Key Developments: Keppel Corporation Ltd (KPELF.PK)
8.74USD
22 May 2013
$0.04 (+0.44%)
$8.70
$8.77
$8.77
$8.74
41,300
978
$9.57
$7.43
Latest Key Developments (Source: Significant Developments)
Keppel Corporation Ltd Announces Joint Venture Agreement With UK Seabed Resources Ltd. And Lion City Capital Partners Pte. Ltd
Keppel Corporation Ltd announced that the Company and wholly owned subsidiary, Ocean Mineral Singapore Holding Pte Ltd (OMS Holding), have on April 19, 2013 entered into a joint venture agreement with UK Seabed Resources Ltd. (UKSRL) and Lion City Capital Partners Pte. Ltd. (Lion City) to form Ocean Mineral Singapore Pte Ltd, a Singapore-incorporated company (OMS). The principal business activities of OMS are obtaining and maintaining licences for, and causing to be carried out, the exploration and harvesting of polymetallic nodules in certain areas of the international seabed. OMS has applied for its first exploration licence with the International Seabed Authority (ISA), established under the United Nations Convention on the Law of Sea, and the application will be considered by the ISA in July this year. OMS Holding will have a 78.1% interest in the shares of OMS while UKSRL and Lion City will be minority shareholders holding the remaining shares of OMS. Full Article
Keppel Corporation Ltd Does Not Declare Dividend
Keppel Corporation Ltd announced that no dividend has been declared for the quarter ended March 31, 2013. Full Article
Keppel Corporation Ltd's Keppel FELS Limited Secures Contract
Keppel Corporation Ltd announced that Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M), a whollyowned company of the Company has secured a contract to construct a KFELS B Class jackup rig, ENSCO 110, from Ensco plc. The construction cost, together with the commissioning, systems integration testing and project management is expected to be approximately USD225 million. Full Article
Keppel Corporation Ltd's Keppel GMTN Pte. Ltd Announces Issue Of USD200,000,000 Floating Rate Notes Due 2020
Keppel Corporation Ltd announced that its wholly-owned subsidiary, Keppel GMTN Pte. Ltd. (the Issuer), intends to issue USD200,000,000 in aggregate principal amount of floating rate notes due 2020 (the Notes). The Notes will be issued under the Issuer's USD2,000,000,000 Euro Medium Term Note Programme established on 31 January 2013 (the MTN Programme). Mizuho Securities Asia Limited has been appointed to act as the sole lead manager for the issue of the Notes. The Notes will be issued at an issue price of 100% of their principal amount and in denominations of USD200,000. The Notes are expected to be issued on 5 April 2013 and are expected to mature on the interest payment date falling in or nearest to April 2020. The Notes will bear a floating interest rate at the rate per annum equal to the sum of 0.89 per cent. and the three-month US Dollar LIBOR rate, payable quarterly in arrear. The Notes may be redeemed in whole or in part at the option of the Issuer at 100% of their principal amount on any interest payment date after the issue date. The payment of all amounts due in respect of the Notes will be unconditionally and irrevocably guaranteed by the Company. The net proceeds from the issue of the Notes will be applied by the Company to fund investments and for general corporate and working capital requirements. Full Article
Keppel Corporation Ltd Says $1.2 Billion Ukraine Rig Deal Off-Reuters
Reuters reported that a $1.2 billion deal has fallen through for Keppel Corporation Ltd to construct offshore drilling rigs for Ukraine's state energy firm, Naftogaz the Singapore company said. Keppel, the world's largest builder of offshore oil rigs, said on December 4, 2012 it had signed a contract with Naftogaz to build two semi-submersible drilling rigs for use in the Azov and Black seas. 'We wish to announce that the contract will not be taking effect, as certain conditions within the timeline set were not met,' Keppel said in a statement. Naftogaz declined to comment on the matter. Full Article
