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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Sembcorp Marine Ltd    SCMN   SG1H97877952

SEMBCORP MARINE LTD

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Sembcorp Group Firms Surge On Temasek Bid for Keppel Control

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10/21/2019 | 05:25am EST

By Ben Otto

Shares in Sembcorp Industries Ltd. (U96.SG) and its drilling rigs builder unit jumped after Singapore's state investment firm Temasek Holdings Pte. Ltd. announced a bid to acquire a controlling stake in local conglomerate Keppel Corp. (BN4.SG).

Market analysts said Temasek's potential controlling stake in Keppel could pave the way for a merger of Singapore's two largest shipyards -- Keppel Offshore & Marine Ltd. and Sembcorp Marine Ltd. (S51.SG). Temasek owns about 50% of Sembcorp Industries, Sembcorp Marine's parent.

A larger stake in Keppel would give Temasek more flexibility to steer the consolidation of Singapore's offshore-and-marine industry, at a time when Chinese and South Korean shipyards are doing the same, Singapore-based brokerage KGI Securities said in a research note.

Temasek earlier Monday announced a US$3 billion bid to buy an additional 30.55% stake in Keppel, taking its total holding in the property-to-marine conglomerate to 51%.

Sembcorp shares gained 11%, while Sembcorp Marine was up 13%. Trading in Keppel shares was halted before the announcement.

Write to Ben Otto at ben.otto@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
KEPPEL CORPORATION LIMITED 0.58% 6.9 End-of-day quote.16.36%
SEMBCORP INDUSTRIES LTD 0.88% 2.29 End-of-day quote.-10.20%
SEMBCORP MARINE LTD 0.75% 1.34 End-of-day quote.-13.55%
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Financials (SGD)
Sales 2019 2 594 M
EBIT 2019 -33,6 M
Net income 2019 -63,6 M
Debt 2019 3 220 M
Yield 2019 0,22%
P/E ratio 2019 -48,5x
P/E ratio 2020 119x
EV / Sales2019 2,35x
EV / Sales2020 2,14x
Capitalization 2 885 M
Technical analysis trends SEMBCORP MARINE LTD
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 17
Average target price 1,48  SGD
Last Close Price 1,38  SGD
Spread / Highest target 44,9%
Spread / Average Target 7,50%
Spread / Lowest Target -20,3%
EPS Revisions
Managers
NameTitle
Weng Sun Wong President, CEO & Executive Director
Mohammed Hassan Marican Chairman
Cheng Tat Tan Chief Financial Officer
Chee Hing Chia Head-Information Technology
Simon Kuik Head-Research & Development