Sembcorp Industries (U96.SG) is likely to report a 36% on-year fall in 4Q net profit to $165.7 million as a cyclical downturn in the rig building industry hurt its 61%-owned unit Sembcorp Marine, according to nine analysts polled by Dow Jones.
Posts Tagged ‘sembcorp industries’
Commodities, tourism, services: key Singapore themes – UBS
January 5th, 2011 |
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UBS says the latest data seems to be pointing to a scope for positive growth surprises in Singapore, “while policy risks pertaining to a fresh round of property tightening and SGD appreciation may have risen.”
The house likes commodity-related plays, especially the laggards in 2010, "and recent positive growth surprises globally should remain supportive of the call;" names Noble (N21.SG), Indofood Agri (5JS.SG), Keppel (BN4.SG), Sembcorp Industries (U96.SG).
Sembcorp Industries rated ‘buy’ by Phillip Securities
December 21st, 2010 |
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Phillip Securities Research in a Dec 17 research report says: “We visited Sembcorp Industries’ key utilities facilities on Jurong Island. We believe that there is scope for further expansion, including the construction of another wastewater treatment plant, if more chemical and petrochemical companies build their facilities on Jurong Island.
Sembcorp started at Buy; $5.90 target
December 16th, 2010 |
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BNP Paribas starts Sembcorp Industries (U96.SG) at Buy with a $5.90 sum-of-the-parts target price.
Expects the stock’s performance to be driven by its unit SembMarine (S51.SG), which historically has a 90% price correlation with oil prices.
Says orders for SembMarine are likely to increase to $3.3 billion next year from the $1.25 billion trough in 2009, driven by a rig replacement cycle and better returns from its high-specification rigs.
Rig builders rise; Morgan Stanley has bullish order outlook
November 25th, 2010 |
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Singapore rig builders rise, outperforming buoyant broad market, regaining most ground lost Tuesday in sharp market selloff as analysts remain bullish on order outlook for 2011.
SembCorp Marine (S51.SG) +1.8% at $5.00, Keppel (BN4.SG) +1.3% at $10.70, SembCorp Industries (U96.SG) +1.5% at $4.91, while STI +0.7%.
Morgan Stanley says “order pipelines for the SG yards have grown again since we last updated them in October,” with SMM, Keppel securing new orders with embedded options for extra future work.
Now expects $9.15 billion 2011 total order intake for Keppel (vs $4.20 billion previously), $11.01 billion for SMM (vs $4.01 billion). Ups SMM’s target to $5.15 vs $4.15, keeps Equalweight rating, ups Keppel’s target to $12.25 vs $11.00, keeps Overweight rating, ups SembCorp Industries’ target to $6.20 from $5.15, keeps Overweight rating.
Prefers laggards Sembcorp Industries, Keppel; says SMM order pipeline very strong, “but multiple is full.”
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Citi ups targets for Keppel, Sembcorp Industries
November 19th, 2010 |
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Citigroup has raised its target prices for rigbuilders Keppel Corp (KPLM.SI) and Sembcorp Industries (SCIL.SI) and kept its "buy" ratings on both firms.
Citi expects Keppel to hit $12.80, from a previous target of $11.10, while it says Sembcorp Industries can rise to $5.60 from $4.73.
STI may slip; Sembcorp, NOL, ST Engineering eyed
November 9th, 2010 |
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Pullback by DJIA, S&P 500 overnight may prompt investors to take profits on Singapore shares after yesterday’s strong run-up, which lifted STI to highest level since January 2008, +1.9% at 3,300.40.
Support for benchmark eyed at yesterday’s 3,257 intraday low. Local corporate earnings will continue to be in focus, with Sembcorp Industries (U96.SG), Armstrong Industrial (A14.SG) among latest to report results.
Sembcorp posts 65% rise in 3Q net profit to $244m
November 8th, 2010 |
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Sembcorp Industries reported a 65% growth in net profit for the third quarter of 2010 (3Q2010). In 3Q2010, group net profit was $244.1 million compared to $148.1 million, while turnover was $2.2 billion compared to $2.6 billion in 3Q2009.
The group’s share of Marine’s net profit for the quarter included an exceptional item comprising $32.1 million from Marine’s full and final amicable settlement of disputed foreign exchange transactions. Excluding this exceptional item, group net profit rose 43% from $148.1 million to $212.0 million.
Still value in Asia industrials, Keppel top pick-Credit Suisse
October 29th, 2010 |
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Credit Suisse says 2H Asia markets rally led by industrials, which best performing sector (+29%); “we continue to see value left in the sector, as ROE continues to surprise on the upside.”
Within Singapore, says Outperform-rated Keppel Corp (BN4.SG), Yangzijiang (BS6.SG), Sembcorp Industries (U96.SG), Sembcorp Marine (S51.SG) trading at 14%-31% discount to region on P/B to ROE valuation model. “In particular, Keppel Corp, our top pick in the Singapore capital goods sector, is trading at a 31% discount to the region and ranks highly in the undervalued list.
