Back

Latest Forum Topics / Sembcorp Ind    Last:6.13    -0.08

Post Reply

SembCorp Industries Post Reply Rate topic
tangsookiam1947 Master	14-Oct-2020 19:19        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	UOB Report Meaningful upside in the medium to long term, based on earnings multiples. Looking at SCI&rsquo s utilities comparables in the region, there appears to be meaningful valuation upside in excess of S$3.70 (excluding a holding company discount) if we were to use comparable PE multiples for its three business segments.  The above does not include property development business. tangsookiam1947      ( Date: 14-Oct-2020 18:54) Posted: (Extracted from CIMB report) Deconsolidation of SMM and lower equity base We deconsolidate Sembcorp Marine (SMM) from SCI&rsquo s books to reflect the completion of distribution in specie and demerger. This includes the recognition of S$1.18bn fair value loss in 2H20F due to lower price of SMM shares (S$0.182) vs. the theoretical ex-rights price of S$0.308. Our &lsquo new-entity&rsquo NAV per share stands at S$1.77 for FY20F and S$1.95 for FY21F. Net gearing rises to 1.97x for FY20F due to a lower equity base.  --- We think clearer communication to be a &lsquo more focused&rsquo group could restore investor confidence while restructuring is a medium-term catalyst. Our TP is also adjusted to S$1.95, now based on 1x CY21F group P/BV, in line with the expected improved ROE of c.11.8%.  FATABA      ( Date: 14-Oct-2020 09:59) Posted: Any lost for SMM wld be the last n final time . Debt will also reflect the SMM owned n settle . That is why a updated balance sheet this coming result will b very important  Also how badly the pandemic affected it operation will somewhat be reflected . Dyodd
Useful To Me  Not Useful To Me
tangsookiam1947 Master	14-Oct-2020 18:54        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	(Extracted from CIMB report) Deconsolidation of SMM and lower equity base We deconsolidate Sembcorp Marine (SMM) from SCI&rsquo s books to reflect the completion of distribution in specie and demerger. This includes the recognition of S$1.18bn fair value loss in 2H20F due to lower price of SMM shares (S$0.182) vs. the theoretical ex-rights price of S$0.308. Our &lsquo new-entity&rsquo NAV per share stands at S$1.77 for FY20F and S$1.95 for FY21F. Net gearing rises to 1.97x for FY20F due to a lower equity base.  --- We think clearer communication to be a &lsquo more focused&rsquo group could restore investor confidence while restructuring is a medium-term catalyst. Our TP is also adjusted to S$1.95, now based on 1x CY21F group P/BV, in line with the expected improved ROE of c.11.8%.  FATABA      ( Date: 14-Oct-2020 09:59) Posted: Any lost for SMM wld be the last n final time . Debt will also reflect the SMM owned n settle . That is why a updated balance sheet this coming result will b very important  Also how badly the pandemic affected it operation will somewhat be reflected . Dyodd  tangsookiam1947      ( Date: 14-Oct-2020 09:49) Posted: If I' m not wrong , the upcoming results will also reflect all the accounting losses as mentioned in analysts reports . Not sure the impact of these accounting losses .
Useful To Me  Not Useful To Me
FATABA Supreme	14-Oct-2020 09:59        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	Any lost for SMM wld be the last n final time . Debt will also reflect the SMM owned n settle . That is why a updated balance sheet this coming result will b very important  Also how badly the pandemic affected it operation will somewhat be reflected . Dyodd  tangsookiam1947      ( Date: 14-Oct-2020 09:49) Posted: If I' m not wrong , the upcoming results will also reflect all the accounting losses as mentioned in analysts reports . Not sure the impact of these accounting losses .. FATABA      ( Date: 14-Oct-2020 09:44) Posted: There are a lot of ideas from this forum ....wonder the new CEO is reading lol ?  Anyway, Energy ( esp its SEIL ) is a IPO candidate / its matter of timing  ( Other energy side is mainly in Spore market which at best is flat)  Infrastructure is promising but this is super long term for many of its project Waste mgt etc is on going which shld see a slow but progressing growth .  Just these 3 ares would be tough to truly value SCI as it has business in very diff sectors and market /geography)  I am watching its Q3 result closely as this wld be the first time WITHOUT SMM offcially / mayb it can tell a more serious story .  Dyodd  Happy investing.
