CIMB keeps Outperform call for Sembcorp stock

Published on 10/07/2026 at 05:17 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Sembcorp stock saw first-half revenue rise 28.00 percent to SGD 3.80 billion. Its prior close was EUR 4.08 on October 5, 2026.

Sembcorp, SG1R50925390, Illustration mit AI erstellt.

Sembcorp stock (ISIN SG1R50925390) is being assessed against an Outperform call from CIMB, as The Edge Malaysia reported on October 5, 2026. The report also points to a longer wait for earnings from Sembcorp's India expansion, making execution and cash generation central to the investment case.

Revenue rises as profit falls

According to Yahoo Finance on September 15, 2026, revenue in the first half of 2026 rose 28.00 percent year over year to SGD 3.80 billion. The same period brought a 25.00 percent decline in underlying net profit to SGD 369.00 million, while reported net profit fell 72.00 percent to SGD 150.00 million.

The contrast matters because the revenue increase did not translate into comparable profit growth. Yahoo Finance also reported that energy operations generated underlying net profit of SGD 285.00 million, down 14.00 percent, while renewables contributed SGD 69.00 million, down 48.00 percent, in the first half of 2026.

Dividend growth meets cash pressure

Sembcorp raised its interim dividend to SGD 0.11 per share for the first half of 2026, up 22.00 percent from SGD 0.09 per share a year earlier, according to Yahoo Finance. Operating cash flow was SGD 319.00 million, down 53.00 percent from SGD 672.00 million, and free cash flow was negative SGD 38.00 million in the same period.

That combination gives the dividend its clearest test: payout growth is running ahead of operating cash generation. The article also puts net debt at SGD 13.90 billion, including SGD 5.70 billion due within three years, a balance-sheet factor that can limit flexibility while renewable projects require capital.

SGX price stays below yearly high

The primary SGX quote was SGD 5.93 on October 7, 2026 at 11:04 a.m. SGT while the exchange was open. That price was 17.64 percent below the 52-week high of SGD 7.20 and 13.60 percent above the 52-week low of SGD 5.22, keeping the valuation discussion tied to both earnings recovery and execution risk.

Sembcorp's prior close at Lang & Schwarz was EUR 4.08 on October 5, 2026. The further course of trading is shown by the continuously updated real-time quote of Sembcorp stock.