Sembcorp to take on strategic review; Q1 profit up 11.3%

Singapore

SEMBCORP Industries will be undertaking a strategic review of its business, its new chief executive officer Neil McGregor said on Wednesday as the firm announced an 11.3 per cent year-on-year rise in net profit for the first quarter of this year.

The review, to be conducted over the next six months, will examine Sembcorp's business model and strategic direction in view of the changing global economy and the disruption taking place in many sectors, said Mr McGregor.

It will focus on three areas: improving performance through cost discipline and strengthening operations; ensuring that its businesses are sustainable and can maximise risk-adjusted returns for the long term; as well as creating value for shareholders …