Sembcorp Industries Ltd: Major Corporate Moves in Second Half of 2025

Singapore, February 25, 2026 – Sembcorp Industries Ltd (“Sembcorp” or “the Company”), along with its subsidiaries (collectively, the “Sembcorp Group”), has released a comprehensive announcement detailing several significant corporate actions for the second half of 2025. These actions, including the incorporation of new subsidiaries, joint ventures, acquisitions, divestments, and changes in shareholding, are highly relevant for shareholders and could have implications for Sembcorp’s future growth and share price.

Key Highlights

• Rapid Expansion of Subsidiaries and Joint Ventures:
  • Sembcorp incorporated multiple subsidiaries across Singapore, Australia, Vietnam, Indonesia, Philippines, and UAE. These entities are strategically positioned in areas like investment holding, energy generation, leasing, and renewable energy.
  • Notable new subsidiaries include Sembcorp Energy Australia Holding Pte. Ltd. and Sembcorp Integrated Hub Bac Ninh II Company Limited (with significant capital of VND268.91 billion, approx. S\$13.2 million), indicating increased focus on energy and industrial hub development.
  • Vietnam operations saw major investments in new entities for leasing factories, offices, warehouses, and storage, with capital outlays ranging from S\$7.6 million to S\$20.9 million.
  • In Indonesia, Sembcorp entered the renewable energy sector with PT Sembcorp Bomba Energy Nusantara (60% stake, IDR10 billion capital).
  • Philippines saw the creation of Sembcorp Energy Solutions Inc., set to own and operate a 50MW Battery Energy Storage System (BESS) facility.
  • UAE presence was strengthened via Semb Middleeast FZCO for headquarters services and investment activities.
• Strategic Acquisitions:
  • Acquired 20% stake in Sembcorp Gulf Pte. Ltd. and subsidiaries, including solar and renewable project companies in Oman, for S\$1 (net book value USD12.53 million, approx. S\$16.2 million).
  • Acquired 49% of Starmason Joint Stock Company (Vietnam, VND24.5 billion, approx. S\$1.2 million) and 73.16% of Phu Thanh My Joint Stock Company Limited (Vietnam, VND454.8 billion, approx. S\$22.1 million). These moves mark a substantial expansion of Sembcorp’s industrial real estate and renewable capacity in Vietnam.
  • Acquisition of Lianzhou Yangfeng Wind Power Co., Ltd. (China, 100% stake, RMB152 million, approx. S\$27.4 million) strengthens Sembcorp’s renewable energy portfolio in China.
  • Acquired Green Infra Sun Bright Private Limited (India, 100% stake, INR7.34 billion, approx. S\$102.8 million), a major play in India’s renewable energy sector.
• Significant Divestment:
  • Sembcorp completed the divestment of Sembcorp Qitaihe Water Co., Ltd. (China, 90.91% stake) for RMB91.2 million (approx. S\$16 million), with a net book value of RMB40.4 million (approx. S\$7.1 million). The large divestment premium could improve Sembcorp’s capital efficiency and balance sheet.
• Change of Interest in Subsidiaries:
  • Slight reduction in shareholding in Green Infra Wind Power Generation Limited (India) by 0.27%, now at 69.52%. The disposal yielded INR144,000 (approx. S\$2,016), with net book value INR432,655 (approx. S\$6,057). This move is minor but signals active portfolio management.

Potential Impact and Shareholder Considerations

• Sembcorp’s aggressive expansion into renewable energy markets in Asia-Pacific, coupled with acquisitions in China and India, positions the company for robust growth in the clean energy sector.
• The high-value divestment in China could signal improved capital allocation and focus on higher growth assets, potentially enhancing shareholder value.
• The establishment of new subsidiaries in Vietnam, Indonesia, and Philippines indicates a strong push into industrial real estate and renewable energy, sectors expected to see significant growth.
• The acquisitions and new ventures could be price-sensitive, as they represent material changes to Sembcorp’s asset base and future earnings potential.

Conclusion

Sembcorp Industries Ltd has made several strategic moves in H2 2025, including expansion across key Asian markets, material acquisitions in renewables and industrial real estate, and a substantial divestment in China. These actions are likely to impact future earnings, asset profile, and potentially the share price. Investors should monitor these developments closely for further updates and implications.

Disclaimer: This article is for informational purposes only and does not constitute financial advice or a recommendation to buy or sell any securities. Investors are advised to conduct their own research and consult with their financial advisors before making any investment decisions.

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