In 2018, the group’s India operations reversed out of the red and recorded profits of $47 million, as compared to a $58 million loss in 2017. Ho expects this trend to continue as India’s power market is recovering with current peak surplus is expected to reverse by FY20, driving up tariffs.
SINGAPORE (Sept 12): DBS Group Research is maintaining its “buy” recommendation on Sembcorp Industries (SCI) with a target price of $3.20.
In a Sept 12 report, analyst Ho Pei Hwa says, “SCI offers a unique value proposition as a defensive utilities business, and as a proxy to ride the cyclical O&M recovery.”
