Sembcorp Industries Earnings Set to Be Supported by Senoko Energy Stake Increase -- Market Talk

Dow Jones
06/30

0600 GMT - Sembcorp Industries' earnings growth stands to be supported by its increased stake in Senoko Energy, Phillip Securities Research's Paul Chew says in commentary. There's scope for earnings improvement from lower debt costs, a higher proportion of long-term contracts and new capacity, the head of research says. Senoko Energy's attraction includes a direct gas pipeline from Malaysia and land for a new gas power plant. The brokerage expects the energy and urban solutions provider's 1H earnings to increase, partly thanks to the contribution from Senoko Power. It raises the stock's rating to buy from accumulate and the target price to S$8.10 from S$7.10. Shares are 0.15% higher at S$6.84. (ronnie.harui@wsj.com)

 

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June 30, 2025 02:00 ET (06:00 GMT)

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