SembCorp Marine privatisation

SembCorp Industries’ decision to de-list shipyard subsidiary SembCorp Marine from the Singapore Stock Exchange is the latest act in Singapore’s yard restructuring saga – and another nail in the coffin of public equity for Asian shipowners.

Many commentators see the move as precursor to the merger of SembCorp and Keppel Corporation’s yard interests creating a single mega-yard in Singapore.

Temasek Holdings, the Singapore government holding company and the major shareholder in both SembCorp and Keppel, published a new charter earlier this month, proposing that government-linked companies (GLC s) should restructure along industry- focussed lines.

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