Lifetime Membership After conquering SGX in 2023, Sembcorp Industries share price looked out of sorts in 2024. Year-to-date, the counter has declined about 3.4%. Whilst the decline is not significant enough to warrant a concern, it appears that Sembcorp Industries share price has lost its all-conquering form of 2023 as the counter peaked at $5.80 in early February of 2024. Is this the beginning of the end for the leading energy and urban solutions provider?
The fantastic form of Sembcorp Industries share price should be credited to Group CEO, Wong Kim Yin, who joined the Group in July 2020. During his short tenure, CEO Wong has been instrumental in transforming Sembcorp Industries’ fortune post-demerger from Sembcorp Marine. Since the fateful demerger, Sembcorp Industries share price had gone from strength to strength, surging from $1.20 in September 2020 to the current $5.20 level.
The solid form of Sembcorp Industries share price in the past three years should be attributed to the Group’s ability to reinvent itself successfully as a renewable player. As such, some shareholders may be puzzled at the bearish of Sembcorp Industries share price in 2024. After all, there are no signs of any dark clouds on the horizon. So what could have punctuated the form of Sembcorp Industries share price?
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