Useful To Me  Not Useful To Me
tangsookiam1947 Master	14-Oct-2020 09:49        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If I' m not wrong , the upcoming results will also reflect all the accounting losses as mentioned in analysts reports . Not sure the impact of these accounting losses .. FATABA      ( Date: 14-Oct-2020 09:44) Posted: There are a lot of ideas from this forum ....wonder the new CEO is reading lol ?  Anyway, Energy ( esp its SEIL ) is a IPO candidate / its matter of timing  ( Other energy side is mainly in Spore market which at best is flat)  Infrastructure is promising but this is super long term for many of its project Waste mgt etc is on going which shld see a slow but progressing growth .  Just these 3 ares would be tough to truly value SCI as it has business in very diff sectors and market /geography)  I am watching its Q3 result closely as this wld be the first time WITHOUT SMM offcially / mayb it can tell a more serious story .  Dyodd  Happy investing.  pasttime      ( Date: 13-Oct-2020 21:18) Posted: the price of semb ind depends on how they can create a story and get the necessary fire support to move price up. it is already in the right industry of clean energy.  so next is some listing etc to realise value? ang surely got  a lot of tricks up his sleeve. no vested interest yet.
Useful To Me  Not Useful To Me
FATABA Supreme	14-Oct-2020 09:44        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 0   x 0  Alert Admin	There are a lot of ideas from this forum ....wonder the new CEO is reading lol ?  Anyway, Energy ( esp its SEIL ) is a IPO candidate / its matter of timing  ( Other energy side is mainly in Spore market which at best is flat)  Infrastructure is promising but this is super long term for many of its project Waste mgt etc is on going which shld see a slow but progressing growth .  Just these 3 ares would be tough to truly value SCI as it has business in very diff sectors and market /geography)  I am watching its Q3 result closely as this wld be the first time WITHOUT SMM offcially / mayb it can tell a more serious story .  Dyodd  Happy investing.  pasttime      ( Date: 13-Oct-2020 21:18) Posted: the price of semb ind depends on how they can create a story and get the necessary fire support to move price up. it is already in the right industry of clean energy.  so next is some listing etc to realise value? ang surely got  a lot of tricks up his sleeve. no vested interest yet.
Useful To Me  Not Useful To Me
pasttime Supreme	13-Oct-2020 21:18        pasttime About Contact  Quote this Post!   Yells: "gold silver are real money. not others iou."
x 0   x 0  Alert Admin	the price of semb ind depends on how they can create a story and get the necessary fire support to move price up. it is already in the right industry of clean energy.  so next is some listing etc to realise value? ang surely got  a lot of tricks up his sleeve. no vested interest yet.
Useful To Me  Not Useful To Me
tangsookiam1947 Master	13-Oct-2020 18:18        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	many tks for all the good/solid comments. Historical EPS (without marine sgement) was on average about 20 cents. Coupled this with PE of say 15 (reasonable???), the intrinsic value is about $3. Do we need to apply any discount factor? lawsershare      ( Date: 13-Oct-2020 15:42) Posted: Another Hybrid Innovation... It is possible if we convert half of  Jurong Rock Caverns into Energy storage facilities... St.Maximus      ( Date: 13-Oct-2020 14:15) Posted: If they can find a way to mass market solar energy and store solar energy, this will be the way to go towards greening and profitting. Green profits we shall call it.
Useful To Me  Not Useful To Me
lawsershare Senior	13-Oct-2020 15:42        lawsershare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Another Hybrid Innovation... It is possible if we convert half of  Jurong Rock Caverns into Energy storage facilities... St.Maximus      ( Date: 13-Oct-2020 14:15) Posted: If they can find a way to mass market solar energy and store solar energy, this will be the way to go towards greening and profitting. Green profits we shall call it.
Useful To Me  Not Useful To Me
St.Maximus Supreme	13-Oct-2020 14:15        St.Maximus About Contact  Quote this Post!
x 0   x 0  Alert Admin	If they can find a way to mass market solar energy and store solar energy, this will be the way to go towards greening and profitting. Green profits we shall call it.
Useful To Me  Not Useful To Me
lawsershare Senior	13-Oct-2020 13:07        lawsershare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Solar the new ' king of electricity' as renewables make up bigger slice of supply: IEA https://www.channelnewsasia.com/news/world/solar-the-new-king-of-electricity-as-renewables-make-up-bigger-13271264 Looks like Global potential demand is very bright...
Useful To Me  Not Useful To Me
St.Maximus Supreme	13-Oct-2020 08:29        St.Maximus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Mr Tang, Sir, if I may be bold to say that the assets of Sembcorp Industries are so vast and complex that it would be very difficult to put a simple valuation to the total sum of its assets, unlike say, in property, where we can value based on rentals and the values of other similar properties around it. There are not many such ' similar' examples to compare with Sembcorp assets. How do you ' value' their industrial parks development, for example? As such, perhaps it may be still better to use P/E ratio to assess whether this company is ' cheap' or not. The earnings contribution of each asset to the company is more easily assessable, I think. St.Maximus      ( Date: 13-Oct-2020 07:33) Posted: Dear Mr. Tang, Sembcorp is not a pure utilities company. It should be classified as a multi-industry conglomerate. As such, we cannot use P/B historical valuations for utilities companies in the USA and directly compare these to Sembcorp Industries. Let me think further about a better comparator. For now, I need to send my girl out to school. Stay tuned!
