A541N/A6/30/20168,560338N/A-199N/A3/31/20169,102479N/A-790N/A12/31/20159,545521N/A-704N/A9/30/20159,790708N/A-450N/A6/30/201510,460790N/A-962N/A더 보기애널리스트 향후 성장 전망수입 대 저축률: U96 의 연간 예상 수익 증가율(7.5%)이 saving rate(2.6%)보다 높습니다.수익 vs 시장: U96 의 연간 수익(7.5%)이 SG 시장(6%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: U96 의 수입은 증가할 것으로 예상되지만 상당히 증가하지는 않을 것입니다.수익 대 시장: U96 의 수익(연간 19.4%)이 SG 시장(연간 5.3%)보다 빠르게 성장할 것으로 예상됩니다.고성장 매출: U96 의 수익(연간 19.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: U96의 자본 수익률은 3년 후 18.9%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YUtilities 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/21 11:07종가2026/05/21 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Sembcorp Industries Ltd는 27명의 분석가가 다루고 있습니다. 이 중 13명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Yu Jie LoBofA Global ResearchSiew Khee LimCGS InternationalLuis HiladoCitigroup Inc24명의 분석가 더 보기
Major Estimate Revision • Mar 04Consensus EPS estimates fall by 16%, revenue upgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from S$6.62b to S$6.97b. EPS estimate fell from S$0.587 to S$0.491 per share. Net income forecast to shrink 10% next year vs 3.4% growth forecast for Integrated Utilities industry in Singapore . Consensus price target down from S$7.10 to S$6.73. Share price fell 7.7% to S$5.72 over the past week.
분석 기사 • Aug 11Sembcorp Industries Ltd Recorded A 13% Miss On Revenue: Analysts Are Revisiting Their ModelsIt's shaping up to be a tough period for Sembcorp Industries Ltd ( SGX:U96 ), which a week ago released some...
공시 • Aug 23Sembcorp Industries Ltd Announces Resumption of Sembcorp Myingyan Independent Power Plant in Mandalay, MyanmarSembcorp Industries (Sembcorp) announces that it has resumed operations of Sembcorp Myingyan Independent Power Plant (the Plant) in Mandalay, Myanmar following the temporary suspension previously announced on August 12, 2024. The decision was made given that conflicts around the vicinity of the Plant have ceased such that the situation is now assessed to be safe for Sembcorp's personnel to return to the Plant. The date to resume operations has been aligned with the Electric Power Generation Enterprise. Sembcorp will continue to closely monitor the situation, with the safety of its personnel as its utmost priority. The temporary suspension has no material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.
공시 • Aug 14Sembcorp Industries Announces Temporarily Suspension Operations of Sembcorp Myingyan Independent Power PlantSembcorp Industries (Sembcorp) has temporarily suspended operations of Sembcorp Myingyan Independent Power Plant (the Plant), a 225MW gas-fired power plant in Mandalay, Myanmar, in view of escalating civil unrest in Myanmar including in Myingyan township, Mandalay where the Plant is located. Sembcorp's priority is to ensure the safety of its employees. The Electric Power Generation Enterprise, a power department within the Ministry of Electricity and Energy of Myanmar, has been informed of the situation and has approved the shutdown. Security measures are in place to safeguard the Plant in the meantime and relevant stakeholders are being notified. Sembcorp will look to resume operations at the Plant as soon as reasonably practicable once conditions are safe. Insurance coverage on the Plant is currently maintained, particularly for cover in respect of property damage.
Price Target Changed • Aug 07Price target increased by 14% to S$6.57Up from S$5.79, the current price target is an average from 11 analysts. New target price is 7.8% above last closing price of S$6.09. Stock is up 92% over the past year. The company is forecast to post earnings per share of S$0.51 for next year compared to S$0.40 last year.
Board Change • May 03High number of new directorsThere are 5 new directors who have joined the board in the last 3 years. Non-Executive & Independent Director Steven Phan was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model.
Upcoming Dividend • Apr 29Upcoming dividend of S$0.16 per shareEligible shareholders must have bought the stock before 06 May 2026. Payment date: 15 May 2026. Payout ratio is a comfortable 45% but the company is paying out more than the cash it is generating. Trailing yield: 3.8%. Lower than top quartile of Singaporean dividend payers (4.9%). Higher than average of industry peers (3.0%).
내러티브 업데이트 • Apr 27U96: India Renewables Deals Will Support Balanced Returns Through 2026Analysts have nudged their price target on Sembcorp Industries higher to SGD 6.96 from SGD 6.88, citing updated assumptions that reflect a different balance between projected revenue growth, profit margins and future P/E expectations. What's in the News Sembcorp Industries is reported to be in discussions, alongside Hexa Climate Solutions, to acquire Enel Group's entire India renewable business, with an indicated equity value of around $100 million and enterprise value of around $300 million, covering 760 MW of operational wind and solar assets and a 2.5 GW development pipeline (Mint, via Key Developments).
Reported Earnings • Apr 16Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: S$0.55 (down from S$0.57 in FY 2024). Revenue: S$5.80b (down 9.6% from FY 2024). Net income: S$984.0m (down 4.0% from FY 2024). Profit margin: 17% (up from 16% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 2.9%. Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 18% per year, which means it is tracking significantly ahead of earnings growth.
내러티브 업데이트 • Apr 10U96: India Renewables M&A Pipeline Will Sustain Balanced Returns Into 2026Analysts have adjusted their SGD price target for Sembcorp Industries slightly, reflecting updated views on future profit margins and P/E expectations, while keeping other key assumptions broadly in line. What's in the News Sembcorp Industries and Hexa Climate Solutions are reported to be in talks to acquire Enel Group's entire India renewable business.
