Post Reply
41-60 of 128
SINGAPORE: Sembcorp Industries said on Friday (Feb 23) it expects to raise about S$500 million from the sale of some utilities assets and plans to list its Indian energy business, as it reported a plunge in quarterly profit.
The industrial conglomerate, which has been conducting a strategic review of its business, said it has begun the process for an initial public offering (IPO) of the Indian unit, Sembcorp Energy India Ltd.
It expected the divestments to provide cash proceeds of up to S$500 million, not including the potential proceeds from the proposed India IPO.
Sembcorp has filed a draft preliminary prospectus for the listing on BSE Ltd and the National Stock Exchange of India.
The company, the biggest shareholder in rig-builder Sembcorp Marine, reported a net profit of S$22.8 million for the fourth quarter, a drop of 85 per cent from the same period a year ago.
Sembcorp Marine turned in poorer-than-expected results earlier this week, sending its stock down 11 per cent on Thursday. Still, its shares have risen more than 26 per cent this year.
Sembcorp Industries' review of its businesses, which began last year, had prompted market talk of a potential privatisation or divestment of Sembcorp Marine, according to analysts.
Mr Neil McGregor, Sembcorp Industries' CEO, said the company was confident that Sembcorp Marine was well-positioned to benefit from offshore and marine industry' s recovery, said.
" We will continue to support the business through the cycle," he said.
Read more at https://www.channelnewsasia.com/news/business/sembcorp-industries-to-raise-s-500-million-from-asset-sales-9983656
sci pays 2 cents + 3 cents =50 dolla for 1000 shares this year. only 1.xx% yield.
who receive 22cents??
who receive 22cents??
i admit SCI quite generous to give div
allent ( Date: 23-Feb-2018 14:03) Posted:
|
the richs very cunning and calculative, no way can queez their money...
only they can take advantage on you but not the other way round ...
wait and see if SCI pour money there sure get hit blue black in future
only they can take advantage on you but not the other way round ...
wait and see if SCI pour money there sure get hit blue black in future
beginners ( Date: 23-Feb-2018 12:36) Posted:
|
It pays net interest of 22c per share for the year, at net rate of 6.74%. Very lucrative for its lenders.
Haha, in fact it?s not easy to work with there. Very good in talking but can not deliver result. Every time roti prata here and there!
KAMAL0883 ( Date: 23-Feb-2018 10:47) Posted:
|
|
hlfoo2010 ( Date: 23-Feb-2018 11:58) Posted:
|
Justin Trudeau also think so before going there, maybe i wrong ?????
Justin Trudeau&rsquo s disastrous trip to India has gone from bad to worse, not least because of his near-obsessive need to dress in over-the-top traditional garments.
Feb 23, 2018 01:21
Andy80 ( Date: 23-Feb-2018 11:46) Posted:
|
Tot it may head more south.
Guys, when' s a good time to accumulate more? Now?
Guys, when' s a good time to accumulate more? Now?
hahaha what to do cos the bank want to make Indian' s money......
actually not only my bank there' re many banks migrate part of the works to India to save cost but they are not aware that not easy to make money from India, you make $50 they fine you $25 for dirty their enviroment
actually not only my bank there' re many banks migrate part of the works to India to save cost but they are not aware that not easy to make money from India, you make $50 they fine you $25 for dirty their enviroment
beginners ( Date: 22-Feb-2018 20:33) Posted:
|
I think funds are buying the IPO thing & looking forwrd for the divestment of assets..
actually more than 1 billion equity, considering the divestment of debts on the India energy assets upon IPO
anyway, i' ll keep my holdings long term.. today many panic sellers
anyway, i' ll keep my holdings long term.. today many panic sellers
FATABA ( Date: 23-Feb-2018 09:19) Posted:
|
the Group is planning to divest a number of peripheral utilities assets. Over the next two years, this is expected to deliver estimated cash proceeds of up
to S$0.5 billion. This is additional to potential proceeds from the proposed IPO of Sembcorp Energy India Limited
The attractive part is this $1B ( IPO aro 500M ) ......with this over next 2 years, Semb C has much cash to await the recovery of Semb M .
which can be very attractive w its capabilities in oil rig once recovery and orders start kicking it.
Then Semb Corp is firing on all sectors.
