Keppel Corporation

Keppel Corp posts 25.5% drop in FY19 earnings to $707 mil on absence of one-off gains, proposes 20% lower final dividend of 12 cents per share

SINGAPORE (Jan 23): Keppel Corporation saw its earnings jump 41.5% to $191.4 million for 4QFY2019 ended December 2019, from $135.3 million a year ago.

However, this was not enough for the conglomerate to report a drop in its full year results.

FY2019 earnings fell 25.5% to $707.0 million, from $948.4 million a year ago, largely due to the absence of one-off gains from the en-bloc sales of development projects and property divestments in FY2018.

Keppel unit wins contracts worth $18 mil to supply technology solutions for India waste-to-energy plants

SINGAPORE (Jan 20): Keppel Corporation announced Monday it has secured contracts worth over 12 million euro ($18 million) to supply waste-to-energy (WTE) technology and services in India.

The contracts were awarded by Gujarat-based Abellon Clean Energy to Keppel Seghers Belgium NV, a wholly-owned subsidiary of Keppel Infrastructure Holdings, which, in turn, is a wholly-owned subsidiary of Keppel Corp.

Keppel Seghers will provide the core equipment, design, and technical services for the plant’s air-cooled grate and vertical boiler.

Keppel Bay Tower to become first commercial development in Singapore to be fully powered by renewable energy

SINGAPORE (Dec 29): Keppel Bay Tower will be the first commercial development in Singapore to utilise renewable energy to power all its operations, including the offices of tenants in the building, Keppel Corporation announced on Dec 29.

Keppel Corp’s property arm, Keppel Land, which owns and operates the building, will be installing an assembly of photovoltaic (PV) panels spanning about 400 sqm on the roof of the 18-storey Keppel Bay Tower, as well as its six-storey podium block.

This will reduce the building’s reliance on grid power, the group says.

6 top capital goods picks as sector stages earnings rebound

SINGAPORE (Dec 26): Capital goods – which are used in producing other goods, rather than being bought by consumers – are on the cusp of a “strong recovery” in earnings growth, market watchers say.

CGS-CIMB Research and RHB Group Research both have “overweight” ratings on the capital goods sector.

Notably, RHB has “buy” calls on all six capital goods counters under its coverage, including the three large-cap offshore and marine (O&M) stocks.

In particular, RHB lead analyst Leng Seng Choon favours Keppel Corporation as the top O&M pick.

Keppel Land to acquire 49% stake in JV for $78 mil to co-develop integrated township in Mumbai

SINGAPORE (Dec 16): Keppel Land will be acquiring a 49% stake in joint venture company Kapstone Constructions for INR 4.09 billion ($78.2 million) to jointly develop the 51.4-hectare Urbania integrated township in Mumbai, India.

The joint venture will see Keppel Land, the property arm of Keppel Corporation, partner with leading Indian developer Rustomjee Group.

Since its launch in 2006, the Urbania township has housed 2,700 residential units.

Keppel Infrastructure forays into European energy market with $80 mil investment in MET Group

SINGAPORE (Dec 5): Keppel Infrastructure Holdings, the infrastructure arm of Keppel Corporation, is investing €53.02 million ($80 million) for a 20% stake in MET Holding AG, an integrated European energy company headquartered in Switzerland.

The two companies will also enter into a strategic partnership to jointly explore investment opportunities focussing on European energy infrastructure assets.

One of the largest independent energy suppliers in Central and Eastern Europe, MET Group supplies natural gas and electricity to a diverse portfolio of customers.

Could Temasek's $4.1 bil bid for Keppel herald an industry consolidation?

SINGAPORE (Oct 22): Investors are jumping on the opportunity to capitalise on Keppel Corporation, as Temasek Holdings moves to raise its stake in the conglomerate, with the prospect of a “comprehensive strategic review”.   

On Monday, Temasek Holdings announced a partial offer to acquire an additional 30.55% of shares in Keppel through its wholly-owned subsidiary, Kyanite Investment Holdings. If successful, Temasek and Kyanite will own a combine 51% of shares in Keppel on completion. 

Temasek moves to raise stake in Keppel Corp to 51% with partial offer at $7.35 per share

SINGAPORE (Oct 21): Temasek Holdings is moving to increase its stake in Keppel Corporation to 51%, and undertake a “comprehensive strategic review” of its businesses.

Temasek already currently directly owns 20.45% of Keppel. And it is now making a partial offer, through indirect wholly-owned subsidiary Kyanite Investment Holdings, to acquire an additional 30.55% of shares in Keppel at $7.35 each.

This will result in Temasek and Kyanite directly owning 51% of shares in Keppel.

CGS-CIMB buoyant on Keppel, SembMarine following news of Sete Brasil settlement

SINGAPORE (Oct 8): CGS-CIMB Research is keeping its “overweight” rating on the offshore & marine sector, following news that creditors – including Keppel Offshore & Marine (Keppel O&M) and Sembcorp Marine (SembMarine) – have finally reached a settlement with Sete Brasil.

Keppel reaches settlement with Sete Brasil on semisubmersible drilling rigs

SINGAPORE (Oct 7): Keppel Offshore & Marine (Keppel O&M) has finally reached a settlement with Sete Brasil over the long outstanding issue surrounding the construction of six semisubmersible drilling rigs.

Keppel O&M announced Monday that wholly-owned subsidiaries Fernvale and FELS Offshore have entered into a settlement agreement with subsidiaries of Sete Brasil, including Urca, Frade, Bracuhy, Portogalo, Mangaratiba and Botinas.

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