To recap, Sembcorp’s wholly-owned subsidiary, Sembcorp Utilities (SCU), has transferred its entire 88% stake in Sembcorp Gayatri Power (SGPL) to Thermal Powertech Corporation India (TPCIL) as part of the reorganisation.
Singapore (Feb 21): CIMB is maintaining its “add” call on Sembcorp Industries (SCI) with an unchanged target price of $3.87 after the conglomerate on Monday said it was reorganising its India energy operations for a more streamlined shareholding structure and greater synergy.
SCI is due to conduct its full-year results briefing on Friday morning together with an update on its ongoing strategic review.
