Singapore, Jan 23, 2026, 15:40 SGT — Regular session
- Sembcorp Industries shares edged higher by 0.3%, reaching S$5.99 in mid-afternoon trading
- The shareholder vote tied to the Alinta Energy deal is scheduled for Jan 30 and has drawn intense focus.
- Key upcoming dates include the proxy deadline on Jan 27, with FY2025 results due by Feb 25
Sembcorp Industries Ltd shares edged up on Friday, bucking the choppy Singapore market. Investors positioned themselves ahead of a shareholder vote on the group’s proposed Alinta Energy deal. The stock ticked up 0.34% to S$5.99, trading within a range of S$5.97 to S$6.05. 1
The deal now moves into its “administrative” phase as shareholder questions wind down and the proxy deadline approaches next week. On Wednesday, retail investor group SIAS held an online session featuring Sembcorp’s CEO Wong Kim Yin and group CFO Eugene Cheng. 2
The broader market remained firm, lending some support. Singapore’s benchmark Straits Times Index hit a fresh peak on Friday, boosted by record gains in key banks, traders said. 3
Risk appetite in the region rose after the Bank of Japan chose to keep rates unchanged, lifting Asian stocks and nudging the yen slightly lower. 4
Sembcorp faces a crucial test on Jan. 30, with shareholders scheduled to vote on the proposed acquisition at an extraordinary general meeting in Singapore, according to the company’s event notice. 5
In a December investor presentation, Sembcorp outlined Alinta as a vertically integrated gas and electricity provider in Australia, with 3.4 GW of installed and contracted generation capacity. The acquisition will be supported by a fully committed A$6.5 billion bridge facility, requiring no equity raise. Sembcorp aims to complete the deal in the first half of 2026, subject to shareholder and regulatory approvals. The company also said it will seek clearance from Australia’s FIRB and the ACCC. 6
Traders are watching for responses to shareholder questions ahead of the proxy deadline. These disclosures might ramp up debate over price, leverage, and the refinancing schedule for the bridge funding.
The risks are obvious: shareholders may push back, regulators could stall, and if credit spreads widen, financing might appear less secure. A drop in power prices or tougher scrutiny on transition optics could shake the stock ahead of the vote.
Investors are looking past the EGM, as Sembcorp is scheduled to report its FY2025 results on Feb. 25. This update is expected to shed more light on cash flow and balance-sheet flexibility before the acquisition timeline unfolds. 7
