Keppel Corporation

Keppel secures $130 mil worth of contracts from repeat customers

SINGAPORE (July 16): Keppel Offshore & Marine announced that its wholly-owned subsidiaries Keppel FELS and Keppel Shipyard have secured contracts from repeat customers worth about $130 million for a newbuild dredger and the modification of a Floating Production Storage and Offloading vessel (FPSO).

The first contract was awarded to Keppel FELS by Van Oord to build a high-specification Trailing Suction Hopper Dredger (TSHD). This follows from an option granted to Van Oord based on earlier contracts entered in May 2018 for two similar dredgers.

Keppel Data Centres buys into Luxembourg startup with $22 mil investment

SINGAPORE (June 3): Keppel Data Centres has invested €14 million ($21.5 million) in the Series C funding of Etix Group S.A. (Etix), giving it a minority stake in the Luxembourg-based data centre developer and provider of data centre colocation services.  

Etix leverages prefabricated data centre modules for quick data centre deployment and has built up a network of 12 edge and high-performance computing data centres across Europe, Africa, Latin America and Southeast Asia.

Keppel-Aibel consortium wins contract for converter stations

SINGAPORE (May 7): Keppel FELS, a subsdiary of Keppel Offshore & Marine (Keppel O&M), in a consortium with Aibel AS, has secured a contract from TenneT Offshore, a grid operator in the Netherlands and Germany.

Under the contract, Keppel FELS will design, construct, install and commission a 900MW offshore high voltage direct current (HVDC) converter station and an onshore converter station.

Keppel FELS’ share of the contract is worth about $560 million.

Keppel asset management unit acquires 3 commercial buildings in Seoul for $510 mil

SINGAPORE (April 29): Keppel Capital Holdings, the asset management arm of Keppel Corporation Limited, says its Alpha Asia Macro Trends Fund III (AAMTF III) is acquiring 100% stakes in three Grade ‘A’ freehold commercial buildings in Seoul, Korea, for a total of KRW 430 billion ($510 million).

The portfolio of three commercial buildings comprises Yeouido Finance Tower at the Yeouido business district, Nonhyun Building at the Gangnam business district, and Naeja Building at the Gwanghwamun central business district.

Keppel Corp still a 'buy' as O&M division plans to add headcount for first time in years

SINGAPORE (Apr 23): OCBC Investment Research is keeping its “buy” call on Keppel Corporation and raising its fair value estimate to $7.83, after the offshore and marine (O&M), property, infrastructure and asset management conglomerate turned in a set of 1Q19 results deemed to be in line with expectations.

Keppel Corp saw its earnings fall 39.9% to $202.9 million for the quarter ended March, on the back of the absence of a $289 million gain in 1Q18 arising from the en bloc sale of Keppel Cove in Zhongshan, China.

Keppel Corp posts 40% drop in 1Q earnings to $203 mil on lower one-off gains

SINGAPORE (Apr 18): Keppel Corporation saw its earnings fall 39.9% to $202.9 million for the 1Q19 ended March, from $337.5 million a year ago.

The decline was mainly attributable to the absence of a $289 million gain in 1Q18 arising from the en bloc sale of Keppel Cove in Zhongshan, China.

In 1Q19, the group recorded gains of $174 million from the divestment of a 70% interest in Dong Nai Waterfront City, Vietnam and the re-measurement of previously held interests in M1 at acquisition date

12 stocks that could get a boost from IR 2.0

SINGAPORE (Apr 5): The $9 billion investment to renew and refresh Singapore’s two integrated resorts (IRs) could provide some vibrancy to the domestic economy in the next few years and whip up some optimism in the city-state, says CGS-CIMB Research.

“The economic implication of this transformation will first be felt in the construction sector before having a multiplier effect on the rest of the economy via service-producing industries (jobs creation),” says analyst Lim Siew Khee in a Friday report.

Keppel acquires minority stake in EV battery business for $68 mil

SINGAPORE (April 1): Keppel Corporation, through its wholly-owned subsidiary KepVenture, is investing US$50 million ($67.7 million) for a minority stake in Envision AESC Group.

Maybank remains 'neutral' on telco sector as uncertainty looms

SINGAPORE (Apr 1): Maybank Kim Eng Research remains “neutral” on the Singapore telco sector amid uncertainty over the implication for competition in the industry with M1’s imminent de-listing.

The research house believes StarHub provides the best value and Netlink NBN Trust offers insulation from uncertainty in the wireless segment.

Maybank has “buy” calls on both StarHub and Netlink, with target prices of 93 cents and $2.18, respectively.

Keppel to acquire Yi Fang Tower in Shanghai for RMB 4.6 bil

SINGAPORE (Mar 26): Keppel Corporation is jointly acquiring Yi Fang Tower in Shanghai for a consideration of RMB 4.6 billion ($926 million).

The Yi Fang Tower is a recently completed prime Grade A office and retail mixed-use development located in North Bund. It is made up of two 18-storey office towers and a retail podium, with a total gross lettable area of about 74,400 sqm.

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