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Sembcorp Industries - Phillip Securities 2023-08-07: Exceptional Margin From Conventional Energy  

Sembcorp Industries - Exceptional Margin From Conventional Energy  

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Sembcorp (SGX:U96) | SGinvestors.ioSembcorp (SGX:U96)
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  • Together with temporary price controls implemented by the Energy Market Authority (EMA) from 1 July, we think 2H23e conventional energy margin would normalize.
  • Sembcorp began to accrue interest income of S$122mil from S$2bn deferred payment note it received from the sale of Indian power plants in Jan 2023. This includes a S$38mil fair value gain from a stronger Rupee. But it also booked a one-time non-cash accounting loss of S$78mil on reversal of currency translation and capital reserves.
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    • The Positives

    Surge in Singapore power price in 2Q and lower gas prices boost profit from conventional energy.

    • Read more at SGinvestors.io.




    Above is the excerpt from report by Phillip Securities Research.
    Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.



    Peggy Mak Phillip Securities Research | https://www.stocksbnb.com/ 2023-08-07


    Read also Phillip's most recent report:
    2025-03-05 Sembcorp Industries - Property Saves The Day.

    Previous report by Phillip:
    2024-08-12 Sembcorp Industries - Earnings Visibility Further Improves.

    Price targets by 4 other brokers at Sembcorp Target Prices.

    Listing of research reports at Sembcorp Analyst Reports.

    Relevant links:
    Sembcorp Share Price History,
    Sembcorp Announcements,
    Sembcorp Dividend Payout Dates & Corporate Actions,
    Sembcorp News



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