Singapore power sector's weakness now hurt Sembcorp Industries less

Impact to utilities business now only accounts for 16% of profits.

Brokerage firm MayBank KimEng is expecting power oversupply to likely persist till 2018 as Singapore gencos have generally overcommitted to gas supplies. It noted however that the impact to Sembcorp Industries' earnings is only minimal.

According to MayBank KimEng, the impact from the Singapore power segment has greatly diminished since 2013.

It used to account for almost half of SCI utilities’ net profits back then. By 2Q16, this had shrivelled to 16%, which means further weakness should now hurt utilities less, it said.

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