Strategic review news lifts Sembcorp, Sembmarine stocks

Singapore

SHARES of Sembcorp Industries and Sembcorp Marine (Sembmarine) rallied on Thursday, following the announcement of a strategic review by Sembcorp Industries.

Sembmarine surged 9.1 per cent or 15 cents to S$1.79 in heavy trading with some 27.1 million shares changing hands, making it one of the most active counters on the Singapore Exchange.

Shares in Sembcorp Industries, meanwhile, rose 5 per cent or 15 cents to S$3.15.

Sembcorp Industries' new chief executive officer Neil McGregor had said in the company's earnings call on Wednesday that the review, to be conducted over the next three to six months, would examine Sembcorp's business model and strategic direction in view of the c…