SIGN UP FOR $10 TO UNLOCK ALL ARTICLES! Christmas certainly comes early for Sembcorp Industries investors as Sembcorp Industries share price surged from $1.17 on 9 September to $1.85 on 4 December. The incredible run of Sembcorp Industries share price followed the epic demerger from the ailing Sembcorp Marine. The deal propelled Sembcorp Industries share price to one of the best, if not the best, performing stocks in SGX mainboard.
Sembcorp Industries is the best stock that I have ever invested in. In late September, I bought 35,000 shares when Sembcorp Industries share price was trading at $1.35. On 7 December, I decided to cash out and clocked in $17,500 of profits. The decision to cash out was not easy because of the good work of CEO Wong Kim Yin.
For sure, CEO Wong Kim Yin hit the ground running. Appointed as CEO only in 1 July 2020, he had overseen the demerger of Sembcorp Marine and quickly pivoted Sembcorp Industries’ business focus in the clean energy sector with a slew of contract wins. As he was the former CEO of Singapore Power, Wong Kim Yin should be the right man for the right job. In this regard, I am convinced Sembcorp Industries share price will continue to do well in 2021.
Usually, I would give a new CEO at least three years to prove his mettle but the impact of Wong Kim Yin’s appointment on Sembcorp Industries share price is nothing short of spectacular. The counter has been climbing steadily for the past few months despite the challenging operating environment caused by COVID-19 pandemic. Apart from DBS’ Piyush Gupta, I could not recollect another CEO of Temasek-linked companies making such impact as Wong Kim Yin.
Will Sembcorp Industries share price carry on its fairy-tale run and hit the $3.00 mark in 2021? And will the new CEO finally unleash the IPO of its Indian asset, Sembcorp Energy India Limited (SEIL) in 2021?
Note that this is an opinion article and not meant to be a financial advice. Please do your due diligence or engage financial advisors before investing in the stock market.
Sembcorp Industries share price in new chapter
In October, the management also implemented a slew of initiatives that helped to push up Sembcorp share price. The first was the redemption of the $1.5 billion bonds due in 2024. The redemption would achieve annual interest cost savings of approximately $25 million to $35 million. Following this news, Sembcorp share price went berserk and surged from $1.55 to hit a high of $1.70.
And then the management surprised the market by [This is a premium article. The rest of the content is blocked and can be accessible by SG Wealth Builder Members only. To read the full content, please sign up as member.]
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