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Strategic review? This new CEO was from Temasek. Will it be trying to do a couple of asset swaps within the Temasek group of companies (eg. with Keppel Corp)?
SEMBCORP 1Q2017 NET PROFIT GROWS 11% TO S$119.1 MILLION
1Q2017 Highlights
Group net profit at S$119.1 million, up 11%
Urban Development delivered a strong quarterly performance of S$37.2 million net profit
Neil McGregor, Group President & CEO of Sembcorp Industries, said, “Sembcorp delivered a reasonable set of first quarter results, underpinned by a good performance from our Urban
Development business. This underscores how our diversified portfolio of businesses gives us some strength and resilience as a Group. “As Sembcorp’s new Group President & CEO, I will be working closely with the board and management to stabilise and strengthen our position in our markets. Over the next few months, we will be undertaking a complete review of our businesses and strategic direction. As we position Sembcorp for the future, our focus will be on performance, sustainability and value creation. We face a challenging macro environment with rapidly changing market dynamics. This requires us to focus on cost discipline and strengthening operating performance. As we reshape Sembcorp, we will continue to build businesses that are durable and sustainable. I am confident that Sembcorp has a distinctive portfolio that will in time deliver long-term value growth for our shareholders.”
SEMBCORP 1Q2017 NET PROFIT GROWS 11% TO S$119.1 MILLION
1Q2017 Highlights
Group net profit at S$119.1 million, up 11%
Urban Development delivered a strong quarterly performance of S$37.2 million net profit
Neil McGregor, Group President & CEO of Sembcorp Industries, said, “Sembcorp delivered a reasonable set of first quarter results, underpinned by a good performance from our Urban
Development business. This underscores how our diversified portfolio of businesses gives us some strength and resilience as a Group. “As Sembcorp’s new Group President & CEO, I will be working closely with the board and management to stabilise and strengthen our position in our markets. Over the next few months, we will be undertaking a complete review of our businesses and strategic direction. As we position Sembcorp for the future, our focus will be on performance, sustainability and value creation. We face a challenging macro environment with rapidly changing market dynamics. This requires us to focus on cost discipline and strengthening operating performance. As we reshape Sembcorp, we will continue to build businesses that are durable and sustainable. I am confident that Sembcorp has a distinctive portfolio that will in time deliver long-term value growth for our shareholders.”