SINGAPORE, Jan 19, 2026, 15:30 SGT — Regular session
Sembcorp Industries shares inched up Monday, staying near the session high as investors eyed the company’s next steps on the Alinta Energy deal. By 3:30 p.m., the stock climbed 3 Singapore cents, about 0.5%, to S$6.15 from Friday’s close of S$6.12. Intraday, the price fluctuated between S$6.09 and S$6.18. 1
The gain stood out on a day when risk assets generally faltered. Singapore’s Straits Times Index dropped about 0.5% earlier, dragging Asian stocks lower after U.S. President Donald Trump threatened new tariffs targeting several European countries, The Straits Times reported.
Sembcorp has set its extraordinary general meeting (EGM) for Jan. 30 to greenlight the proposed deal. CPF and SRS investors need to appoint the meeting chairman as proxy by 5 p.m. Monday, the company’s website says. Questions in advance must be submitted by Jan. 22, and proxy forms have a deadline of Jan. 27. 2
Sembcorp will release its FY2025 earnings on Wednesday, Feb. 25, ahead of the market open, according to a recent filing. 3
In December, Sembcorp announced a deal to buy Alinta Energy for an enterprise value of A$6.5 billion (S$5.6 billion), including debt. The estimated purchase price is around A$5.6 billion, with the company planning to fund the deal in cash using bridge and working capital facilities—short-term loans, essentially. Group CEO Wong Kim Yin called the acquisition one that “gives us a strong position in a key developed market.”
Sembcorp is leaning on Alinta as its entry point into the Australian market, highlighting its nearly 1.1 million customers and 3.4 gigawatts of installed and contracted capacity across coal, gas, wind, and solar. The firm also emphasized Alinta’s sizable 10.4-gigawatt pipeline of renewable and “firming” projects—like batteries intended to stabilize supply when wind and solar output dips. 4
The deal has a clear downside. Taking on Alinta’s coal assets will boost emissions intensity—carbon output per unit of power generated—and throw off Sembcorp’s 2028 target, the company concedes. Yet, management maintains the acquisition is a step toward renewables, not a return to coal. 5
The vote process has tightened. The meeting notice requires questions to be submitted by 5 p.m. on Jan. 22, and responses will be posted at least 48 hours before proxy submissions end. 6
SGXNet filings show the EGM is scheduled for 10 a.m. on Jan. 30, with proxy submissions due by 10 a.m. on Jan. 27. The Alinta deal marks one of Sembcorp’s biggest international bets yet, pushing its expansion deeper into Australia. 7
Two dates are critical: the shareholder vote on Alinta set for Jan. 30, followed by the FY2025 results release on Feb. 25 before markets open, with a webcast briefing scheduled at 11 a.m. Investors are seeking clarity on how Sembcorp plans to fund the deal and how this fits with their emissions goals. 8
