Singapore, Jan 12, 2026, 15:33 SGT — Regular session
- Sembcorp Industries edged up 0.5% to S$6.02 in afternoon trading, within a day range of S$5.97 to S$6.03
- Keep an eye on shareholder documents expected in mid-January and the vote on the Alinta Energy deal scheduled for the end of January
- Oil ticked up amid concerns over Iranian supply, even as Goldman highlighted potential downside risks for 2026 oil prices
Sembcorp Industries Ltd shares ticked up 0.5% to S$6.02 Monday afternoon, bouncing around a range of S$5.97 to S$6.03 earlier. Singapore’s Straits Times Index gained roughly 0.6%. (Investing)
The stock’s slight shift hides a larger timing challenge. Traders are zeroing in on upcoming milestones tied to Sembcorp’s planned Australian expansion, all while monitoring oil prices and broader risk trends.
Paperwork is now the focus. Sembcorp plans to release the shareholder circular and notice for an extraordinary general meeting—meaning a vote outside the usual annual meeting—by mid-January. The meeting itself is set for late January. The company also confirmed it has secured a fully committed bridge facility, a short-term loan typically used to finance deals before longer-term funding kicks in. (SGX Links)
In December, Sembcorp revealed plans to acquire Australia’s Alinta Energy for an enterprise value of A$6.5 billion. The transaction would bring roughly 1.1 million customers and 3.4 gigawatts of generation capacity spanning gas, coal, wind, and solar. (Reuters)
Oil started the day with a slight boost. Brent crude futures ticked up 5 cents, trading at $63.39 a barrel by 0433 GMT, Reuters reported. Protests in Iran stirred supply concerns, though news from Venezuela weighed on gains. Saul Kavonic, MST Marquee’s head of energy research, told Reuters, “The market is saying show me the disruption to supply before materially responding.” (Reuters)
Goldman Sachs flagged the oil forward curve as a bigger signal for equity investors than current prices. The bank projects oil prices to ease in 2026 amid rising supply, sticking to its average price forecast of $56 for Brent and $52 for WTI. Still, it cautioned that geopolitical tensions could keep volatility alive. (Reuters)
Asian risk assets remained under pressure amid broader macro jitters. Reuters noted the dollar dipped and U.S. equity futures softened following Federal Reserve Chair Jerome Powell’s revelation that the Trump administration threatened him with a criminal indictment, stirring fresh worries over central bank independence. “Trump is pulling at the loose threads of central bank independence,” said Andrew Lilley, chief rates strategist at Barrenjoey. (Reuters)
But the Alinta deal isn’t sealed yet. Investors are waiting on the fine print in the circular, and any hold-ups in approvals or a spike in funding costs could push the market’s limits, especially with a sizable bridge facility looming in the background.
Traders are waiting for the circular to drop and for the company to confirm the meeting date. They’ll also be eyeing any updates on the transition from bridge financing to longer-term debt—and whether market conditions remain steady enough to stick to the timeline.
Sembcorp faces its next major hurdle with the shareholder circular due around mid-January, then the vote slated for late January — a crucial step before the rest of the approval process can move forward.
