Sembcorp: Difference between revisions

| type = Public company

| traded_as = SGX: U96

| ISIN = SG1R50925390

| key_people = Wong Kim Yin (Group President & CEO)

Graham Cockroft (Group Chief Financial Officer)

| services = Energy, Utilities, Renewables, Electricity, Water, Solar, Wind, Gas and Steam generation, Urban Development, Urban Planning

Sembcorp Industries (Sembcorp) is an [[energy]] and [[Urban planning|urban development]] company.<ref>{{Cite web|title=Sembcorp - Purpose & Values|url=https://www.sembcorp.com/en/about-sembcorp/purpose-values|access-date=2020-09-24|website=www.sembcorp.com}}</ref>

Sembcorp's [[Sembcorp Marine|marine division]] provided a variety of services, including the engineering and construction of [[offshore platform]]s for [[oil extraction]], until it was [[demerge]]d from Sembcorp in 2020 following poor financial performance.<ref name="halted"/> Sembcorp currently has an energy portfolio of over 12,600[[megawatt|MW]], with more than 2,600MW of renewable energy capacity globally. The company also develops raw land into urban developments, with a project portfolio of over 12,000 hectares across [[Asia]].

Sembcorp is listed on the main board of the [[Singapore Exchange]].<ref>{{Cite web|last=hermesauto|date=2020-08-11|title=Singapore stock watch: Keppel, SIA, Sembcorp, Sembmarine, SGX, Top Glove, Tuan Sing, iFast|url=https://www.straitstimes.com/business/companies-markets/singapore-stock-watch-keppel-sia-sembcorp-sembmarine-sgx-top-glove-tuan|access-date=2020-09-24|website=The Straits Times|language=en}}</ref> It is a component stock of the [[Straits Times Index]] and sustainability indices including the [[FTSE4Good Index]]<ref>{{Cite web|title=FTSE4Good Index Series|url=https://www.ftserussell.com/products/indices/ftse4good|access-date=2020-09-24|website=www.ftserussell.com|language=en}}</ref>, the [[Dow Jones Sustainability Indices|Dow Jones Sustainability Asia Pacific Index]] and the iEdge SG ESG indices.<ref>{{Cite web|title=iEdge SG ESG Leaders Index - Singapore Exchange (SGX)|url=https://www.sgx.com/indices/products/esgle|access-date=2020-09-24|website=www.sgx.com|language=en}}</ref>

In March 2020, it was announced that Sembcorp was replacing their CEO<ref name="sembcorpCEO">{{cite web

|url=https://www.sembcorp.com/en/media/media-releases/corporate/2020/march/leadership-succession-at-sembcorp-industries/

|title=Leadership Succession at Sembcorp Industries

|author= <!-- not given -->

|date=16 March 2020

|website=Sembcorp

|publisher=

|access-date=24 September 2020

|quote=}}</ref>, an action which is often taken due to adverse events, and can have negative effects on a company's performance and valuation.<ref name="CEO">{{cite web

|url=https://web.archive.org/web/20091105022411/http://www.chiefexecutive.net/ME2/Audiences/dirmod.asp?sid=&nm=&type=Publishing&mod=Publications%3A%3AArticle&mid=8F3A7027421841978F18BE895F87F791&AudID=F242408EE36A4B18AABCEB1289960A07&tier=4&id=1CC0EBF0E6C5419C8DAEE732DE6F5A64

|title=What’s Wrong with CEO Succession?

|last=Pellet

|first=Jennifer

|date=23 June 2009

|website=Chief Executive

|publisher=Chief Executive Group

|access-date=24 September 2020

|quote=}}</ref> Sembcorp failed to declare an interim dividend for 1H 2020 (as is usual practice), instead choosing to defer any decision regarding payment of dividends for the fiscal year 2020 until the end of the year.<ref name="seeking"/> In June of the same year, trading was halted for Sembcorp as well as [[Sembcorp Marine]], a loss-making subsidiary whose shares had declined by 36% in 2020.

