Sembcorp Industries - Maybank Research 2024-09-18: Accretive 30% Stake In Senoko Energy; Deepening Footprint

• Sembcorp (SGX:U96) agreed to acquire ENGIE’s 30% interest in Senoko Energy. Senoko has a fifth of its power generation capacity in Singapore and is a licensed gas shipper and retailer. Pricing details are not available and subject to regulatory approvals and pre-emption right of other shareholders of Senoko.
• - Read this at SGinvestors.io -

Poised to deliver more power

• Senoko Energy has a 2.8GW combined cycle gas turbine (CCGT) plant at Woodlands in north Singapore, accounting for 21.7% of Singapore’s installed power generation capacity and 15.4% of generated electricity as of 1H23. Comparatively, Sembcorp has ~10% generated electricity market share.
• - Read this at SGinvestors.io -

Strategic and financial merits of the deal

• Read more at SGinvestors.io.

Above is an excerpt from a report by Maybank Research.
Clients of Maybank Securities may be the first to access the full PDF report @ https://www.maybanktrade.com.sg/.

Read also Maybank's most recent report:
2025-03-04 Sembcorp Industries - Resilient Performance; Gas Business Poised To Grow.

Previous report by Maybank:
2025-02-04 Sembcorp Industries - Reducing Emphasis On Sustainable Solutions Business.

Price targets by 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