Sembcorp Industries

Sembcorp Industries

Postby winston » Thu May 15, 2008 11:26 am

From Kim Eng:-

Sembcorp Industries F1Q08 results – BUY (Rohan Suppiah; DID:6432 1455) Previous Day Closing price: S$4.30
Recommendation: BUY (maintained)
Target price: S$5.76 (maintained)

Net profit up a steady 8%

SembCorp Industries (SCI) reported net profit of S$123.1m, down 4.3% - xcluding a S$14.5m write back in 1Q07, net profit rose a decent 7.8%.

Typically, SCI’s Utilities and Marine businesses were its main contributors, accounting for 49% and 45% of net earnings respectively.

While utilities contribution was lower, 1Q07 included a one-off gain from the sale of land at Wilton in the UK.

Near term issues for utilities

After discounting the land sale, utilities will probably see marginally lower contributions from its UK and China operations.

SCI has not been able to push through price increases at its Shanghai cogen plant in order to keep pace with a 28% in natural gas costs.

Wilton’s performance is expected to be affected by the expiry of some contracts in the UK and any further depreciation in the English pound.

Expansion into water going to plan

With the awarding of Singapore’s latest Changi NEWater plant in February, SCI has moved into water technologies in a significant way.

With a capex of S$188m, SCI will be able to recognize some earnings from this contract in the near term, but this is marginal and purely an accounting treatment.

We do not expect significant cash flows until 2011.

Maintain Buy

We expect to see Utilites continue to be a steady performer, while Marine is still on its earnings growth trajectory as it converts on its S$6.6bn order book.

We are maintaining our forecast for net profit to grow by 5% in FY08. SOTP target price of $5.76 is maintained, as is our BUY recommendation.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108782
Joined: Wed May 07, 2008 9:28 am

Re: Sembcorp Industries

Postby Blackjack » Fri Jul 11, 2008 9:02 pm

Sembcorp aggressively pursuing its foray in water supply and wastewater treatment in China.

JV to acquire 3 water works facilities in Shenyang just 2 weeks after signing a Heads of Agreement (HoA) to expand water and utilities business to Southern China.
http://info.sgx.com/webcorannc.nsf/0357d11048060bb84825735f0028e25b/bfaeab97bcc0090f482574820003a183?OpenDocument
User avatar
Blackjack
Foreman
 
Posts: 257
Joined: Tue Jul 08, 2008 10:00 pm

Re: Sembcorp Industries

Postby winston » Mon Jul 14, 2008 8:44 am

SINGAPORE, July 14 (Reuters) - Sembcorp Industries may be in focus on Monday after it said it will buy and run three water plants in Shenyang, China, investing 330 million yuan ($48.3 million) in the projects.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108782
Joined: Wed May 07, 2008 9:28 am

Re: Sembcorp Industries

Postby winston » Wed Aug 06, 2008 10:01 pm

Sembcorp Q2 profit up 6.6%
By WONG WEI KONG

Sembcorp Industries (Sembcorp) said Wednesday net profit rose 6.6 per cent to S$138.2 million in the second quarter ended June 30, 2008.

Revenue increased 28.8 per cent to S$2.58 billion. Earnings per share in Q208 was 7.77 Singapore cents, up from 7.29 cents a year ago.

For the first six months of the year, Sembcorp reported a 23 per cent growth in revenue to S$4.7 billion while net profit grew 1.2 per cent to S$261.3 million.

Sembcorp said the utilities and marine businesses continued to be its main profit contributors.

The group said it is aiming to maintain its FY2007 after-tax profit in FY2008, before exceptional items and a one-off tax write-back, and barring unforeseen circumstances.

'However, the challenging global economic and financial environment creates uncertainty that may affect our forecast,' it added.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108782
Joined: Wed May 07, 2008 9:28 am

Re: Sembcorp Industries

Postby winston » Thu Aug 07, 2008 8:27 am

RESEARCH ALERT-Citi cuts Sembcorp target to S$5.35, keeps buy

SINGAPORE, Aug 7 (Reuters) - Citigroup has cut its target price for Sembcorp Industries to S$5.35 from S$5.50 to reflect weaker contributions from its utilities business, but kept its "buy" rating for the conglomerate.

"We cut our forecasts by 2-4 percent for 2008 and 2009 to reflect weaker utilities contribution, but maintain our positive stance," said Citi analysts Low Horng Han and Rigan Wong in a research note.

