Sembcorp Industries shareholders set to meet on 21 May 2020

The energy unit of Sembcorp Group has set a new date for its FY2019 Annual General Meeting.

Sembcorp Industries, the energy unit of Sembcorp, has announced that its annual general meeting (AGM) for the 2019 financial year will now take place on 21 May 2020.

The group’s shares traded flat following the announcement. As at 15:15 SGT on Wednesday 29 April 2020, Sembcorp Industries stocks are trading at S$1.57 per share, based on IG data.

New AGM to be conducted via webcast

The AGM, which was originally scheduled for 22 April 2020, was deferred until further notice in a letter dated 03 April 2020.

The upcoming meeting will be conducted via a webcast at 10:00 SGT, as per the Singapore government’s Covid-19 (Temporary Measures) Act 2020 passed on 07 April.

The temporary regulation enables the Minister for Law by order to prescribe alternative arrangements – including electronic communication – for listed companies in Singapore to conduct general meetings, either wholly or partly.

IG is a world-leading online trading and investments provider for thousands of financial markets. With CFDs, you can buy long or sell short on Sembcorp shares depending on whether you think prices will rise or fall. Start today by opening an IG account.

Shareholder instructions ahead of the AGM

The Notice of AGM and proxy form will be sent to shareholders solely by electronic means via publication on Sembcorp’s corporate website and will also be made available on the Singapore bourse SGX’s website. There will not be printed copies of these documents sent to shareholders.

Due to the current Covid-19 restriction orders in Singapore, shareholders will not be able to attend the AGM in person.

Shareholders may participate at the AGM by: (a) observing and / or listening to the AGM proceedings via live audio-visual webcast or live audio-only stream; (b) submitting questions in advance of the AGM; and (c) appointing the Chairman of the Meeting as proxy to attend, speak and vote on their behalf at the AGM.

Sembcorp Industries Chairman Ang Kong Hua, and Group President & CEO Neil McGregor, will conduct the proceedings of the AGM and address substantial and relevant questions which shareholders would have to submit in advance by 10:00 (SGT) on 18 May 2020.

Shareholders will not be able to ask questions at the AGM live during the webcast or audio-stream.

Shareholders must pre-register for the AGM to enable Sembcorp to verify their status as shareholders. The link to pre-register will be available from 15:00 (SGT) on 30 April 2020 till 10:00 (SGT) on 18 May 2020.

AGM to pass FY2019’s final dividend sum of S$0.05 per share

Some of the routine business resolutions to be passed during this AGM include the declaration of a tax-exempt one-tier final dividend of S$0.03 per ordinary share in respect to the financial year ended 31 December 2019, as well as the approval of Directors’ fees of S$2.5 million for FY2019.

If approved by members, the final dividend sum of S$0.05 per share – which is 25% higher than FY2018’s dividend payout of S$0.04 per share, will be paid on 03 June 2020.

The Register of Members and Share Transfer Books of the Company will be closed on 28 May 2020 to determine members’ entitlements to the proposed dividend.

Special business resolutions to be voted on include: a new performance share plan to be known as the ‘Sembcorp Industries Performance Share Plan 2020’ (SCI PSP 2020); and a new restricted share plan to be known as the ‘Sembcorp Industries Restricted Share Plan 2020’’.

Details of both plans are set out in the company’s letter to shareholders dated 29 April 2020.

Are you bullish or bearish on Sembcorp? Either way, you can buy long or sell short on Sembcorp Industries stocks and other Singapore shares using CFDs and other instruments offered on IG's world-leading trading platform.

Sembcorp severs ties with Hin Leong Trading

Last Wednesday 22 April 2020, Sembcorp Industries revealed that one of its subsidiaries Sembcorp Cogen has severed its ties with debt-ridden oil trading company Hin Leong Trading (HLT).

‘Given the recent news reports relating to HLT and the Moratorium, Sembcorp Cogen has taken steps to protect its interests over the gasoil reserves and had terminated the gasoil supply and storage agreement,’ it had said in a press release.

The carrying book value of the gasoil reserves stored with Hin Leong Trading as at 31 December 2019 was S$94 million.

Following the announcement, Sembcorp Industries’ share price increased 2.7% to S$1.53 per share.

How to trade Singapore stocks with IG

Looking to trade Sembcorp Industries shares and other Straits Times Index (STI Index) stocks? Open a live or demo account with IG and buy (long) or sell (short) the asset using derivatives like CFDs in a few easy steps:

  • Create an IG Trading Account or log in to your existing account
  • Enter <company name> or <ticket code> in the search bar and select it
  • Choose your position size
  • Click on ‘buy’ or ‘sell’ in the deal ticket
  • Confirm the trade

IGA, may distribute information/research produced by its respective foreign affiliates within the IG Group of companies pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the research is distributed in Singapore to a person who is not an Accredited Investor, Expert Investor or an Institutional Investor, IGA accepts legal responsibility for the contents of the report to such persons only to the extent required by law. Singapore recipients should contact IGA at 6390 5118 for matters arising from, or in connection with the information distributed.

The information/research herein is prepared by IG Asia Pte Ltd (IGA) and its foreign affiliated companies (collectively known as the IG Group) and is intended for general circulation only. It does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. You should take into account your specific investment objectives, financial situation, and particular needs before making a commitment to trade, including seeking advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit.

Please see important Research Disclaimer.

Seize a share opportunity today

Go long or short on thousands of international stocks.

  • Increase your market exposure with leverage
  • Get spreads from just 0.1% on major global shares
  • Trade CFDs straight into order books with direct market access

Live prices on most popular markets

  • Forex
  • Shares
  • Indices
liveprices.javascriptrequired
liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 15 mins.

liveprices.javascriptrequired

Prices above are subject to our website terms and agreements. Prices are indicative only. All shares prices are delayed by at least 20 mins.

The Momentum Report

Get the week’s momentum report sent directly to your inbox every Monday for FREE. The Week Ahead gives you a full calendar of upcoming key events to monitor in the coming week, as well as commentary and insight from our expert analysts on the major indices to watch.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage.

You might be interested in…

Find out what charges your trades could incur with our transparent fee structure.

Discover why so many clients choose us, and what makes us a world-leading provider of CFDs.

Stay on top of upcoming market-moving events with our customisable economic calendar.