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In the context of constantly evolving requirements
of disclosure, transparency and corporate governance,
we aim to provide investors with an accurate,
coherent and balanced account of the Group’s
performance. To do this, multiple communication
platforms are utilised including group briefings to
analysts, investors and the media, one-on-one
meetings with shareholders and potential investors,
investor roadshows and the investor relations section
of our corporate website. In addition, company visits
and facility tours are also organised to help investors
gain better insight into the Group’s operations.
During the year, senior management and the
investor relations team continued to actively maintain
open communication channels with the financial
community. We held over 130 one-on-one and group
meetings with shareholders, analysts and potential
investors. These included non-deal roadshows in major
international financial centres. In Asia, we covered
Singapore and Hong Kong; in Europe, Frankfurt
and London; and in North America, New York,
Boston and Toronto. We also participated in six
investor conferences during the year. In Singapore,
we participated in the DBS Vickers Pulse of Asia
Conference and OSK-DMG Corporate Day in January,
the Deutsche Bank Access Asia Conference and the
CLSA Corporate Access Forum in May, the Nomura
Asia Equity Forum in June, and the Morgan Stanley
Asia Pacific Summit in November. We also organised
site visits to our Utilities operations on Jurong Island to
help give analysts and investors a better understanding
of our capabilities in energy and water.
During the year, Sembcorp Industries was
awarded, for the third year running, the Most
Transparent Company under the multi-industry /
conglomerates category at the Securities Investors
Association (Singapore) Investors’ Choice Awards,
in recognition of our commitment to corporate
governance and transparency.
In July, the company ranked eleventh in
Singapore’s Governance and Transparency Index
out of 660 companies listed locally. Jointly launched
by The Business Times and the NUS Business School’s
Centre for Governance, Institutions and Organisations,
the index assesses the transparency of companies’
financial disclosures as well as governance, ethics and
rigour in financial reporting.
2011 also marked the first year in which
Sembcorp was selected as an index component
of the Dow Jones Sustainability Asia Pacific Index.
The index represents the top 20% of the largest 600
companies in the developed Asia Pacific region based
on long-term economic, environmental and social
criteria. Sembcorp is one of only four Singaporean
companies in this index.
Sembcorp Industries’ share price closed the
year at S$4.05 with a market capitalisation of
S$7.2 billion. The company’s share price averaged
S$4.66 during the year, registering a low of
S$3.32 on October 3, 2011 and a high of S$5.52
on April 25, 2011. Daily turnover in 2011 averaged
3.6 million shares. In May, we paid out a final tax
exempt one-tier dividend of 17 cents per ordinary
share comprising an ordinary dividend of 15 cents
and a bonus dividend of 2 cents.
In a market affected by the Eurozone crisis
and weaker than expected growth from both
developing and high-income countries, Sembcorp
Industries’ total shareholder return recorded a
negative 18%, slightly below the Straits Times
Index’s negative 15%.
In 2011, other than our major shareholder
Temasek Holdings, which held 49.6% of our shares
as at the end of 2011, institutional shareholders
as a group continued to dominate Sembcorp’s
shareholder base. Institutional shareholders
accounted for 35.3% of our issued share capital
or 69.8% of free float. Retail shareholders,
shareholders holding less than 100,000 shares,
and others held the remaining 15.1% of issued
share capital or 30.2% of free float. In terms of
geographical breakdown, excluding the stake held
by Temasek Holdings, Singapore shareholders
accounted for 10% of issued share capital. Our
largest geographical shareholding base was North
America with 13% of issued share capital.
Shareholders from Europe and Asia excluding
Singapore accounted for 11% and 5% of issued
share capital respectively.
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