The last time I have anything to do with Sembcorp Industries (SCI) was when I divested the shares last year back in April 2015 at a price of $4.84 (Link Here). Back then, my main concern was their increasing debt (consolidated) and weakening in their utilities function, along with the relatively fair (not cheap) valuation at about 10.8x PER and EV/EBITDA of 7.9x. I didn’t predict that oil price would come to such level we’ve seen today back then. How fast things have changed today. With the recent news of a major oil crisis, SCI has been dropping furiously and its share price has been languishing at around $2.46 at the moment, almost half from what it is a year ago. Pretty crazy. Some readers have requested me to go through SCI like what I did with Keppel previously. I am not going to ......