Making utilities a pillar in Sembcorp
Sembcorp Industries' CEO Tang Kin Fei has played an instrumental role over the past 2 decades. By LEE MEIXIAN
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
SOME 20 years ago, Sembcorp Industries, a heavyweight in Singapore's utilities sector and a blue-chip conglomerate, didn't actually have a utilities business. Today, utilities, comprising energy, water, solid waste management and on-site logistics, contributed $450 million in 2013 net profit - more than half the $820 million total net profit reported that year.
Moreover, profit from utilities is expected to double in the next five years, on the back of a strong development pipeline of power and water projects in mostly rapidly developing economies.
One person who was instrumental in adding the utilities pillar to the company's then largely marine operations back in 1995 is Sembcorp's present-day group president and CEO Tang Kin Fei.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