We believe the stock will be rerated, as rig orders strengthen going forward.” In China shipbuilding space, prefers Yangzijiang over Cosco “due to its exposure to the containership market, better execution capabilities and attractive valuations.” Keppel +0.7% at $9.76, Yangzijiang +1.1% at $1.88.
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Still value in Asia industrials, Keppel top pick: Credit Suisse
October 29th, 2010 |
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Credit Suisse says 2H Asia markets rally led by industrials, which best performing sector (+29%); “we continue to see value left in the sector, as ROE continues to surprise on the upside.”
Within Singapore, says Outperform-rated Keppel Corp (BN4.SG), Yangzijiang (BS6.SG), Sembcorp Industries (U96.SG), Sembcorp Marine (S51.SG) trading at 14%-31% discount to region on P/B to ROE valuation model.
Sembcorp acquires all remaining shares in The China Water Company
October 22nd, 2010 |
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Sembcorp Industries announces that it is acquiring all remaining shares in The China Water Company (CWC) not already held by Sembcorp’s municipal water subsidiary, Cascal.
The company signed a sale and purchase agreement today with CWC’s only other shareholder, Waterloo Industrial Limited, for its 13% stake in CWC.
Sembcorp gets financing for $2b India project
September 13th, 2010 |
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Singapore’s Sembcorp Industries (SCIL.SI) said on Monday that one of its India units has signed financing agreements with lenders for a $2 billion power plant project in the southern Indian state of Andhra Pradesh.
The financing covers approximately 75% of the project cost that Sembcorp unit, Thermal Powertech Corporation India, needs to develop the 1,320 megawatt power plant.
The Singapore rigbuilding and engineering conglomerate did not name the lenders in its filing to the stock exchange.
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SembCorp Industries signs financing arrangement for India plant
September 13th, 2010 |
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SembCorp Industries said its Thermal Powertech Corp. business has signed financing arrangements covering 75% of the $2 billion cost of a power plant in Andhra Pradesh, India.
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Bright Water prospects for Hyflux, Sembcorp: Credit Suisse
August 31st, 2010 |
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Hyflux (600.SG), Sembcorp Industries (U96.SG) well placed to capitalise on growing global demand for water, with 37% of world’s population estimated to face absolute water stress by 2020, says Credit Suisse, according to Dow Jones.
Research house tips global desalination, water recycling capacity to increase at 10% CAGR over next 5 years, with incremental investments of more than US$70 billion ($95 billion).
Sembcorp +2.2%; Middle-term utilities growth: DMG
August 26th, 2010 |
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Sembcorp Industries (U96.SG) +2.2% at $4.18 as utilities business expansion drives interest, according to Dow Jones.
Company has sealed 20-year contract to supply steam, water treatment services to support Jurong Aromatics Corp’s upcoming aromatics complex in Singapore’s Jurong Island.
Sembcorp Industries’ 2Q profit likely +21%: Poll
August 12th, 2010 |
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Sembcorp Industries’ (U96.SG) 2Q net profit likely +21% on-year at $172 million vs $142 million year earlier, due to higher contributions from its marine, utilities division, according to Dow Jones poll of 5 analysts.
Still, analysts say slowing order book flows may hurt earnings in coming quarters; think oil spill in Gulf of Mexico will weigh on new rig orders, even though underlying demand remains strong.
“The aftershocks from the GoM (Gulf of Mexico) oil spill are clouding the outlook for new drilling rig floaters,” says Morgan Stanley. 2Q results due later today.
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STI off 0.6%; Long weekend keeps buyers away
August 6th, 2010 |
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Investors pare positions in Singapore shares ahead of long weekend as city-state celebrates National Day on Monday, says Dow Jones.
Caution ahead of US July non-farm payrolls data due later Friday also keeping buyers away. STI down 0.6% at 2,988.87 midday, led by SingTel (Z74.SG), off 2.2% at $3.05, UOB (U11.SG), off 1.0% at $19.50, Keppel Corp. (BN4.SG), off 1.7% at $9.07, NOL (N03.SG), off 1.4% at $2.10, Sembcorp Industries (U96.SG), off 1.6% at $4.24.
Sembcorp Industries 2Q profit likely +21%: Poll
July 21st, 2010 |
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Sembcorp Industries (U96.SG) 2Q net profit likely +21% on-year to $172 million vs $142 million year earlier, due to higher contributions from its marine, utilities division, according to Dow Jones poll of five analysts.
Still, analysts say slowing order book flows may hurt earnings in coming quarters; think oil spill in Gulf of Mexico will weigh on new rig orders, even though underlying demand remains strong.
“The aftershocks from the GoM (Gulf of Mexico) oil spill are clouding the outlook for new drilling rig floaters,” says Morgan Stanley.
2Q results due Aug 12.
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Sembcorp Industries rated buy
July 12th, 2010 |
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DMG & Partners Securities in a July 12 research report says: “Sembcorp Industries (SCI) has successfully completed the initial tender offer for all of the issued and outstanding common shares of Cascal, a NYSE listed water company.