공시 • Mar 28+ 1 more updateSembcorp Industries Ltd Announces Changes to Its BoardSembcorp Industries Ltd. announced the appointment of Mr. Steven Phan Swee Kim, his age is 68, as Non-Executive and Independent Director. The appointment date was March 27, 2026. After reviewing Mr. Phan's qualifications and experience, the Board accepted the recommendation of Nominating Committee and approved the appointment of Mr. Phan. Mr. Phan has more than 37 years of experience in the auditing and advisory fields, of which close to 10 years were spent overseas in London and Kuala Lumpur. He was formerly the Ernst & Young Area Managing Partner for the Asia Pacific region and was responsible for all its businesses in the region, including assurance, tax, transaction and advisory services. He was also a member of its Global Executive Board prior to his retirement in 2018. His work experience also includes business consulting and process improvement for multinationals, government and quasi-government organisations, and advising companies on initial public offerings on various exchanges. Mr. Phan was Ernst & Young's audit partner for Informatics Group in 2004. During the course of the audit, certain accounting irregularities were identified. Subsequently, two senior management personnel of Informatics Group were charged by the Commercial Affairs Department and prosecuted, during which Mr. Phan provided testimony as a prosecution witness. Following a review by the Public Accountants Oversight Committee of the Accounting and Corporate Regulatory Authority of Singapore (ACRA), Mr. Phan was neither reprimanded nor censured, and was instead issued a letter of advice on certain matters. His past directorships include Board Member, Singapore Accountancy Commission and Member, Council for Board Diversity. His present directorships include United Overseas Bank Limited, Jardine Cycle & Carriage Limited, and Advanced MedTech Holdings. He holds a Bachelor of Science in Managerial and Administrative Studies, University of Aston, United Kingdom, is a Chartered Accountant, Institute of Chartered Accountants of England and Wales, and a Fellow Member of the Institute of Singapore Chartered Accountants. He will succeed Mr. Yap Chee Keong, his age is 68, as chairman of the AC at the conclusion of the upcoming AGM on April 29, 2026. Mr. Yap will retire from Sembcorp's board at the conclusion of the upcoming AGM, after having served as a non-executive and independent director for more than nine years. He will also cease to be chairman of the AC and member of the risk committee after the AGM. Mr. Yap's deep financial expertise and acumen were instrumental in strengthening Sembcorp's governance and risk management frameworks during a period of strategic repositioning for the group.
내러티브 업데이트 • Mar 26U96: India Renewables M&A Pipeline Will Support Balanced Returns Into 2026Analysts have raised their SGD fair value estimate for Sembcorp Industries from SGD 6.78 to SGD 6.88, citing updated assumptions that combine slightly higher modelled revenue growth with a modestly lower profit margin and a small uplift in the forward P/E multiple. What's in the News Sembcorp is reported to be in discussions, alongside Hexa Climate Solutions, to acquire Enel Group's India renewable business, with an indicated equity value of about $100 million and enterprise value of about $300 million, covering 760 MW of operational wind and solar assets and a 2.5 GW development pipeline (Key Developments).
내러티브 업데이트 • Mar 12U96: India Renewable M&A Pipeline Will Support Returns Into 2026The latest Narrative Update on Sembcorp Industries reflects a lower analyst fair value estimate. The price target has moved from SGD 7.07 to SGD 6.78 as analysts balance higher modelled revenue growth with a more conservative profit margin outlook and a slightly reduced future P/E assumption.
공시 • Mar 09Sembcorp, Hexa Climate Solutions Reportedly Vie for the India Renewables Business of Italy's Enel in $300-Million DealIPO-bound Singapore's Sembcorp Industries Ltd. (SGX:U96)'s Indian renewable energy business and Hexa Climate Solutions (Hexa Climate Solutions Private Limited) are vying to acquire the entire India renewable business of Italy's Enel Group (Enel SpA (BIT:ENEL)) in a deal having an equity and enterprise value of around $100 million and $300 million, respectively, according to two people aware of the development. Sembcorp is present in India throughSembcorp India Private Limited and Sembcorp Green Infra Ltd. (SGIL) along with other subsidiaries., while Hexa is backed by I Squared Capital. The HSBC-run sale process follows a deal signed last year-which later fell through-under which Waaree Energies Ltd. had agreed to buy 100% of Enel Green Power India Pvt Ltd. (EGP India) from its parent Enel Green Power Development S.R.L. for INR 7,920 million. Mint first reported on 15 November 2023 that Enel Group planned to exit its India renewable business. "Enel Group's entire India renewable business is back on offer again and Sembcorp and Hexa are in talks for it," one of the two people cited above said, requesting anonymity. Enel Green Power India's portfolio comprises 760 megawatts (MW) of operational wind and solar assets, and a development pipeline of 2.5 gigawatts (GW). The company has been present in India's renewable sector since 2015 and in 2020 it partnered with Norway's state-owned investment fund Norfund to jointly finance, build and operate new renewable projects in the country. Spokespersons for Enel Group and HSBC, as well as Hexa Climate Solutions' founder and executive chairman Sanjeev Aggarwal declined to comment. Queries emailed to Sembcorp Industries Ltd. on Thursday evening remained unanswered till press time.
Major Estimate Revision • Mar 04Consensus EPS estimates fall by 16%, revenue upgradedThe consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from S$6.62b to S$6.97b. EPS estimate fell from S$0.587 to S$0.491 per share. Net income forecast to shrink 10% next year vs 3.4% growth forecast for Integrated Utilities industry in Singapore . Consensus price target down from S$7.10 to S$6.73. Share price fell 7.7% to S$5.72 over the past week.
Declared Dividend • Mar 01Final dividend of S$0.16 announcedShareholders will receive a dividend of S$0.16. Ex-date: 6th May 2026 Payment date: 15th May 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (45% earnings payout ratio) but not covered by cash flows (248% cash payout ratio). The dividend has increased by an average of 1.3% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 29% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Feb 26Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: S$0.55 (down from S$0.57 in FY 2024). Revenue: S$5.80b (down 9.6% from FY 2024). Net income: S$984.0m (down 3.5% from FY 2024). Profit margin: 17% (up from 16% in FY 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 2.1%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth.
