Sembcorp poised to milk gains from new plants

Projects to come onstream from 2014-2016.

According to OSK, Sembcorp Industries will see capacity growth from new plants in Singapore, India, Middle East, China and the UK.

The projects are all on track to come onstream from 2014 to 2016. In the near term, SCI will still see a soft power spread in Singapore while its Yangcheng plant in China will undergo maintenance works in 4Q13.

Here's more:

Tweaking estimates to reflect one-off gains, lower marine earnings. We revise our FY13/14/15F EPS by +7/-5/-7% to reflect the one-off gains and lower earnings from the marine and urban development units.

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