Keppel Corp

Infrastructure

Keppel investors flee stocks, bonds after failed Temasek deal

Shares of Keppel Corp. sank the most since November 2008 after a unit of Singapore state-backed investor Temasek Holdings scrapped its bid to take control of the oil-rig builder.

Broker's Calls

Analysts mixed on Keppel after Temasek withdraws partial offer

Analysts are divided on Keppel Corp following Temasek Holdings’ withdrawal of its partial offer of a 30.55% stake in the conglomerate.

M&A

Temasek will not proceed with partial offer for Keppel Corp

On Aug 10, Temasek Holdings announced it has decided that it will invoke the material adverse change (MAC) pre-condition, and accordingly, the Partial Offer will not proceed.

Offshore & Marine

Pre-conditions for Temasek’s partial offer for Keppel Corp not satisfied

On Aug 1, Keppel Corp announced that Temasek Holdings will disclose as soon as it makes a decision, and no later than Aug 31, if the latter intends to invoke the material adverse change (MAC) claus

Results

Impairment of $930 million causes $537 million net loss for Keppel Corp in 1H2020, calls into question Temasek’s partial offer

Keppel Corp reported a net loss of $537 million for 1H2020, reversing a net profit in 1H2019 of $356 million.

Company in the news

Temasek’s portfolio value, returns slip on Covid

Like many companies around the world, Temasek Holdings was not spared from the impact brought by the Covid-19 pandemic.

OIL & GAS

KrisEnergy’s long suffering bondholders unhappy with proposals second restructuring since 2016

SINGAPORE (July 15): On June 19, KrisEnergy put up some proposals for discussion with its creditors.

Broker's Calls

RHB shrugs off prolonged O&M downturn, keeps ‘buy’ on Keppel, Sembcorp, Sembmarine

SINGAPORE (July 8): Despite the prolonged downturn in the offshore and marine (O&M) sector, RHB Securities continues to be “overweight” on the sector.

Broker's Calls

O&M sector could take beyond two years to recover: UOBKH

SINGAPORE (June 29): The offshore and marine (O&M) sector, which has experienced a prolonged downturn since the 2014 crash in crude oil prices, is unlikely to see a recovery any time soon.

In print this week

Conscious decoupling

Sembmarine will no longer be a drag on parent Sembcorp Industries after a rights issue and demerger. Can the offshore unit recapture its glory days?

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