Keppel Corp (Keppel)

Keppel said to consider Shanghai tower purchase
(Mar 25): An arm of Singapore’s Keppel Corp. is considering buying twin buildings on the banks of Shanghai’s Huangpu River from Dalian Yifang Group Co., people familiar with the matter said. The property, known as Shanghai Yi Fang Center, could fetch more than 4 billion yuan ($805 million), according to the people. Keppel is discussing the deal through its asset-management unit Keppel ...
Keppel wins US$425 mil repeat order from Awilco for semisub rig
SINGAPORE (Mar 9): Keppel Offshore & Marine (Keppel O&M), through its subsidiary Keppel FELS, has secured an order with Awilco Drilling for the construction of a repeat mid-water semisubmersible drilling rig for harsh environment use, worth about US$425 million ($577 million). This follows the exercise of an option by Awilco under the earlier contract entered into between Keppel FELS ...
SGX shipbuilders could gain from merger of world's 2 largest yards
SINGAPORE (Feb 4): The integration between Korean mega shipbuilders Hyundai Heavy Industries (HHI) and Daewoo Shipbuilding & Marine Engineering (DSME) spells good news for Singapore-listed shipyards. That’s because with the consolidation, Sembcorp Marine (SMM), Keppel Offshore & Marine (KEP O&M) and Yangzijiang Shipbuilding will get a chance to gain market share in the O&M ...
Accept the offer as outlook still looks murky for M1, says OCBC
SINGAPORE (Jan 31): Keppel Corp and Singapore Press Holdings (SPH), through offer vehicle Konnectivity, and together with concert parties and valid acceptances, have amassed a total stake of 34.41% in M1. A total stake of 50% is needed for the offer to turn unconditional. The offeror also announced that it does not intend to increase the offer price of $2.06/share under any circumstances ...
Singapore's $1.9 bil telco takeover leaves Axiata in a bind
(Jan 30): Malaysian wireless giant Axiata Group Bhd is caught in a bind as it weighs whether to exit its decade-long investment in Singapore operator M1. Axiata, M1’s biggest shareholder, has less than three weeks left to decide whether to tender its stock into a takeover offer valuing the target at $1.9 billion. The Malaysian company held a board meeting last week to discuss the merits of ...
Keppel Land to co-develop up to $470 mil of residential developments in Jakarta
SINGAPORE (Dec 6): Keppel Land is jointly developing residential projects in Greater Jakarta with an investment value of up to IDR 5 trillion ($470 million).with Indonesian developer PT Metropolitan Land Tbk. Under the agreement, Keppel Land and Metland will each inject an equal amount of capital for joint residential projects which will be operated and owned by the latter. Wholly-owned ...
Keppel kept at 'buy' despite termination of $165 mil rig contract
SINGAPORE (Nov 21): CGS-CIMB Securities is keeping Keppel Corp at “buy” despite Keppel FELS having entered into a settlement agreement with an unnamed oil and gas services company to terminate a $165 million contract for integration works done on a rig. According to Keppel, the project was said to be 30% completed and Keppel FELS has been fully compensated. In a recent report, CGS-CIMB ...
SPH and Keppel in $2.06/share offer to privatise M1; Keppel seeking to privatise Keppel T&T with $1.91/share offer
SINGAPORE (Sept 27): Keppel Corporation and Singapore Press Holdings, through a jointly held offeror Konnectivity, is making a pre-conditional voluntary general offer for M1. Keppel and SPH say the offer to gain majority control will “help drive business changes in M1 and enable M1 to compete more effectively in the telecommunications industry.” The offer price for each M1 share is ...
Keppel kept at 'buy' with $9 target price as safe proxy to ride O&M recovery
SINGAPORE (July 20): DBS Group Research continues to favour Keppel as a safer proxy to ride the O&M (Offshore & Marine) recovery, given its multi-pronged businesses. Reiterate “buy” with target price tweaked to $9.00 or 1.3 times FY18F book value. Keppel’s 1H18 results were boosted by property en bloc sales and Nassim Woods revaluation gain. On top of 10 cents interim dividend, ...
Forget Iran, watch Iraq for impact on O&G stocks: OCBC
SINGAPORE (May 9): US President Donald Trump announced last night in Washington he will withdraw the US from an Obama-era nuclear agreement with Iran. Going against advice from European allies, Trump said he would reimpose economic sanctions that were waived when the deal was signed in 2015. Although the latest development could lend support to crude oil prices, OCBC analyst Low Pei Han ...