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Keppel’s results and brightening outlook to support O&M share prices

PC Lee
PC Lee10/27/2017 1:16 PM GMT+08  • 3 min read
Keppel’s results and brightening outlook to support O&M share prices
SINGAPORE (Oct 27): Credit Suisse is maintaining its “overweight” recommendation of Singapore’s Offshore & Marine sector on improving outlook and following Keppel's 3Q earnings surprise.
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SINGAPORE (Oct 27): Credit Suisse is maintaining its “overweight” recommendation of Singapore’s Offshore & Marine sector on improving outlook and following Keppel's 3Q earnings surprise.

In a Thursday report, analyst Gerald Wong expects Sembcorp Marine's operating margin to remain firm compared to that of 4.3% in 2Q17.

In addition, net gearing should be reduced from 1.31 times in June to about 1.25 times, following collection of proceeds of about $220 million from the sale of Cosco Shipyard Group, with scope to decline further in 4Q17 with US$500 million ($684 million) downpayment collected for sale of nine jackups to Borr Drilling.

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