Sembcorp Environment is the parent company of SembWaste and Sembcorp Enviro Services, which are involved in processing, as well as the collection and recycling of industrial, commercial and municipal solid waste.
CGS International and Maybank Securities have maintained their “buy” calls on Sembcorp Industries (SGX:U96
) after Sembcorp announced that it was divesting its waste management arm, Sembcorp Environment. CGSI has kept its target price unchanged at $7.32 while Maybank Securities has maintained its target price at $6.
Sembcorp announced on Nov 8 that it entered into a share purchase agreement to sell its entire stake in Sembcorp Environment to SBT Investment 2, a wholly owned subsidiary of PT TBS Energi Utama Tbk.
