Keppel Corporation

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 ...
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 ...
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 ...
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 ...
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 ...
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. Envision AESC Group is an intelligent lithium-ion battery company which is 80:20 owned by China’s Envision AESC Holding and Japanese automobile manufacturer Nissan. It recently acquired Automotive Energy Supply ...
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 ...
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. Eric Goh, CEO ...
More companies beat FY18 expectations this earnings season
SINGAPORE (Mar 5): The earnings season is over for now and more companies have beat their FY18 results expectations than missed, with large-caps mostly boosted by one-off gains, according to CGS-CIMB Research in a Monday report. Analyst Lim Siew Khee says, “We think YTD FSSTI’s outperformance (+7%) was somewhat helped by fewer poor results in the last two months where the beats exceeded ...
Keppel divests 70% interest in Dong Nai Waterfront City for $136 mil
SINGAPORE (Jan 28): Keppel Corporation announced that a wholly-owned subsidiary Keppel Land Limited (KLL), Portsville, is divesting a 70% interest in Dong Nai Waterfront City (DNWC) to Nam Long Investment Corporation for a consideration of VND 2,313 billion ($136 million). DNWC is a company incorporated under the laws of Vietnam and had been granted the right to develop a township in Dong Nai ...