Less bullish: A Sembcorp Industries Ltd engineer inspects ultraviolet disinfection pipes in a NEWater plant in Singapore. Its stock could face a risk of write-downs in future periods, say analysts. — Bloomberg
SINGAPORE: Equity investors have given Singapore’s Sembcorp Industries Ltd a big thumbs-up this year after it shed its loss-making marine unit. But 2021 may prove to be a lot less euphoric, according to analysts.
The utilities firm is 2020’s top gainer on the benchmark Straits Times Index, after being the worst performer in the preceding five-year period. However, concerns over the economic recovery in some of Sembcorp’s biggest markets are emerging, adding pressure to further gains.
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