Sembcorp Industries

Re: Sembcorp Industries

Postby behappyalways » Mon Sep 21, 2015 1:12 pm

Sembcorp sells Australian waste management business for A$485m
http://sbr.com.sg/markets-investing/new ... ness-a485m
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Re: Sembcorp Industries

Postby behappyalways » Thu Nov 19, 2015 10:33 am

Newly-minted Tuas integrated yard unlocks greater potential for SembMarine
http://sbr.com.sg/shipping-marine/news/ ... sembmarine
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Re: Sembcorp Industries

Postby behappyalways » Thu Feb 18, 2016 7:47 am

Sembcorp posts 31.5% fall in FY15 earnings to $549 million, dragged down by marine business
http://sgx.i3investor.com/servlets/fdnews/58169.jsp
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Re: Sembcorp Industries

Postby behappyalways » Thu May 05, 2016 4:13 pm

Sembcorp Industries’ net profit crashes 24.7% to $107m
http://sbr.com.sg/energy-offshore/news/ ... s-247-107m
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Re: Sembcorp Industries

Postby winston » Fri Sep 30, 2016 8:22 am

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Sembcorp's expanded but undervalued utilities business an attraction

By Benjamin Cher

SINGAPORE (Sept 29): DBS Group Research is reiterating its “buy” call on Sembcorp Industries with a target price of $3.10, citing the group’s undervalued utilities business although it has expanded regionally.

In a Wednesday report, analyst Ho Pei Hwa notes that Sembcorp is trading close to book value that comprises largely its utilities business. This also implies investors would be getting SembMarine shares for almost “free.”

Sembcorp’s first power plant in Indian, Thermal Powertech Corporation India which is expected to make about $10 million in earnings per quarter, made a small loss of under $1 million in 1H16 due to repairs and maintenance requiring shutdown, notes Ho.

However, the operation should turn profitable should capacity be ramped up to 86% as it has been contracted on long-term power purchase agreements since April, with the loss in 2Q16 being made up in 2H16.

Sembcorp’s expansion into emerging markets has helped mitigate the overcapacity and declining earnings from the Singapore power market, highlights Ho.

This means the Indian power plants will be key in driving earnings over the next two years. The company’s second Indian power plant, Sembcorp Gayatri Power is expected to start operations next year but with the spot market volatile; Ho notes that there is uncertainty on the profitability of the second plant.

In China, Sembcorp will also hand back the 2,300MW coal-fired power plant to the Chinese government in Oct. Operated by Yangcheng International Power Generating, the plant contributes 40% of Sembcorp’s net profits from China. Ho says the loss could be mitigated by the new 1,600MW power plant and water facility coming online in China next year.

Meanwhile, Myanmar and Bangladesh are expected to help drive medium-term growth according to Ho, as power plants in these countries are expected to come online in 2018 with long-term power purchasing agreements already signed.

“This should underpin the longer-term growth prospects of its utilities segment,” says Ho.

There are key risks for Sembcorp though. Competition in Singapore’s power market is rising and issues with oversupply and over-commitment of gas supply are likely to plague the market for the medium to long term ,Ho notes.

The Indian power plants too pose another potential key risk, with the availability of coal supply and power purchase agreements a concern.

Shares of Sembcorp Industries closed 2.8% higher at $2.60.

Source: The Edge

http://smr.theedgemarkets.com/article/s ... c-87358173
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Re: Sembcorp Industries

Postby winston » Wed Nov 23, 2016 9:23 am

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Sembcorp Industries: Well-positioned to seize opportunities

As a leading developer, owner and operator of energy and water assets with strong operational, management and technical capabilities, Sembcorp Industries has grown its operations to 14 countries and looks set to cement its presence in Asia.

Though its marine segment is facing headwinds, the longer term outlook for the utilities segment remains positive, and the group is well-positioned to seize emerging market opportunities.

In the nearer term, Sembcorp is also expecting more power assets start up. At current levels, the utilities stub is trading at about 0.7x book, which we feel is unjustified for a division that has in the past five years (and also likely in the future) netted ROEs of between 14-22%.

This is especially so considering the
1) less cyclical nature of the utilities industry,
2) its growing overseas segment, and
3) SCI’s proven ability to develop and execute large-scale greenfield projects.

