It seems that Sembcorp Industries (SGX: U96) could have hit upon something last year when it announced the sale of Sembcorp Marine (SGX: S51) to effectively create two entirely separate entities that will focus on energy and marine. That move may have triggered other Singapore conglomerates to think critically about their own businesses as Keppel Corporation (Keppel Corp) (SGX: BN4), CapitaLand (SGX: C31) and Singapore Press Holdings (SPH) (SGX: T39) all announced large restructuring moves. It may well be that the writing has been on the wall for these four companies for a while now as far as restructuring goes. But where there may have been some latent hesitation to carve out traditional core business units, COVID-19 has thrown any emotional considerations out of the window and applied a lubricant of urgency to facilitate such splits. Return on equity There is a common factor with the four listed corporations,...