Sembcorp steps up shift from brown to green
The conglomerate, which posts FY20 net loss of S$997m, will reveal details of its renewables growth path in May
Add BT as a preferred source
Singapore
SEMBCORP Industries is stepping up the pace of growing the renewables business now that it no longer needs to conserve cash to prop up its sickly marine unit since its last September split with Sembcorp Marine.
"For awhile, we were very cautious and reluctant to invest significantly - even though we have identified sustainability and renewables as a direction - (just) so we could conserve cash in case we need to support marine. With the demerger, that condition is no longer there," said Sembcorp group president and chief executive Wong Kim Yin.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
As luxury retail goes big, can Singapore’s Orchard Road keep up?