Source: OCBC
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Re: Sembcorp Industries

Postby behappyalways » Wed Nov 23, 2016 7:07 pm

Why investors should not lose hope for the embattled SembCorp
http://sbr.com.sg/shipping-marine/news/ ... d-sembcorp
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Re: Sembcorp Industries

Postby winston » Thu Nov 24, 2016 9:23 am

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Bet on utilities to power Sembcorp’s future growth

By PC Lee

SINGAPORE (Nov 23): OCBC is maintaining its “buy” call on Sembcorp Industries, the developer, owner and operator of energy and water assets, with a fair value of $3.07, given the group is well-positioned to seize business opportunities with its strong track record.

In a Wednesday report, lead analyst Low Pei Han likes Sembcorp for its strong track record in generating and supplying power, steam and natural gas, and providing total water and wastewater solutions for industries. The group is also known for its strong operational, management and technical capabilities.

“Sembcorp has grown its operations to 14 countries and looks set to cement its presence in Asia. Though its marine segment is facing headwinds, the longer term outlook for the utilities segment remains positive,” says Low.

In the near term, Sembcorp is expected to start up more power assets. In 4Q16, unit 3 of its SGPL plant in India is expected to start is commercial operations while unit 4 is expected to be in early 2017. Meanwhile, the plant is working to secure long-term PPAs to add to the the one-year PPAs it has on hand.

In China, construction on the 1,320MW Chongqing power plant as gone ahead of schedule, and the first unit is expected to start commercial operations in 4Q16.

Low admits while the marine segment continues to be a risk for the group, the long-term growth prospects of the utilities segment which has exposure to developing markets look good.

“At current levels, the utilities stub is trading at about 0.7x book, which we feel is unjustified for a division that has in the past five years (and also likely in the future) netted ROEs of between 14-22%,’ says Low.

This is especially so considering the less cyclical nature of the utilities industry, its growing overseas segment and Sembcorp’s proven ability to develop and execute large-scale greenfield projects, adds the analyst.

Shares of Sembcorp closed 1 cent higher to $2.70.

Source: The Edge

http://smr.theedgemarkets.com/article/b ... 2-87358173
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Re: Sembcorp Industries

Postby winston » Fri Feb 24, 2017 8:26 am

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Sembcorp’s 4Q earnings more than double to $147.5 mil

By PC Lee

SINGAPORE (Feb 23): Sembcorp Industries, the energy, water and marine group, reported 4Q earnings more than doubled to $147.5 million from a year ago, as its marine business swung back to profitability and its urban development business put in a better performance.

During the quarter, revenue fell 16.3% to $2.03 billion from the previous year due mainly to the lower revenue in its marine business.

For FY16, earnings came in at $394.9 million, 28.1% lower than a year ago which included exceptional items totalling $369.9 million.

The utilities business contributed $348 million in net profit to the group, with China operations delivering record profits.

The urban development business recorded a net profit of $33.3 million while the marine business contributed a net profit of $48.3 million compared to a net loss of $176.4 million.

Revenue for FY16 came in 17.2% lower at $7.9 billion compared to $9.5 billion a year ago.

In its outlook, Sembcorp says the oil and gas market environment is expected to remain challenging in 2017.

Although prospects for industry have taken a more positive turn, its marine unit expects a more robust recovery make take longer.

However, with increasing enquiries for non-drilling solutions, the unit foresees an earlier recovery in demand for fixed platforms, FPSO and FSO conversions and new-builds in the next few years. Rising global demand for gas also augurs well for its broad-based LNG solutions and capabilities.

The board has proposed a final dividend of 4.0 cents per share. Together with an interim dividend of 4.0 cents per share paid in August 2016, this brings total dividend for the year to 8.0 cents per share.

Shares of Sembcorp closed 16 cents higher at $3.36 before the results announcement.

Source: The Edge

http://www.theedgemarkets.com.sg/smr/?q ... e-1475-mil
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Re: Sembcorp Industries

Postby behappyalways » Sat Feb 25, 2017 6:05 pm

Sembcorp's 4Q earnings more than double to $147.5 mil
http://sgx.i3investor.com/servlets/fdnews/66525.jsp
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