Singapore, Jan 24, 2026, 15:25 SGT — Market closed
- On Friday, Sembcorp Industries ended the day 0.34% higher, closing at S$5.99
- Ahead of the January 30 vote on its Alinta Energy deal, the company released responses to shareholder questions
- Key dates ahead: proxy deadline on Jan 27, EGM set for Jan 30, and FY2025 results due Feb 25
Sembcorp Industries Ltd shares closed Friday 0.34% higher at S$5.99, following the utility’s release of responses to shareholder questions on its proposed purchase of Australia’s Alinta Energy. The stock fluctuated between S$5.98 and S$6.05, with roughly 4.0 million shares traded.
In its Q&A filing, Sembcorp called the deal “earnings- and ROE-accretive,” referring to return on equity, a key profit metric against shareholders’ funds. The company said the merged portfolio has “room for further dividend growth.” It also pointed out that Alinta has delivered positive operating cash flow for five straight years. Sembcorp outlined insurance and continuity plans for extreme weather risks but noted ongoing uncertainty in climate modelling. SGX Links
The disclosure arrives with deadlines looming: investors must submit proxy forms by 10 a.m. on Jan. 27, ahead of an extraordinary general meeting on the deal set for Jan. 30, according to an SGX filing.
Sembcorp struck a deal in December to buy Alinta for an enterprise value of A$6.5 billion (S$5.6 billion), including debt. The company plans to pay around A$5.6 billion in cash through bridge and working capital financing. Alinta serves nearly 1.1 million electricity and gas customers and boasts 3.4 gigawatts of installed and contracted generation capacity, according to Sembcorp. The acquisition will push emissions higher in the short term, putting Sembcorp off track for its 2028 emissions-intensity and 2030 absolute-emissions goals. Still, CEO Wong Kim Yin said, “This acquisition gives us a strong position in a key developed market.”
Sembcorp edged up slightly as Singapore stocks gained momentum, with the Straits Times Index finishing 1.3% higher at 4,891.45. The index also hit a fresh intraday peak of 4,895.15.
As SGX remains closed for the weekend, focus turns to whether the company’s return-and-cashflow argument will calm nerves ahead of the vote, or just invite deeper questions about its financing and carbon risks.
The vote remains a clear-cut risk. If shareholders push back more than anticipated, if scrutiny on the coal footprint intensifies, or if approvals in Australia drag on, timelines could slip. That would likely keep the stock stuck near the S$6 mark, even as the wider market rallies.
Sembcorp said it will unveil its FY2025 financial results on Feb. 25 ahead of the market open, setting the stage for a closer look at its guidance on leverage, dividends, and any revised timeline for finishing the Alinta acquisition.
