On Dec 1, Sembcorp Marine issued a profit guidance saying that it expects a net loss for the last quarter of this year and a significant decline in the profits. After the news, the price of Sembcorp Marine and Sembcorp Industries has dropped and they are currently at $1.88 and $3.10 respectively.
Previously I was already thinking of buying into Sembcorp as it seemed quite good (wasn't too sure at the time) but with the recent drop in the price I decided to pick up a few lots. I guess it was sort of expected that Sembcorp Marine will not be doing very well but with the utilities making up the majority of the net profit for Sembcorp Industries, I think it should be able to tide over this rougher period.
If you have enjoyed this post and would like to receive notifications on new posts, you can subscribe to my blog via email or like this blog's Facebook page
If you have enjoyed this post and would like to receive notifications on new posts, you can subscribe to my blog via email or like this blog's Facebook page
Good move!
ReplyDeleteBe Greedy When Others are Fearful :)
Be greedy too early also would end up in fear too.
ReplyDeleteHi,
DeleteThat's possible too, but the price seems quite good from my own analysis of the company, hope it's a good decision