Hot stock: Sembcorp shares down 5% after flagging S$245m impairment

As a result, Sembcorp said its energy business is expected to make a net loss for Q4, but believes it will be profitable for the full year. The energy business would have outperformed FY2018's performance if the exceptional items including the impairment are excluded.

DBS analyst Ho Pei Hwa noted:"While SCI is already trading at a steep discount to book at 0.6 times against 5-6 per cent return on equity and 2 per cent yield, recent incidents have dampened confidence on acquisition growth and its earnings recovery outlook. Going forward, Ms Ho believes the recovery of Sembcorp's India operations, its marine business as well as execution in emerging markets are key catalysts to restore investor confidence.

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