<ref name="halted">{{cite web

|url=https://www.oedigital.com/news/479101-halted-shares-of-sembcorp-marine-parent-in-focus-in-singapore

|title= Halted Shares of Sembcorp Marine, Parent in Focus in Singapore

|last=Daga

|first=Anshuman

|date=5 June 2020

|website=Offshore Engineer

|publisher=

|access-date=24 September 2020

|quote=}}</ref> Representatives from both companies declined to comment.<ref name="halted"/> Between June 11 and July 24, 2020, Sembcorp Industries' share price declined by 11%.<ref name="seeking">{{cite web

|url=https://seekingalpha.com/article/4361030-sembcorp-industries-dividend-deferment-demerger-and-ceo-succession-draw-attention

|title=SembCorp Industries: Dividend Deferment, Demerger And CEO Succession Draw Attention

|last=

|first=

|date=27 July 2020

|website=Seeking Alpha

|publisher=

|access-date=24 September 2020

|quote=}}</ref>

<!-- <ref name="">{{cite web

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===Singapore===

Sempcorp owns and operates the largest [[NEWater]] plant<ref>{{Cite web|title=Sembcorp NEWater Plant at Changi {{!}} Reclaimed Water Project|url=https://www.bv.com/projects/sembcorp-newater-plant-changi-reclaimed-water-project|access-date=2020-09-24|website=Black & Veatch|language=en}}</ref> in Singapore, and provides [[Waste management|solid waste management]] services.

===China===

Sembcorp is an investor in the [[Suzhou Industrial Park|China-Singapore Suzhou Industrial Park]], Wuxi-Singapore Industrial Park<ref>{{Cite web|last=hermesauto|date=2019-09-27|title=Singapore and China ink 16 deals in eastern Jiangsu province|url=https://www.straitstimes.com/asia/east-asia/singapore-and-china-ink-16-deals-in-eastern-jiangsu-province|access-date=2020-09-24|website=The Straits Times|language=en}}</ref>, International Water Hub<ref>{{Cite web|title=国际水务中心|url=http://niwh.com/articles/title/IWH%C3%A7%C2%AE%C2%80%C3%A4%C2%BB%C2%8B|access-date=2020-09-24|website=niwh.com}}</ref> and Singapore-Sichuan Hi-tech Innovation Park.<ref>{{Cite web|title=Singapore and China express commitment to keeping supply chains, trade lines open amid COVID-19|url=https://www.channelnewsasia.com/news/singapore/singapore-china-mti-covid-19-trade-supply-chains-12966876|access-date=2020-09-24|website=CNA|language=en}}</ref>

===India===

Despite their commitment to renewable energy in China and Singapore, Sembcorp constructed a 1,320-megawatt supercritical coal-fired [[Power Plant|power plant]] in [[Andhra Pradesh]].<ref>{{Cite web|last=hermes|date=2016-02-27|title=Sembcorp opening $4 billion India power complex|url=https://www.straitstimes.com/business/companies-markets/sembcorp-opening-4-billion-india-power-complex|access-date=2020-09-24|website=The Straits Times|language=en}}</ref> In 2015, they acquired a wind and solar power company, Green Infra.<ref>{{Cite web|title=Sembcorp wins second Indian wind power project|url=https://www.channelnewsasia.com/news/business/sembcorp-wins-second-indian-wind-power-project-9401976|access-date=2020-09-24|website=CNA|language=en}}</ref> In 2016, Sembcorp launched a $3 billion, 2,640-megawatt power complex in Andhra Pradesh. In 2020, Sembcorp commemorated the completion of 800MW of Solar Energy Corporation of India wind power projects. <ref>{{Cite web|last=Thomas|first=Tanya|date=2020-07-29|title=Sembcorp completes 800MW of SECI wind power projects|url=https://www.livemint.com/industry/energy/sembcorp-completes-800mw-of-seci-wind-power-projects-11596024978746.html|access-date=2020-09-24|website=mint|language=en}}</ref>

===United Kingdom (UK)===

===Myanmar===

In 2015, Sembcorp pivoted away from renewable energy investments, beginning the development of a 225-megawatt gas-fired power plant (the Sembcorp Myingyan Power Plant) which officially opened in 2019. However, solar power generation was integrated into the plant.<ref>{{Cite web|last=hermes|date=2019-03-18|title=Sembcorp fires up Myanmar power plant|url=https://www.straitstimes.com/business/sembcorp-fires-up-myanmar-power-plant|access-date=2020-09-24|website=The Straits Times|language=en}}</ref>

