Latest news with #SenokoEnergy
Reuters
08-08-2025
- Business
- Reuters
Singapore's Sembcorp posts stable interim earnings; hikes dividend
Aug 8 (Reuters) - Singapore's Sembcorp Industries ( opens new tab reported a mostly steady net profit on Friday, as a dip in earnings contribution from its gas and related services segment was offset by a jump in bottom-line performance at the renewables division. The utility company said its net profit for the six-month period ended June 30 was S$536 million ($418.00 million), 1% below the S$543 million recorded a year ago. It declared an interim dividend of 9 Singapore cents per share, higher than the six Singapore cents apiece declared last year. Earnings before exceptional items at the gas and related services business fell 3% due to lower generation spreads in Singapore and the absence of any contribution from the Phu My 3 power plant in Vietnam. These were, however, offset by contributions from Senoko Energy, a power station in Singapore, Sembcorp said. The renewables segment saw a 27% rise in earnings during the first half, reflecting a higher contribution from India operations on better wind resource and improved operational renewables capacity. However, the segment's performance was still impacted by more curtailment and lower tariffs from in certain provinces in China. Its integrated urban solutions arm delivered net profit before exceptional items of S$74 million, slightly higher than S$73 million reported last year. This was backed by higher land sales in Indonesia and higher earnings from the water business in China. The company expects to maintain a sustainable dividend payout in fiscal 2025. "We remain focused on strengthening and growing our businesses to drive Sembcorp's strategic plan towards 2028 and beyond, to deliver increasing value to our shareholders," said Group CEO Wong Kim Yin. ($1 = 1.2823 Singapore dollars)
Japan Times
25-06-2025
- Business
- Japan Times
Marubeni boosts power role in Singapore by raising Senoko stake
Marubeni has raised its stake in Senoko Energy to 50%, after acquiring shares in the Singaporean power generator's holding company. The trading house said in a statement on Wednesday it increased its stake from 30% after buying the shares in Lion Power 2008 from its Japanese co-investors. Financial terms weren't disclosed. Following the acquisition, Marubeni will jointly hold Senoko with Singapore's Sembcorp Utilities. "Marubeni will become more actively involved in the management of Senoko than previously and, together with Sembcorp, will continue to contribute to the stable supply of electricity in Singapore,' it said. Sembcorp had pledged in April to raise its stake in Senoko to as much as 70%, subject to Marubeni's plans. The Japanese investors that sold their stakes to Marubeni were Kyushu Electric Power, Kansai Electric Power and Japan Bank for International Cooperation.
Bloomberg
25-06-2025
- Business
- Bloomberg
Marubeni Boosts Power Role in Singapore by Raising Senoko Stake
Japan's Marubeni Corp. has raised its stake in Senoko Energy Pte to 50%, after acquiring shares in the Singaporean power generator's holding company. The trading house said in a statement on Wednesday it increased its stake from 30% after buying the shares in Lion Power 2008 Pte from its Japanese co-investors. Financial terms weren't disclosed. Following the acquisition, Marubeni will jointly hold Senoko with Singapore's Sembcorp Utilities Pte.