공시 • Feb 26Sembcorp Industries Ltd Appoints Dinesh Khanna as Alternate Director to Prof Uwe Krueger with Effect from February 25, 2026Sembcorp Industries Ltd. (Sembcorp) announced the appointment of Mr. Dinesh Khanna as alternate director to Prof Uwe Krueger with effect from February 25, 2026. Mr. Khanna is currently Joint Head, Portfolio Development Group at Temasek International. He partners closely with Temasek Portfolio Companies to drive long-term shareholder value and strengthen governance practices. Prior to joining Temasek International, Mr. Khanna spent over two decades at The Boston Consulting Group (BCG), where he was a managing director and senior partner. He held multiple senior leadership roles, including as global chair of the People Team, member of BCG's executive and operating committees and as head of BCG Singapore from 2014 to 2015. He also led the global advantage practice, the corporate development practice, as well as the corporate development and private equity practice for Asia. Mr. Khanna previously served on the Singapore Future Economy subcommittee and as a member of the World Economic Forum Global Agenda Growth Council. He also served on the board of Safe Horizon, the largest victim services non-profit organisation in the US, from 2019 to 2021. He currently serves on the boards of Singtel, Olam Group, Surbana Jurong, Gate Group and OFI Group. He holds a Bachelor of Technology from Indian Institute of Technology Delhi as an Institute Silver Medallist and a Master of Business Administration from Indian Institute of Management Bangalore, where he graduated as the Institute Gold Medallist.
공시 • Feb 25Sembcorp Industries Ltd, Annual General Meeting, Apr 29, 2026Sembcorp Industries Ltd, Annual General Meeting, Apr 29, 2026.
내러티브 업데이트 • Feb 25U96: India Renewables Acquisitions In 2026 Will Support Future ReturnsAnalysts have nudged their price target for Sembcorp Industries slightly lower from SGD7.10 to SGD7.07, citing updated assumptions for more moderate revenue growth, a small adjustment to profit margins, and a modestly higher future P/E multiple. What's in the News Sembcorp is reported to be among potential bidders, alongside global private equity firms and infrastructure investors, for a controlling stake in Welspun New Energy at a valuation around US$250 million, with EY advising on the sale and binding bids said to be expected soon (Key Developments).
공시 • Feb 20Macquarie, Blackstone Reportedly Among Bidders for Welspun's Green ArmGlobal private equity majors and strategic infrastructure investors including Macquarie Group Limited (ASX:MQG), Actis (Actis LLP), Blackstone Inc. (NYSE:BX) and Sembcorp Industries Ltd. (SGX:U96) are preparing to bid for a controlling stake in Welspun Group's clean-energy arm, Welspun New Energy (Welspun New Energy Private Limited), at a valuation higher than was estimated just three months ago, people familiar with the development said. "The company is seeking around $250 million in value. With a lot of consolidation that has happened in the sector recently, the valuation expectations have inched up," one of the persons cited above said on the condition of anonymity. Binding bids are expected soon, a second person said. "Large PE firms and some strategics are likely to bid." Mint reported on 18 November of the company's plans to sell a controlling stake at a then lower valuation of $100 million. The company has appointed EY to help it look for buyers, Mint had reported. The proposed sale of a controlling stake in Welspun New Energy comes in the backdrop of a major cleanup of India's green energy contracts. Emailed queries to Actis, Blackstone, CVC, EY, Macquarie, Sembcorp and the Welspun Group did not elicit any response till press time.
내러티브 업데이트 • Feb 11U96: India Renewables IPO And M&A Pipeline Will Support Future ReturnsAnalysts have slightly lowered their SGD price target for Sembcorp Industries to about SGD 7.10 from around SGD 7.13, citing updated assumptions for the discount rate, revenue growth and profit margins that result in a marginally reduced fair value estimate. What's in the News Sembcorp is reported to be among four shortlisted bidders, alongside Aditya Birla Group, NIIF and KKR, reviewing Sprng Energy as Shell evaluates options for the platform, with due diligence expected to run for 6 to 8 weeks (media reports).
공시 • Jan 29GIP Reportedly Shortlists Four Entities for Its India Green Energy Biz SaleGlobal Infrastructure Partners (GIP) (Global Infrastructure Management, LLC), a BlackRock subsidiary, has shortlisted four potential buyers for Vena Energy India, its 1.1 GW renewable energy platform, said people familiar with the matter. Actis (Actis LLP), Sembcorp Industries Ltd. (SGX:U96), KKR & Co. Inc. (NYSE:KKR), and Edelweiss-owned Sekura Energy (SEPL Energy Private Limited) are currently conducting due diligence as part of the sale process, the people said. Torrent Power has also emerged as a potential bidder, although this couldn't be independently confirmed. The platform is expected to command an enterprise valuation of INR 45,000 million-INR 50,000 million ($500 million), the people said. Vena Energy India currently has 957 MW of operational renewable assets, with an additional 59 MW under construction. It is a subsidiary of Singapore-based Vena Energy, which has a global renewable energy development pipeline exceeding 39.2 GW. GIP owns a 76% stake in Vena Energy, with the rest 24% held jointly by China Investment Corporation (CIC) and Canada's Public Sector Pension Investment Board (PSP). BlackRock acquired 100% ownership of GIP in FY25. GIP has appointed Morgan Stanley and Japan's Mitsubishi UFJ Financial Group to advise on the sale of a controlling stake in Vena Energy globally, a deal that could value the company at up to $10 billion, Reuters reported in February last year. Vena Energy, KKR, Sembcorp, and Edelweiss didn't respond to email queries. Actis spokesperson declined to comment.
Buy Or Sell Opportunity • Jan 28Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 8.9% to S$5.92. The fair value is estimated to be S$7.41, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 8.6% in 2 years. Earnings are forecast to grow by 9.7% in the next 2 years.
내러티브 업데이트 • Jan 27U96: India Renewables IPO Plans Will Support Future ReturnsAnalysts have trimmed their price target for Sembcorp Industries slightly to S$7.13 from S$7.15, reflecting small adjustments to revenue growth, profit margin expectations and the forward P/E multiple in their updated models. What's in the News Sembcorp Industries has scheduled a Special or Extraordinary Shareholders Meeting for January 30, 2026, at 10:00 Singapore time at the Stamford Ballroom, Fairmont Hotel, Level 4, Raffles City Convention Centre, 80 Bras Basah Road, Singapore 189560 (company event notice).
