Sembcorp Marine - OCBC Investment 2023-02-16: Beginning Of A New Era

Sembcorp Marine - Beginning Of A New Era

  • Approval obtained from shareholders for proposed combination.
  • Opportunities ahead but keep in mind risks as well.
  • Raise fair value estimate of Sembcorp Marine to S$0.185.

Approval obtained from Sembcorp Marine shareholders for proposed combination

  • Read this at -
  • Held this morning at 11am, the news was broken by a Business Times report at 12.30pm mentioning that more than 95% of Sembcorp Marine shareholders approved of the merger.

Opportunities ahead but keep in mind risks as well

  • Read this at -
  • cost inflation issues, and
  • customer concentration and order deferment risks.
  • In the shorter term, the deal approval and possibility of index inclusions (rebalancing may drive capital flows) are likely to support the stock, but there may also be downward pressure by Keppel Corp (SGX:BN4)'s shareholders who choose to sell Sembcorp Marine stock after receiving the distribution in-specie.

Keppel to retain 5% stake

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Above is the excerpt from report by OCBC Investment Research.
Clients of OCBC Securities may be the first to access the full report in PDF @

OCBC Research Team OCBC Investment Research | 2023-02-16

Previous report by OCBC:
2022-04-28 Sembcorp Marine - Transformational Step For The Future.

Price targets by 2 other brokers at Sembcorp Marine Target Prices.
Listing of research reports at Sembcorp Marine Analyst Reports.

Relevant links:
Sembcorp Marine Share Price History,
Sembcorp Marine Announcements,
Sembcorp Marine Dividends & Corporate Actions,
Sembcorp Marine News Articles

SGX Stock / REIT Search


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