Dyodd
to S$0.5 billion. This is additional to potential proceeds from the proposed IPO of Sembcorp Energy India Limited
The attractive part is this $1B ( IPO aro 500M ) ......with this over next 2 years, Semb C has much cash to await the recovery of Semb M .
which can be very attractive w its capabilities in oil rig once recovery and orders start kicking it.
Then Semb Corp is firing on all sectors.
Dyodd
Octavia ( Date: 23-Feb-2018 09:13) Posted:
|
*Sembcorp Industries
- 4Q17 net profit plunged 85% to $22.8m, taking FY17 earnings to $230.8m (-42%), widely missing the mark.
- Turnover for the quarter inched 4.8% higher to $2.12b, on better utility performance (+24%), but pared by the marine division (-21%) due to lower sales recognition for rig & floaters and offshore platform projects.
- However, gross margin slumped 5.4ppt to 7% on lower profitability in both divisions.
- Bottom line was further impacted by a $25.4m provision for potential fines and claims at an overseas water business arising from an alleged environmental offence for discharge of off-specification wastewater.
- Final DPS halved to 2¢ , bringing FY17 payout to 5¢ (FY16: 8¢ ).
- Plans utilities divestments of up to $0.5b and IPO of India energy business.
- Last traded at 13.8x forward P/E.
- 4Q17 net profit plunged 85% to $22.8m, taking FY17 earnings to $230.8m (-42%), widely missing the mark.
- Turnover for the quarter inched 4.8% higher to $2.12b, on better utility performance (+24%), but pared by the marine division (-21%) due to lower sales recognition for rig & floaters and offshore platform projects.
- However, gross margin slumped 5.4ppt to 7% on lower profitability in both divisions.
- Bottom line was further impacted by a $25.4m provision for potential fines and claims at an overseas water business arising from an alleged environmental offence for discharge of off-specification wastewater.
- Final DPS halved to 2¢ , bringing FY17 payout to 5¢ (FY16: 8¢ ).
- Plans utilities divestments of up to $0.5b and IPO of India energy business.
- Last traded at 13.8x forward P/E.
Not unlocking much value unless Marine is divested.
No change ....awaiting oil sector recovery.
chanbs ( Date: 23-Feb-2018 08:57) Posted:
|
No mention on action plan for its marine div
will be below $3.00....falling knife can not touch!!
HOPELESS....like son like father....
john_ric ( Date: 23-Feb-2018 07:58) Posted:
|
Not a nice set of result but barring Semb M issue , the reorg is certainly a bright thing to look forward with up to $1B ( coming up )
0.5B IPO plus divestment 0.5 over nex 2 yrs......see below.
Unlocks value with targeted utilities divestments of up to S$0.5 billion and proposed IPO of India energy business
To build a platform for growth and sustainability of its India energy business, the company today announced that it has initiated the process for an initial public offering of Sembcorp Energy India Limited on BSE Limited and the National Stock Exchange of India, with the filing of a draft red herring prospectus.
Following the review of its Utilities business, the Group is planning to divest a number of peripheral utilities assets. Over the next two years, this is expected to deliver estimated cash proceeds of up 4
to S$0.5 billion. This is additional to potential proceeds from the proposed IPO of Sembcorp Energy India Limited. The company also announced that it had entered into a conditional agreement to divest its municipal water operations in South Africa, as part of its geographical repositioning. The Group&rsquo s focus on active and systematic capital recycling will enable it to strengthen its balance sheet and deliver sustainable growth.
0.5B IPO plus divestment 0.5 over nex 2 yrs......see below.
Unlocks value with targeted utilities divestments of up to S$0.5 billion and proposed IPO of India energy business
To build a platform for growth and sustainability of its India energy business, the company today announced that it has initiated the process for an initial public offering of Sembcorp Energy India Limited on BSE Limited and the National Stock Exchange of India, with the filing of a draft red herring prospectus.
Following the review of its Utilities business, the Group is planning to divest a number of peripheral utilities assets. Over the next two years, this is expected to deliver estimated cash proceeds of up 4
to S$0.5 billion. This is additional to potential proceeds from the proposed IPO of Sembcorp Energy India Limited. The company also announced that it had entered into a conditional agreement to divest its municipal water operations in South Africa, as part of its geographical repositioning. The Group&rsquo s focus on active and systematic capital recycling will enable it to strengthen its balance sheet and deliver sustainable growth.