Keppel Corporation Ltd Secures Contract
Keppel Corporation Ltd announced that Keppel FELS Ltd (Keppel FELS), a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M), has secured three contracts worth a combined USD300 million from repeat customers. The contracts are for the construction of a KFELS B Class jackup rig from Star Drilling Pte Ltd, a Singapore - based company promoted by the companies of D.P. Jindal Group; the upgrading of the semisubmersible ENSCO 5006 for Ensco PLC (Ensco); and the upgrading of the semisubmersible Ocean Patriot for Diamond Offshore. The vessel is expected to arrive at the yard in first quarter of 2014 with redelivery in second quarter of 2014, after which it will be chartered to INPEX for work in Australia. Work on Ocean Patriot is expected to commence in June 2013 with redelivery at end 2013. When completed, the semisubmersible will be chartered to Shell for work at the Fram field in the UK North Sea. Full Article
Keppel Corporation Ltd Secures SGD200 Million In Contracts From Repeat Customers
Keppel Corporation Ltd announced that the Company, through its subsidiaries Keppel FELS Brasil S.A. (Keppel FELS Brasil ) and Keppel Shipyard Ltd (Keppel Shipyard) – have secured two contracts worth SGD200 million from repeat customers. Keppel FELS Brasil’s contract is with MODEC and Toyo Offshore Production Systems Pte Ltd (MTOPS), a joint venture company between MODEC, Inc. and Toyo Engineering Corporation (TOYO), to integrate the topside modules of a Floating Production Storage and Offloading (FPSO) unit. This project will be carried out at BrasFELS, Keppel FELS Brasil’s yard in Angra dos Reis, Rio de Janeiro, Brazil. Full Article
Keppel Corporation Ltd Incorporates Caspian Rigbuilders B.V.
Keppel Corporation Ltd announced the incorporation of a new wholly owned subsidiary, Caspian Rigbuilders B.V., in the Netherlands on February 5, 2013. The new company will manage, coordinate and carry out work, services and activities related to and in connection to construction, refurbishment, upgrade, conversion and/or repair of offshore rigs and platforms, other offshore structures and marine vessels. Full Article
Keppel Corporation Ltd's Keppel GMTN Pte. Ltd Announces Establishment Of USD2,000,000,000 Euro Medium Term Note Programme
Keppel Corporation Ltd announced that its wholly-owned subsidiary, Keppel GMTN Pte. Ltd. (the Issuer), has on January 31, 2013, established a USD2,000,000,000 Euro Medium Term Note Programme (the MTN Programme). In connection therewith, Citigroup Global Markets Singapore Pte. Ltd., DBS Bank Ltd., Deutsche Bank AG, Singapore Branch and Goldman Sachs (Singapore) Pte. have been appointed to act as the joint arrangers and dealers of the MTN Programme. Under the MTN Programme, the Issuer may from time to time issue notes in any currency as may be agreed between the Issuer and the dealer(s) for the relevant tranche of notes issued under the MTN Programme (the Notes). The payment of all amounts due in respect of the Notes will be unconditionally and irrevocably guaranteed by the Company. The net proceeds from the issue of each tranche of Notes will be applied by the Issuer for working capital or general corporate purposes of the Company and its subsidiaries, or such other purposes as may be specified in the applicable final terms. Full Article
Keppel Corporation Ltd Incorporates Three Subsidiaries
Keppel Corporation Ltd announced the incorporation of Keppel Capital Holdings Pte. Ltd. that will be engaged in investment holding activity, and Keppel Capital Pte. Ltd. and Keppel Capital One Pte. Ltd. which will be engaged in arranging, syndicating and financing customers purchasing goods and services from Keppel Group. The new subsidiaries were incorporated in Singapore on January 21, 2013. Full Article
STOCKS NEWS SINGAPORE-SingTel dips on broker downgrade
Singapore shares edged down, with Singapore Telecommunications Ltd declining 2 percent after OCBC cut its rating on the sector.
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