공시 • Jan 15Sembcorp Industries Ltd to Report Fiscal Year 2025 Results on Feb 25, 2026Sembcorp Industries Ltd announced that they will report fiscal year 2025 results Pre-Market on Feb 25, 2026
내러티브 업데이트 • Jan 12U96: India Renewables IPO And Capacity Additions Will Support Future ReturnsNarrative Update on Sembcorp Industries The analyst price target for Sembcorp Industries remains unchanged at S$7.15. Analysts are maintaining their view because the underlying assumptions for discount rate, revenue growth, profit margin and future P/E are essentially consistent with prior estimates.
내러티브 업데이트 • Dec 22U96: India Renewables IPO Will Drive Future Returns Despite Minor Assumption TrimAnalysts have slightly lowered their price target on Sembcorp Industries from S$7.43 to S$7.15, citing marginally softer assumptions on long term revenue growth, profit margins and future valuation multiples. What's in the News Sembcorp Industries is considering an IPO in Mumbai for its Indian renewables arm, Sembcorp Green Infra Limited, with Citi, HSBC and Axis Capital hired to advise on the deal (Reuters).
Buy Or Sell Opportunity • Dec 19Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 3.8% to S$5.85. The fair value is estimated to be S$7.35, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 8.8% in 2 years. Earnings are forecast to grow by 11% in the next 2 years.
분석 기사 • Dec 19A Look At The Fair Value Of Sembcorp Industries Ltd (SGX:U96)Key Insights Using the Dividend Discount Model, Sembcorp Industries fair value estimate is S$7.35 With S$5.88 share...
내러티브 업데이트 • Dec 08U96: Alinta Energy Acquisition Will Drive Future Returns Despite Minor Assumption TrimAnalysts have trimmed their price target for Sembcorp Industries slightly, reflecting a modest recalibration of fair value to approximately S$7.43 from about S$7.46. This follows their incorporation of slightly softer long term revenue growth and profit margin assumptions, partially offset by a marginally higher projected future P/E multiple.
내러티브 업데이트 • Nov 24U96: Acquisition Pursuit Of Alinta Energy Will Drive Shareholder ValueAnalysts have slightly lowered their fair value estimate for Sembcorp Industries from $7.59 to $7.46, citing adjustments in expected revenue growth and profit margins. What's in the News Sembcorp Industries is reportedly pursuing the acquisition of Alinta Energy, an Australian energy business owned by Chow Tai Fook, as part of its expansion in the renewable energy sector.
Buy Or Sell Opportunity • Nov 21Now 20% undervaluedThe stock has been flat over the last 90 days, currently trading at S$6.08. The fair value is estimated to be S$7.62, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 9.2% in 2 years. Earnings are forecast to grow by 14% in the next 2 years.
분석 기사 • Nov 18Here's Why Sembcorp Industries (SGX:U96) Has A Meaningful Debt BurdenLegendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
분석 기사 • Nov 03With EPS Growth And More, Sembcorp Industries (SGX:U96) Makes An Interesting CaseThe excitement of investing in a company that can reverse its fortunes is a big draw for some speculators, so even...
분석 기사 • Oct 19Sembcorp Industries Ltd's (SGX:U96) Share Price Is Matching Sentiment Around Its EarningsWith a price-to-earnings (or "P/E") ratio of 10.9x Sembcorp Industries Ltd ( SGX:U96 ) may be sending bullish signals...
Buy Or Sell Opportunity • Oct 06Now 20% undervalued after recent price dropOver the last 90 days, the stock has fallen 17% to S$6.20. The fair value is estimated to be S$7.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 7.4% over the last 3 years. Earnings per share has grown by 16%. Revenue is forecast to grow by 10% in 2 years. Earnings are forecast to grow by 18% in the next 2 years.
내러티브 업데이트 • Sep 04Renewables Expansion In India And ASEAN Will Shape Future EnergySembcorp Industries’ consensus valuation remains stable, as both future P/E and revenue growth forecasts showed negligible movement, resulting in an unchanged analyst price target of SGD7.59. What's in the News Sembcorp Industries initiates a share buyback program authorized to repurchase up to 35,577,792 shares (2% of issued share capital), using internal funds, with repurchased shares either cancelled or held in treasury.
분석 기사 • Aug 19Concerns Surrounding Sembcorp Industries' (SGX:U96) PerformanceThe market shrugged off Sembcorp Industries Ltd's ( SGX:U96 ) solid earnings report. We think that investors might be...
Valuation Update With 7 Day Price Move • Aug 14Investor sentiment deteriorates as stock falls 20%After last week's 20% share price decline to S$6.27, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 14x in the Integrated Utilities industry in Asia. Total returns to shareholders of 109% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at S$7.76 per share.
분석 기사 • Aug 12Sembcorp Industries (SGX:U96) Is Due To Pay A Dividend Of SGD0.09Sembcorp Industries Ltd's ( SGX:U96 ) investors are due to receive a payment of SGD0.09 per share on 26th of August...
분석 기사 • Aug 11Sembcorp Industries Ltd Recorded A 13% Miss On Revenue: Analysts Are Revisiting Their ModelsIt's shaping up to be a tough period for Sembcorp Industries Ltd ( SGX:U96 ), which a week ago released some...
Declared Dividend • Aug 11First half dividend increased to S$0.09Dividend of S$0.09 is 50% higher than last year. Ex-date: 15th August 2025 Payment date: 26th August 2025 Dividend yield will be 3.9%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (46% earnings payout ratio) but not covered by cash flows (426% cash payout ratio). The dividend has increased by an average of 8.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 21% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
분석 기사 • Aug 10Sembcorp Industries (SGX:U96) Takes On Some Risk With Its Use Of DebtSGX:U96 1 Year Share Price vs Fair Value Explore Sembcorp Industries's Fair Values from the Community and select yours...
Buy Or Sell Opportunity • Aug 09Now 22% undervaluedOver the last 90 days, the stock has risen 2.0% to S$6.72. The fair value is estimated to be S$8.60, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue is forecast to grow by 14% in 2 years. Earnings are forecast to grow by 22% in the next 2 years.