Useful To Me  Not Useful To Me
Checkerman Master	13-Oct-2020 08:05        Checkerman About Contact  Quote this Post!
x 0   x 0  Alert Admin	Will be good if can Hoover between 1.35 to 1.5 until end of 2020 naoshingo      ( Date: 12-Oct-2020 19:55) Posted: Onwards to $1.50.. Slowly...let' s move to $1.50 first... Wonder if it is a Rocket tomorrow...
Useful To Me  Not Useful To Me
ckmpd1 Supreme	13-Oct-2020 07:52        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Conservatively, SCI should reach at least $1.40 today ckmpd1      ( Date: 13-Oct-2020 07:48) Posted: Agree,    St.Maximus      ( Date: 13-Oct-2020 07:33) Posted: Dear Mr. Tang, Sembcorp is not a pure utilities company. It should be classified as a multi-industry conglomerate. As such, we cannot use P/B historical valuations for utilities companies in the USA and directly compare these to Sembcorp Industries. Let me think further about a better comparator. For now, I need to send my girl out to school. Stay tuned!
Useful To Me  Not Useful To Me
Goldfinger Supreme	13-Oct-2020 07:52        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Therefore it is better than a pure utilities company. But cheaper, much cheaper. St.Maximus      ( Date: 13-Oct-2020 07:33) Posted: Dear Mr. Tang, Sembcorp is not a pure utilities company. It should be classified as a multi-industry conglomerate. As such, we cannot use P/B historical valuations for utilities companies in the USA and directly compare these to Sembcorp Industries. Let me think further about a better comparator. For now, I need to send my girl out to school. Stay tuned!
Useful To Me  Not Useful To Me
ckmpd1 Supreme	13-Oct-2020 07:48        ckmpd1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Agree,    St.Maximus      ( Date: 13-Oct-2020 07:33) Posted: Dear Mr. Tang, Sembcorp is not a pure utilities company. It should be classified as a multi-industry conglomerate. As such, we cannot use P/B historical valuations for utilities companies in the USA and directly compare these to Sembcorp Industries. Let me think further about a better comparator. For now, I need to send my girl out to school. Stay tuned!
Useful To Me  Not Useful To Me
St.Maximus Supreme	13-Oct-2020 07:33        St.Maximus About Contact  Quote this Post!
x 0   x 0  Alert Admin	Dear Mr. Tang, Sembcorp is not a pure utilities company. It should be classified as a multi-industry conglomerate. As such, we cannot use P/B historical valuations for utilities companies in the USA and directly compare these to Sembcorp Industries. Let me think further about a better comparator. For now, I need to send my girl out to school. Stay tuned!
Useful To Me  Not Useful To Me
tangsookiam1947 Master	12-Oct-2020 23:01        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://siblisresearch.com/data/price-to-book-sector/ Utilities in USA are valued at 1.87 to 2.32 times their book value.  tangsookiam1947      ( Date: 12-Oct-2020 21:04) Posted: --- Post Removed by User ---
Useful To Me  Not Useful To Me
naoshingo Elite	12-Oct-2020 19:55        naoshingo About Contact  Quote this Post!
x 0   x 0  Alert Admin	Onwards to $1.50.. Slowly...let' s move to $1.50 first... Wonder if it is a Rocket tomorrow...
Useful To Me  Not Useful To Me
tangsookiam1947 Master	12-Oct-2020 18:31        tangsookiam1947 About Contact  Quote this Post!
x 0   x 0  Alert Admin	so the $3 target price for SCI does not include the SCM portion (which is about $1)?   freeme      ( Date: 12-Oct-2020 15:28) Posted: That $3 TP from Philips is based on pre-demerger of SMM. Given the current climate, when you just value SCI at full 1.0x PB, its nearing $1.84 - Fair value. If they can start to give reasonable dividend - 4-5%, likely it will be able to go pass $2. I wont want to shout $3 for the sake of making myself happy. -> long way to go   tangsookiam1947      ( Date: 12-Oct-2020 14:34) Posted: How to get target price of $3?  if Indian energy business is about $1.8bilion , then it is only about $1 ?  current share price is $1.35 + $1 = $2.35 at most ...
Useful To Me  Not Useful To Me
tt1010880 Senior	12-Oct-2020 16:47        tt1010880 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Average up or sell?? https://youtu.be/YNtnNV7yV_A
Useful To Me  Not Useful To Me

                                                         First   < Newer   6521-6540 of 16273   Older>   Last