"We like Sembcorp Industries for its exposure to offshore and marine strength, couple with the improving utilities and environment business," they said.

Shares of Sembcorp Industries closed at S$4.47 on Wednesday.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108782
Joined: Wed May 07, 2008 9:28 am

Re: Sembcorp Industries

Postby millionairemind » Fri Sep 12, 2008 9:37 pm

Sembcorp Transfers Gas Transportation Business To PowerGas
Sembcorp Gas (SembGas), is a 70%-owned indirect subsidiary of Sembcorp Industries,
has transferred its transmission and distribution pipeline assets located downstream of the SembGas receiving terminal on Jurong Island to PowerGas, the licensed gas transporter under the Gas Act. This came as a result of the restructuring of the gas industry in Singapore, whereby the gas transportation business will be separated from gas import, trading and retailing at the ownership level. SembGas will thus recognise a one-off gain of $25m in FY08 results. However, it is estimated that there will be a negative impact of $3.6m p.a. to SembGas’ after tax profits for subsequent years until 2023.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
User avatar
millionairemind
Big Boss
 
Posts: 9605
Joined: Wed May 07, 2008 8:50 am
Location: The Matrix

Re: Sembcorp Industries

Postby millionairemind » Fri Nov 07, 2008 7:37 pm

November 7, 2008, 6.15 pm (Singapore time)

Sembcorp reports 25% rise in net profit

Sembcorp Industries on Friday reported third-quarter net profit of S$144.9 million (US$97 million), up 25 per cent from the S$116.1 million it earned during the same quarter a year earlier.

Turnover rose 12 per cent to S$2.5 billion from S$2.2 billion a year ago.
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
User avatar
millionairemind
Big Boss
 
Posts: 9605
Joined: Wed May 07, 2008 8:50 am
Location: The Matrix

Re: Sembcorp Industries

Postby millionairemind » Fri Nov 14, 2008 7:51 pm

November 14, 2008, 6.49 pm (Singapore time)

SembCorp completes S$64m purchase of China water plants
By ANGELA TAN
Sembcorp on Friday said its 80 per cent subsidiary, Shenyang Sembcorp Water Company, has completed its S$64 million acquisition of three water works facilities in China.

These water failities have a total design capacity of 160,000 cubic metres per day, and will mainly serve industrial customers in the Shenyang Economic & Technological Development Zone.

The assets were purchased for a total purchase price of RMB 306.6 million (about S$64 million).
"If a speculator is correct half of the time, he is hitting a good average. Even being right 3 or 4 times out of 10 should yield a person a fortune if he has the sense to cut his losses quickly on the ventures where he has been wrong" - Bernard Baruch

Disclaimer - The author may at times own some of the stocks mentioned in this forum. All discussions are NOT to be construed as buy/sell recommendations. Readers are advised to do their own research and analysis.
User avatar
millionairemind
Big Boss
 
Posts: 9605
Joined: Wed May 07, 2008 8:50 am
Location: The Matrix

Re: Sembcorp Industries

Postby winston » Thu Nov 27, 2008 8:10 am

Not vested.

RESEARCH ALERT-Merrill Lynch upgrades Sembcorp Industries to buy

SINGAPORE, Nov 27 (Reuters) - Merrill Lynch upgraded its rating on Sembcorp Industries to "buy" from "neutral" on Thursday, citing the firm's strong earnings stream from its utilities business.

"We prefer Sembcorp Industries for its underlying utilities business which is expected to provide a resilient earnings stream in light of a global recession," Merrill Lynch analyst Melinda Baxter said in a note.

Merrill Lynch however cut the price target for shares of Sembcorp Industries to S$3.00 from S$4.00. The firm's shares ended at S$2.3 on Wednesday.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108782
Joined: Wed May 07, 2008 9:28 am

Re: Sembcorp Industries

Postby winston » Fri Jan 16, 2009 4:13 pm

SembCorp Industries looks set to win its second multi-billion dollar power and desalination project in the Middle East, after being named 'preferred bidder' for the US$1 billion plus Salalah independent water and power project (IWPP) in Oman.
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
User avatar
winston
Billionaire Boss
 
Posts: 108782
Joined: Wed May 07, 2008 9:28 am

Next

Return to S to T

Who is online

Users browsing this forum: No registered users and 2 guests