공시 • Aug 08An undisclosed buyer acquired 26% stake in Green Infra Renewable Energy Projects Limited from Sembcorp Industries Ltd (SGX:U96) for approximately INR 150 million.An undisclosed buyer acquired 26% stake in Green Infra Renewable Energy Projects Limited from Sembcorp Industries Ltd (SGX:U96) for approximately INR 150 million on May 5, 2025. A cash consideration of INR 146.35 million will be paid by the buyer. As part of consideration, INR 146.35 million is paid towards common equity of Green Infra Renewable Energy Projects Limited. Post acquisition, Sembcorp Industries Ltd holds 74% stake in Green Infra Renewable Energy Projects Limited. An undisclosed buyer completed the acquisition of 26% stake in Green Infra Renewable Energy Projects Limited from Sembcorp Industries Ltd (SGX:U96) on May 5, 2025.
분석 기사 • Jul 21Estimating The Fair Value Of Sembcorp Industries Ltd (SGX:U96)Key Insights Sembcorp Industries' estimated fair value is S$7.87 based on 2 Stage Free Cash Flow to Equity Current...
공시 • Jul 07Sembcorp Industries Ltd to Report First Half, 2025 Results on Aug 08, 2025Sembcorp Industries Ltd announced that they will report first half, 2025 results on Aug 08, 2025
분석 기사 • Jun 29Sembcorp Industries Ltd's (SGX:U96) Earnings Haven't Escaped The Attention Of InvestorsIt's not a stretch to say that Sembcorp Industries Ltd's ( SGX:U96 ) price-to-earnings (or "P/E") ratio of 11.9x right...
Upcoming Dividend • Apr 23Upcoming dividend of S$0.17 per shareEligible shareholders must have bought the stock before 30 April 2025. Payment date: 13 May 2025. Payout ratio is a comfortable 40% but the company is not cash flow positive. Trailing yield: 3.6%. Lower than top quartile of Singaporean dividend payers (6.1%). Higher than average of industry peers (2.5%).
Reported Earnings • Apr 02Full year 2024 earnings: EPS exceeds analyst expectations while revenues lag behindFull year 2024 results: EPS: S$0.57 (in line with FY 2023). Revenue: S$6.42b (down 8.9% from FY 2023). Net income: S$1.02b (flat on FY 2023). Profit margin: 16% (up from 14% in FY 2023). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates by 3.3%. Revenue is forecast to grow 4.0% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth.
공시 • Mar 19SBT Investment 2 Pte. Ltd completed the acquisition of Sembcorp Environment Pte Ltd. from Sembcorp Industries Ltd (SGX:U96).SBT Investment 2 Pte. Ltd entered into a share purchase agreement to acquire Sembcorp Environment Pte Ltd. from Sembcorp Industries Ltd (SGX:U96) for approximately SGD 410 million on November 8, 2024. A cash consideration of SGD 405 million will be paid by SBT Investment 2 Pte. Ltd. TBS has agreed to retain management and staff of SembEnviro group following the completion of the transaction. Sembcorp will also provide transitional services to support a smooth handover and ensure continued provision of integrated waste management services by TBS. The transaction is subject to approval by regulatory board / committee and approval of offer by acquirer shareholders. The expected completion of the transaction is January 1, 2025 to June 30, 2025. SBT Investment 2 Pte. Ltd completed the acquisition of Sembcorp Environment Pte Ltd. from Sembcorp Industries Ltd (SGX:U96) on March 18, 2025.
새로운 내러티브 • Mar 09Reaching 25 GW Renewables Capacity By 2028 Will Strengthen Future Position Strategic capacity expansion and renewables growth position Sembcorp Industries for revenue increases and stable earnings through power purchase agreements and new market projects.
Declared Dividend • Mar 01Final dividend increased to S$0.17Dividend of S$0.17 is 113% higher than last year. Ex-date: 30th April 2025 Payment date: 13th May 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (40% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 8.7% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
New Risk • Feb 28New minor risk - Dividend sustainabilityThe dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 3.8% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows.
공시 • Feb 28An undisclosed buyer acquired 49% stake in ChongQing SongZao Sembcorp Electric Power from Sembcorp Industries Ltd (SGX:U96).An undisclosed buyer acquired 49% stake in ChongQing SongZao Sembcorp Electric Power from Sembcorp Industries Ltd (SGX:U96) on December 19, 2024. An undisclosed buyer completed the acquisition of 49% stake in ChongQing SongZao Sembcorp Electric Power from Sembcorp Industries Ltd (SGX:U96) on December 19, 2024.
공시 • Feb 27Sembcorp Industries Ltd, Annual General Meeting, Apr 25, 2025Sembcorp Industries Ltd, Annual General Meeting, Apr 25, 2025.
Reported Earnings • Feb 27Full year 2024 earnings released: EPS: S$0.57 (vs S$0.57 in FY 2023)Full year 2024 results: EPS: S$0.57 (in line with FY 2023). Revenue: S$6.42b (down 8.9% from FY 2023). Net income: S$1.02b (flat on FY 2023). Profit margin: 16% (up from 14% in FY 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 30% per year, which means it is significantly lagging earnings growth.
공시 • Jan 24Sembcorp Industries Ltd to Report Fiscal Year 2024 Results on Feb 27, 2025Sembcorp Industries Ltd announced that they will report fiscal year 2024 results on Feb 27, 2025
공시 • Aug 23Sembcorp Industries Ltd Announces Resumption of Sembcorp Myingyan Independent Power Plant in Mandalay, MyanmarSembcorp Industries (Sembcorp) announces that it has resumed operations of Sembcorp Myingyan Independent Power Plant (the Plant) in Mandalay, Myanmar following the temporary suspension previously announced on August 12, 2024. The decision was made given that conflicts around the vicinity of the Plant have ceased such that the situation is now assessed to be safe for Sembcorp's personnel to return to the Plant. The date to resume operations has been aligned with the Electric Power Generation Enterprise. Sembcorp will continue to closely monitor the situation, with the safety of its personnel as its utmost priority. The temporary suspension has no material impact on the earnings per share and net tangible assets per share of Sembcorp for the financial year ending December 31, 2024.
