SINGAPORE (Nov 3): CIMB says Sembcorp’s quarterly setback has little to do with Sembcorp’s Marine business whose strategic review remains up in the air but with its Utilities segment.
In 3Q17, operations in India reported a loss of $2.7 million vs CIMB’s expected $11 million profit.
“Our previous forecast was premised on stronger seasonal wind capacity in Sembcorp Green Infra (SGI), stable plant load factor (PLF) in Thermal Powertech Corporation India Limited (TPCIL) as well as lower interest costs in Sembcorp Gayatri Power (SGLP),”says analyst Lim Siew Khee.
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