===Oman===

In 2009, Sembcorp won a project to develop the US$1 billion [https://www.sembcorpsalalah.com.om/ Salalah Independent Water and Power Plant].<ref>{{Cite web|last=migration|date=2013-09-26|title=Sembcorp Salalah Power & Water Company's initial public offering fully taken up|url=https://www.straitstimes.com/business/sembcorp-salalah-power-water-companys-initial-public-offering-fully-taken-up|access-date=2020-09-25|website=The Straits Times|language=en}}</ref>

===United Arab Emirates (UAE)===

In 2006, Sembcorp started work on the [[Fujairah F1 Independent Water and Power Plant|Fujairah 1 Independent Water and Power Plant]], a 893 MW and 130 million imperial gallons per day hybrid [[desalination]] plans.<ref>{{Cite web|last=migration|date=2013-09-26|title=Sembcorp Salalah Power & Water Company's initial public offering fully taken up|url=https://www.straitstimes.com/business/sembcorp-salalah-power-water-companys-initial-public-offering-fully-taken-up|access-date=2020-09-24|website=The Straits Times|language=en}}</ref>

===Vietnam===

In 1996, the first Vietnam Singapore Industrial Park (VSIP) was established in [[Bình Dương Province|Binh Duong]] province in [[Southern Vietnam|southern Vietnam.]] In 2001, Sembcorp made an investment to develop the Phu My 3 independent power plant. In 2005, Sembcorp expanded its presence in southern Vietnam with VSIP Binh Duong II. In 2007, Sembcorp began a third VSIP project, VSIP Bac Ninh. In 2009, Sembcorp entered a joint venture agreement for its fourth VISP project, VSIP Hai Phong, also an integrated township and industrial park. In 2012, Sembcorp signed an agreement for a fifth project in Vietnam, VSIP Quang Ngai, and in 2015, their sixth and seventh VSIPs - VSIP Hai Duong and VSIP Nghe An.<ref>{{Cite web|last=hermes|date=2015-09-17|title=7th Vietnam-S'pore industrial park takes off|url=https://www.straitstimes.com/business/property/7th-vietnam-spore-industrial-park-takes-off|access-date=2020-09-24|website=The Straits Times|language=en}}</ref> In 2019, Sembcorp signed a joint venture agreement with [[Becamex IDC|Becamex IDC Corporation]] and VSIP.<ref>{{Cite web|last=hermes|date=2019-09-25|title=Sembcorp unit in tie-up to bring smart energy solutions to Vietnam|url=https://www.straitstimes.com/business/companies-markets/sembcorp-unit-in-tie-up-to-bring-smart-energy-solutions-to-vietnam|access-date=2020-09-24|website=The Straits Times|language=en}}</ref>

===Bangladesh===

In 2019, Sirajganj Unit 4 combined-cycle gas turbine power plant, Sembcorp’s first thermal power plant in Bangladesh, commenced full commercial operation.<ref>{{Cite web|last=www.ETEnergyworld.com|title=Sembcorp’s first thermal power plant in Bangladesh begins full operation - ET EnergyWorld|url=https://energy.economictimes.indiatimes.com/news/power/sembcorps-first-thermal-power-plant-in-bangladesh-begins-full-operation/69561524|access-date=2020-09-25|website=ETEnergyworld.com|language=en}}</ref>

===Indonesia===

Sembcorp was appointed by the Singapore government in the 1990s to develop its first bilateral [[Special economic zone|special economic zones]], the 320-hectare [http://batamindoindustrial.com/#/ Batamindo Industrial Park], on the Riau Island of [[Batam]], and the 270-hectare Bintan Industrial Estate, on [[Bintan Island]]. Sembcorp is now developing the Kendal Industrial Park in [[Central Java]].<ref>{{Cite web|last=hermes|date=2018-02-20|title=S'pore invited to develop 3 Indonesian zones|url=https://www.straitstimes.com/asia/se-asia/spore-invited-to-develop-3-indonesian-zones|access-date=2020-09-25|website=The Straits Times|language=en}}</ref>

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