공시 • Aug 15JSW Neo, Sembcorp, ONGC Reportedly Shortlisted to Acquire NIIF Backed Ayana in $800 Million DealOil and Natural Gas Corporation Limited (NSEI:ONGC), JSW Group's JSW Neo Energy Limited, and Singapore's Sembcorp Industries Ltd. (SGX:U96) have been shortlisted to submit binding bids to buy a significant majority stake in Ayana Renewable Power Private Limited, two people aware of the development said, in what may rank among the biggest transactions in India's green energy sector. These firms were the ones to submit their non-binding offers (NBOs) for the deal with an equity value of around $800 million, and are presently conducting due diligence, the people cited above said on the condition of anonymity. The National Investment and Infrastructure Fund (NIIF) backed company, which has a 5-gigawatt (GW) portfolio of operational and under-construction projects, is looking to sell a significant majority stake, that may translate into up to 100% stake sale. The sale process is being run by Standard Chartered, with the last date for submitting final bids on 19 August. "The Ayana transaction is a big one for the Indian renewable energy space and is being tracked intently for its outcome," said one of the two people cited above. Mint earlier reported about ONGC entering the fray, and Standard Chartered being mandated to manage the sale of Ayana Renewable Power, with the shareholders also seeking to raise an additional $400 million to finance the company's growth. The Economic Times on 4 May reported about JSW Neo Energy, and Sekura Energy among five bidders that have made non-binding offers to acquire a controlling stake in Ayana Renewable Power; with Masdar, Sembcorp and Macquarie also in the fray. "Post the submission of the NBOs, ONGC, JSW and Sembcorp were shortlisted. They are conducting due diligence to submit their binding bids for which 19 August is the bid submission deadline," the second person said. Ayana Renewable Power is majority-owned by NIIF. Its other shareholders include the UK government's British International Investment and Eversource Capital. Ayana plans to build a 10GW portfolio by 2025 and has projects in Andhra Pradesh, Tamil Nadu, Karnataka, Rajasthan and Gujarat. Spokespersons for Standard Chartered, JSW Group and British International Investment plc declined comment. Spokespersons for NIIF, Ayana Renewable Power, Sembcorp, and Eversource Capital did not respond to queries emailed on late 12 August night. An ONGC spokesperson did not immediately respond to queries emailed on 13 August 2024.
공시 • Aug 14Sembcorp Industries Announces Temporarily Suspension Operations of Sembcorp Myingyan Independent Power PlantSembcorp Industries (Sembcorp) has temporarily suspended operations of Sembcorp Myingyan Independent Power Plant (the Plant), a 225MW gas-fired power plant in Mandalay, Myanmar, in view of escalating civil unrest in Myanmar including in Myingyan township, Mandalay where the Plant is located. Sembcorp's priority is to ensure the safety of its employees. The Electric Power Generation Enterprise, a power department within the Ministry of Electricity and Energy of Myanmar, has been informed of the situation and has approved the shutdown. Security measures are in place to safeguard the Plant in the meantime and relevant stakeholders are being notified. Sembcorp will look to resume operations at the Plant as soon as reasonably practicable once conditions are safe. Insurance coverage on the Plant is currently maintained, particularly for cover in respect of property damage.
Declared Dividend • Aug 08First half dividend of S$0.06 announcedShareholders will receive a dividend of S$0.06. Ex-date: 14th August 2024 Payment date: 22nd August 2024 Dividend yield will be 2.9%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (26% earnings payout ratio) but not adequately covered by cash flows (98% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 3.6% over the next 3 years, which should provide support to the dividend and adequate earnings cover.
Reported Earnings • Aug 07First half 2024 earnings released: EPS: S$0.30 (vs S$0.34 in 1H 2023)First half 2024 results: EPS: S$0.30 (down from S$0.34 in 1H 2023). Revenue: S$3.21b (down 12% from 1H 2023). Net income: S$540.0m (down 11% from 1H 2023). Profit margin: 17% (in line with 1H 2023). Revenue is forecast to grow 3.1% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 50% per year but the company’s share price has only increased by 33% per year, which means it is significantly lagging earnings growth.
공시 • Jul 06Sembcorp Industries Ltd to Report First Half, 2024 Results on Aug 06, 2024Sembcorp Industries Ltd announced that they will report first half, 2024 results on Aug 06, 2024
공시 • Jun 10JSW, Torrent, Masdar Among Suitors for Enel's India AssetsAbout half a dozen investors, including Abu Dhabi Future Energy Company PJSC - Masdar of the UAE, Singapore's Sembcorp Industries Ltd. (SGX:U96), JSW Energy Limited (BSE:533148), Torrent Power Limited (NSEI:TORNTPOWER), Sekura Energy Limited and Oil and Natural Gas Corporation Limited (NSEI:ONGC), have submitted non-binding bids to acquire 760 MW of operational assets in India that have been put on the block by Italy's Enel Group, said people aware of the development. HSBC is advising Enel on the sale. The proposed deal may have an enterprise value of $500 million (INR 41.00 billion), the sources said. The portfolio of Enel Green Power India Private Limited comprises 760 megawatts (MW) of operational wind and solar power assets and a development pipeline of 2 gigawatts (GW). Of the operational capacity, solar power projects comprise 420 MW, with the balance 340 MW coming from wind power. Last year, Norwegian Climate Investment Fund, managed by Norfund, and KLP, Norway's largest pension company, had together committed $100 million of equity and guarantees for a 168 MW wind power plant developed by Enel Green Power in India. In 2020, Norfund and Enel Green Power (EGP) entered into a joint investment agreement for renewable energy projects in India. Their first project together, the 420 MW Thar solar plant, was announced in 2022. Enel Green Power, founded in 2008 within the Enel Group to develop and manage renewable power projects globally, operates over 63 GW of installed renewable capacity at 1,300 plants in Asia, Europe, Africa and America. EGP had strengthened its position in India through an acquisition of a majority stake in renewable energy company BLP Energy for INR 30 million (INR 2.20 billion) in 2015.Enel, ONGC, Masdar and Sekura Energy spokespersons declined to comment. JSW, Sembcorp and Torrent didn't respond to queries. Energy producers such as Sekura Energy, Sembcorp and Masdar Energy are already in the race for several Indian renewable assets that are on the block. These three were among the contenders for the 2 GW renewable portfolio of Brookfield in India that's up for sale at an estimated enterprise value of $800 million - 1 billion (INR 66.00 billion - INR 83.00 billion). JSW Neo Energy and Sekura Energy are among the bidders that have made non-binding offers to acquire a controlling stake in Ayana Renewable Power, majority owned by National Investment and Infrastructure Fund (NIIF), at a valuation of about $2 billion, ET had reported. ONGC is another contender for several assets in the clean energy space as part of decarbonising its operations. ONGC plans to have a renewable energy capacity of 10 GW by 2030 at an investment of INR 1 lakh crore. The outlook for the renewable energy (RE) sector remains stable, led by strong policy support from the government, superior tariff competitiveness and sustainability initiatives by large commercial and industrial (C&I) customers.
