While there is no immediate material impact on the earnings and net tangible assets of the group, analyst Krishna Guha sees this as a positive step towards Asean power integration and supports the energy transition plans of both countries.
Maybank Securities is keeping its “buy” recommendation on Sembcorp Industries (SGX:U96
) with a higher target price of $6.20 from $6.00 previously.
This comes on the back of Sembcorp agreeing to import 50MW of renewable energy from Tenaga of Malaysia to Singapore issued with Renewable Energy Certificates (RECs) using existing infrastructure. The two-year agreement starts this month. Pricing and settlement details are undisclosed.
