Sembcorp Industries held an Extraordinary General Meeting on Jan, 30 2026, where shareholders overwhelmingly backed the company’s proposed acquisition of Australian energy assets.

The ordinary resolution, covering the purchase of all issued shares in PSH and LVP by Sembcorp’s wholly owned subsidiaries Sembcorp Australia Pty Ltd and Sembcorp Energy Australia Pte. Ltd., was passed with 1,210,906,396 votes (99.76%) in favour and 2,863,219 votes (0.24%) against, out of 1,213,769,615 shares voted.

The deal, priced at AUD 6.5 billion—approximately 5.6 billion Singapore dollars—will be funded fully in cash via a committed bridge facility, with no equity fundraising required.

Based on illustrative pro forma figures for the 12 months ended Jun, 30 2025, the acquisition is expected to lift Sembcorp’s adjusted EBITDA and net profit by 42% and 23% respectively, raise earnings per share by 23% to SGD 0.70, and boost return on equity to 24.3%.

Management told shareholders the purchase adds “meaningful scale and diversity,” combining Alinta’s renewables pipeline and gas assets with Sembcorp’s existing wind, solar and energy-storage portfolio.

The company cautioned that near-term emissions will rise, projecting an emissions intensity of about 0.36 tCO₂e/MWh and absolute emissions of 18.1 million tCO₂e in 2025. Sembcorp set a new target to reduce intensity to 0.26 tCO₂e/MWh by 2035 and reiterated its commitment to achieve net-zero Scope 1 and 2 emissions by 2050.

The meeting concluded at 11:55 a.m. with no further business.