공시 • Apr 23+ 1 more updateSembcorp Industries Ltd Appoints Kunnasagaran Chinniah as Chairman of the Risk CommitteeSembcorp Industries Ltd. announced the appointment of Mr. Kunnasagaran Chinniah, a Non-executive & Independent Director, as the Chairman of the Risk Committee with effect from April 23, 2024. In view of the above, the Board Committees of Sembcorp are constituted as follows: Tow Heng Tan chairman of Executive Committee and member of Executive Resource & Compensation Committee and Nominating Committee. Lim Ming Yan member of Executive Committee and chairman of Executive Resource & Compensation Committee and Nominating Committee. Yap Chee Keong chairman of Audit Committee and member of Risk Committee. Dr Josephine Kwa Lay Keng member of Audit Committee and Risk Committee. Nagi Hamiyeh member of Executive Committee. Kunnasagaran Chinniah member of Executive Committee and Executive Resource & Compensation Committee and chairman of Risk Committee. Marina Chin Li Yuen member of Audit Committee and Risk Committee. Ong Chao Choon member of Audit Committee, Risk Committee and Nominating Committee. Wong Kim Yin member of Executive Committee.
Upcoming Dividend • Apr 22Upcoming dividend of S$0.08 per shareEligible shareholders must have bought the stock before 29 April 2024. Payment date: 09 May 2024. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of Singaporean dividend payers (6.3%). Higher than average of industry peers (2.5%).
Reported Earnings • Apr 02Full year 2023 earnings: EPS and revenues miss analyst expectationsFull year 2023 results: EPS: S$0.57 (up from S$0.40 in FY 2022). Revenue: S$7.04b (down 10.0% from FY 2022). Net income: S$1.02b (up 45% from FY 2022). Profit margin: 14% (up from 9.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) also missed analyst estimates by 2.2%. Revenue is forecast to stay flat during the next 3 years compared to a 4.4% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 64% per year but the company’s share price has only increased by 40% per year, which means it is significantly lagging earnings growth.
공시 • Mar 18Masdar, Gentari, Others Reportedly Eye Majority Stake in Ayana Renewable PowerAbout half a dozen investors, including Abu Dhabi Future Energy Company PJSC - Masdar, Petronas-owned Gentari, Singapore's Sembcorp Industries Ltd. (SGX:U96), Public Sector Pension Investment Board and Brookfield Corporation (TSX:BN), are vying to acquire Ayana Renewable Power Private Limited, a clean energy platform owned by the National Investment and Infrastructure Fund (NIIF), multiple people aware of the talks told ET.
Declared Dividend • Feb 26Final dividend of S$0.08 announcedShareholders will receive a dividend of S$0.08. Ex-date: 29th April 2024 Payment date: 9th May 2024 Dividend yield will be 2.5%, which is lower than the industry average of 4.5%. Sustainability & Growth Dividend is well covered by both earnings (23% earnings payout ratio) and cash flows (44% cash payout ratio). The dividend has increased over the past 10 years. However, payments have been volatile during that time. EPS is expected to decline by 3.9% over the next 3 years. However, it would need to fall by 75% to increase the payout ratio to a potentially unsustainable range.
공시 • Feb 23Sembcorp Industries Ltd, Annual General Meeting, Apr 23, 2024Sembcorp Industries Ltd, Annual General Meeting, Apr 23, 2024.
Reported Earnings • Feb 20Full year 2023 earnings released: EPS: S$0.57 (vs S$0.40 in FY 2022)Full year 2023 results: EPS: S$0.57 (up from S$0.40 in FY 2022). Revenue: S$7.04b (down 10.0% from FY 2022). Net income: S$1.02b (up 45% from FY 2022). Profit margin: 14% (up from 9.0% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 2 years compared to a 4.3% growth forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 52% per year, which means it is significantly lagging earnings growth.
