Recently, I was puzzled that SembMar and KepCorp prices does not seem to correlate with Crude Oil prices. On further investigation, I chanced upon this imaginative report while going through some analyst reports.
To save you time in reading this report, let me summarize the 3 possible scenarios:
- Possibility of merger of Kep O&M and SMM
- Divestment of SembMar could unlock value for SembCorp shareholders
- Keppel may inject infrastructure asses into SembCorp
By the way, DBS Research has buy ratings for all 3 companies :
- Keppel Corp at TP $7.60
- SCI at TP $4.10
- SMM at TP $2.30
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