Sembcorp Industries

Competition watchdog to assess if Sembcorp-Veolia deal could result in 'substantial lessening of competition'

SINGAPORE (Jan 16): The Competition and Consumer Commission of Singapore (CCCS) is inviting public feedback on the proposed acquisition of Veolia ES Singapore (VESS) by Sembcorp Industries’ wholly owned subsidiary SembWaste. 

On Jan 3, SembWaste had announced that it was acquiring a 100% stake in VESS and its public cleaning business for $28 million. 

Market observers shun oil and services sectors, but some locally listed names could shine

SINGAPORE (Dec 20): Saudi Arabian Oil Co (Saudi Aramco), the kingdom’s national oil corporation (NOC) and world’s biggest oil producer, had a positive debut on the Tadawul exchange. Its shares have gone up 19% from its IPO price of SAR32, closing at SAR38 on Dec 16 and giving the company the US$2 trillion ($723.1 billion) valuation that Saudi Arabia was aiming for. However, the same optimism could not be seen in the broader and related sectors.


Sembcorp, EMA jointly award grant to NTU to develop Singapore's first virtual power plant

SINGAPORE (Oct 8): Sembcorp Industries and the Energy Market Authority (EMA) have jointly awarded a grant to Nanyang Technological University (NTU) to develop Singapore’s first virtual power plant (VPP).

The VPP acts like a “single utility-scale power station” and coordinates electricity produced from distributed energy resources (DERs) at end users’ premises.

DERs, which include solar and energy storage systems, currently complement traditional power plants which generate electricity centrally.

SembMarine’s weak 2Q results lead to analyst downgrades; company stays tight-lipped on police raid at Brazilian unit

(Aug 5): Disappointing results, slow order momentum and a weak outlook by the management are among reasons why investors should stay on the sidelines or consider getting out of Sembcorp Marine. Another factor is the potential blowback from a Brazilian bribery investigation that could further pummel shares of the offshore and marine services provider.

CapitaLand partners Sembcorp to install solar farms atop 6 properties in Singapore

SINGAPORE (July 9): CapitaLand will partner with Sembcorp Industries to install about 21,240 rooftop solar panels atop six CapitaLand properties by the end of this year, forming the largest combined rooftop solar facility in Singapore by a real estate company.

The solar farms aim to collectively generate over 10,000 megawatt hours of energy annually. This much energy is equivalent to powering about 2,300 four-room HDB flats a year.

Sembcorp partners Experia Events to build solar energy system for Changi exhibition centre

SINGAPORE (June 18): Sembcorp Industries has signed a long-term agreement with Experia Events to install, own and operate rooftop solar panels with a total capacity of 6.3 megawatt peak, atop its flagship facility, Changi Exhibition Centre (CEC).

The rooftop solar energy system, which comprises of over 15,000 solar panels, will be built on top of the facility’s 40,000 square metre exhibition hall. It will help to power the onsite operations at CEC and any surplus power generated from this system will be channelled to the grid.

Sembcorp holds off plans to list India energy arm in favour of new equity injection

(June 18): Sembcorp Industries says its energy arm in India -- Sembcorp Energy India Limited (SEIL) -- is withdrawing a draft prospectus for listing.

“Under Indian regulatory requirements, this upcoming change to SEIL’s capital structure necessitates the withdrawal of the draft red herring prospectus (DRHP) earlier filed by SEIL with the Securities Exchange Board of India,” said Sembcorp in a Monday night filing.

However, Sembcorp says SEIL intends to re-file a revised DRHP at an appropriate time this year, taking into consideration market conditions, it added.

Semborp disposes entire Gallant Venture stake for $62 mil

SINGAPORE (June 12): Sembcorp Industries' wholly-owned subsidiary, Sembcorp Development, has disposed of its entire 10.27% stake in Gallant Venture for a consideration of $62 million.

Sembcorp’s interest represents some 548 million ordinary shares.

Upon completion of the transaction, Sembcorp will cease to be a substantial shareholder of Gallant. 

Gallant is the integrated master planner for industrial parks and resorts in Batam and Bintan.

The sale consideration took into account the fact that Gallant shares have been thinly traded on the Singapore Exchange.

Sembcorp Industries' near-term outlook hinges on sustained India uptrend, say analysts

SINGAPORE (May 21): CGS-CIMB Research and DBS Vickers Securities are maintaining their “add” and “buy” calls on Sembcorp Industries (SCI) with target prices of $3.41 and $3.90, respectively.

This comes after the group last week posted 21% higher 1Q earnings of $77 million on higher contributions from its energy segment, which was mainly driven by improved performance from India and the recognition of peak winter availability payments for UK Power Reserve.

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