공시 • Jan 20Sembcorp Industries Ltd to Report Fiscal Year 2023 Results on Feb 20, 2024Sembcorp Industries Ltd announced that they will report fiscal year 2023 results Pre-Market on Feb 20, 2024
공시 • Nov 01+ 2 more updatesSembcorp Industries Ltd Announces Executive Changes, Effect from November 1, 2023, November 3, 2023Sembcorp Industries Ltd. (Sembcorp) announced the appointment of two new independent directors to the Board, as well as the appointment of new members to the Board Committees. Ms Marina Chin Li Yuen and Mr. Ong Chao Choon will be appointed as non-executive and independent directors with effect from November 1, 2023 and November 3, 2023 respectively. Following the appointment of Ms Chin and Mr. Ong, the Board will comprise 10members, seven of whom are independent directors. Ms Chin, a Senior Counsel appointed by the Singapore Academy of Law, is the Joint Managing Partner of Tan Kok Quan Partnership where she joined as one of its Senior Partners in 2000. With over 30 years of legal experience, Ms Chin focuses on dispute resolution of civil and commercial matters, including those with cross-border angles across a broad spectrum of industry sectors in Asia.Ms Chin is currently an independent non-executive director and a member of the audit & risk committee of Jurong Port Pte Ltd, as well as a board member and audit committee member of Singapore Land Authority. She is also a member of the appeal advisory panel of the Monetary Authority of Singapore, Senate Member and Fellow of the Singapore Academy of Law, specialist mediator of the Singapore International Mediation Centre, and an accreditation committee member of the Singapore Institute of Legal Education. Ms Chin holds a Bachelor of Laws with honours from the National University of Singapore. She was awarded the Tan Ah Tah Book Prize after completing the postgraduate practical law course. Mr. Ong Chao Choon: Mr. Ong served at PwC for over 30 years, and has recently retired. He held various leadership positions during his tenure with PwC, including Deputy Chairman and Advisory Leader of PwC Singapore and Managing Partner of PwC Myanmar. He has accumulated a wealth of experience in M&A advisory over the last two decades, in addition to more than 10 years of auditing and business advisory experience. Mr. Ong is currently the chairman of the audit & risk committees of the Community Foundation of Singapore, the Lee Kuan Yew Fund for Bilingualism and the Singapore Food Agency. He was previously the chairman of the advisory board of Nanyang Business School Alumni, the audit committee chairman of the National Environmental Agency and the deputy chairman and audit committee chairman of RepublicPolytechnic. He was awarded the Public Service Medal in 2017. Mr. Ong holds a first-class honours in Accountancy from the National University ofSingapore and a Master of Business Administration in Banking and Finance from Nanyang Business School. He is a Fellow of both the Institute of Singapore Chartered Accountants and the Chartered Accountants Australia & New Zealand. The following Board Committees of Sembcorp will have new members with effect from November 3, 2023: Mr. Kunnasagaran Chinniah will be appointed as a member of the Executive Committee (ExCo), Risk Committee (BRC) and Executive Resource & Compensation Committee (ERCC). The Board considers Mr. Chinniah an independent member of the BRC and ERCC; Mr. Ong Chao Choon will be appointed as a member of the Audit Committee (AC), BRC and Nominating Committee (NC). The Board considers Mr. Ong an independent member of the AC, BRC and NC; and Ms Marina Chin Li Yuen will be appointed as a member of the AC and BRC. TheBoard considers Ms Chin an independent member of the AC and BRC.
공시 • Aug 18ONGC, Four Others Reportedly Vie for Fortum ProjectsOil and Natural Gas Corporation Limited (NSEI:ONGC) is in the fray for Finnish state-run power utility Fortum Oyj (HLSE:FORTUM)’s Indian solar projects totaling 185 megawatts (MW), two people familiar with the matter said, adding that the deal may have an equity value of around $130 million. Others in the race include Malaysia's state-run oil and gas company, Petronas unit Gentari Sdn. Bhd., Singapore's Sembcorp Industries Ltd. (SGX:U96), Edelweiss Infrastructure Yield Plus Fund's Sekura Energy Limited, and private equity firm Actis LLP. The five bidders were shortlisted from 11 non-binding offers that were submitted, the people said on condition of anonymity. Kotak Investment Banking is managing the transaction, which is estimated at an enterprise value of around $200 million. The deal has seen significant interest since buyers of power from these projects having AA+ rating include state-run entities such as Solar Energy Corporation of India Limited, NTPC Limited (NSEI:NTPC) and NTPC Vidyut Vyapar Nigam Ltd. "The sale process has entered the second phase with shortlisted bidders doing due diligence," said one of the two people cited above. Sanjay Aggarwal, the president of Fortum India Pvt. Ltd, declined to comment. Spokespeople for Kotak Investment Banking, ONGC, Petronas, Gentari, Sembcorp, and Edelweiss did not respond to queries emailed on August 13, 2023 afternoon. An Actis spokesperson declined to comment. The stake sale is part of Fortum's strategy to take risks early on and eventually monetize projects to raise capital for new ventures.
Price Target Changed • Aug 07Price target increased by 14% to S$6.57Up from S$5.79, the current price target is an average from 11 analysts. New target price is 7.8% above last closing price of S$6.09. Stock is up 92% over the past year. The company is forecast to post earnings per share of S$0.51 for next year compared to S$0.40 last year.
New Risk • Aug 06New major risk - Revenue and earnings growthEarnings are forecast to decline by an average of 8.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 8.5% per year for the foreseeable future. Minor Risk High level of debt (135% net debt to equity).
Reported Earnings • Aug 05First half 2023 earnings released: EPS: S$0.34 (vs S$0.28 in 1H 2022)First half 2023 results: EPS: S$0.34 (up from S$0.28 in 1H 2022). Revenue: S$3.66b (down 23% from 1H 2022). Net income: S$608.0m (up 24% from 1H 2022). Profit margin: 17% (up from 10% in 1H 2022). The increase in margin was driven by lower expenses. Revenue is forecast to stay flat during the next 3 years compared to a 1.1% decline forecast for the Integrated Utilities industry in Asia. Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has only increased by 43% per year, which means it is significantly lagging earnings growth.
공시 • Aug 05+ 2 more updatesSembcorp Industries Ltd (SGX:U96) acquired 35.11% stake in Aksay Kazakh Autonomous County Huidong New Energy Co., Ltd. for CNY 62.8 million.Sembcorp Industries Ltd (SGX:U96) acquired 35.11% stake in Aksay Kazakh Autonomous County Huidong New Energy Co., Ltd. for CNY 62.8 million on June 26, 2023. Sembcorp Industries Ltd (SGX:U96) Completed the acquisition of 35.11% stake in Aksay Kazakh Autonomous County Huidong New Energy Co., Ltd. on June 26, 2023.
공시 • Jul 29Sembcorp Industries (Sembcorp) Announces Appointment of Kunnasagaran Chinniah as Non-Executive and Independent DirectorSembcorp Industries (Sembcorp) announced the appointment of Mr. Kunnasagaran Chinniah as non-executive and independent director with effect from August 1, 2023. Mr. Chinniah is a board member of Changi Airports International, CapitaLand Ascendas REIT Management, Azalea Asset Management and Greenko Energy Holdings. He is a member of the Hindu Endowments Board. Mr. Chinniah last served as the Head of GIC Global Infrastructure Group and Co-Head of Portfolio, Strategy and Risk Group at GIC Special Investments. He retired in 2013 after serving at GIC for more than 20 years, where he held various positions and was responsible for investments in North America, Europe and Asia. Mr. Chinniah is a Chartered Financial Analyst. He holds a Bachelor of Engineering (Electrical) from the National University of Singapore and a Master of Business Administration from the University of California Berkeley.
