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Keppel Corporation Ltd (KPLM.SI)

KPLM.SI on Stock Exchange of Singapore

29 Jul 2016
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Latest Key Developments (Source: Significant Developments)

Keppel responds to media reports on ongoing investigations on Petrobras
Sunday, 24 Jul 2016 10:20am EDT 

Keppel Corporation Ltd : Refers to testimony given by zwi skornicki on 21 July in connection with Lava Jato investigations . Refute allegations made by Skornicki regarding Keppel's involvement in the illegal payments made by Skornicki .  Full Article

Keppel Corp exec says looking to sell more homes this year
Thursday, 21 Jul 2016 06:45am EDT 

Keppel Corporation Ltd : Keppel Corp exec says looking to sell more homes this year than last year . Keppel Corp exec says could launch 18,000 residential units over the next two and half years . Keppel Corp exec says can look into going into renewable projects in offshore wind .  Full Article

Keppel Corp records 48 pct decline in Q2 net profit
Thursday, 21 Jul 2016 05:22am EDT 

Keppel Corporation Ltd : Second quarter and half yearly results . Q2 revenue s$1.63 billion versus s$2.56 billion a year ago . 2q 2016 net profit down 48% to s$205 million, compared to s$397 million for 2q 2015 . Directors are pleased to declare a tax exempt one-tier interim cash dividend of 8.0 cents per share . Sete Brasil has been working with a financial advisor on its restructuring plan and has filed for judicial recovery . While we wait for more clarity on Sete'S plans, we believe that provision of s$230 million made last year remains appropriate and adequate' . We have excluded Sete's projects from our net orderbook" . Says for HY, Keppel O&M reduced its direct staff strength in Singapore and overseas by 4,900 headcount, or around 16% of its staff . Says our cost-cutting and rightsizing efforts will continue . Says "given the oversupply in the rig market and falling day rates, we do not expect demand for drilling rigs to return soon" . In H2, received requests to defer delivery of three jackups for grupo r and one jackup for parden holdings to next year . "We can look into integrating our engineering resources across the different units in the division" . "If necessary, we may also mothball yards with low work volumes" . Says also exploring opportunities to build jones act vessels in the US .  Full Article

Keppel Corporation Ltd updates on Alpha Investment's collaboration with Keppel Telecommunications & Transportation
Wednesday, 20 Jul 2016 06:06am EDT 

Keppel Corporation Ltd: Alpha Investment collaborates with Keppel Telecommunications & Transportation on US$500 mln data centre fund . Two closed-end private equity funds managed by Alpha, unit of Keppel Capital received initial capital commitments of US$410 million .  Full Article

Keppel enters into joint venture with shell to establish LNG bunkering business
Thursday, 7 Jul 2016 05:27am EDT 

Keppel Corporation Ltd : Joint venture with shell to establish LNG bunkering business . Says shareholding of Keppel and shell in the jvco will be 50% and 50% respectively . Says JVCO will establish a LNG bunkering business in Singapore . KS investments Pte Ltd entered into a shareholders agreement with Shell Eastern Petroleum (pte.) Ltd . Says transaction will not have any material impact on the earnings per share of KCL for the financial year ending 31 December 2016 .  Full Article

Keppel Corp says unit secures marine projects worth S$120 mln
Thursday, 7 Jul 2016 05:14am EDT 

Keppel Corporation Ltd : Keppel offshore & marine secures marine projects worth s$120 million) . Contracts not expected to have material impact on net tangible assets or earnings per share of Keppel Corporation Limited for current financial year . First contract that Keppel shipyard secured is from Bw Catcher Limited . Detailed engineering phase is expected to commence in July 2016 while shipyard construction work is targeted to start in 2q 2018 . Says fabrication of the turret is expected to be completed in 3q 2017 . First contract is for installation and integration of topside modules for newbuild floating production storage and offloading vessel .  Full Article

Keppel Corporation announces divestment of interest in Jiangyin Yangtze International
Monday, 27 Jun 2016 07:40am EDT 

Keppel Corporation Ltd : Sale of entire interest in a subsidiary) . Deal for for a cash consideration of RMB 52.6 million . Keppel Land Limited has divested its entire 95% interest in Jiangyin Yangtze International Country Club Co., Ltd . Sale of entire interest in a subsidary to Changzhou Wan Bang Qi Che Xiao Shou Fu Wu Co., Ltd . Deal not expected to have any material impact on earnings and net tangible asset per share of KCL for current financial year .  Full Article

Keppel Corp updates on civil action by EIG Management Co
Wednesday, 1 Jun 2016 08:46pm EDT 

Keppel Corporation Ltd : Civil action by EIG . Keppel denies these baseless allegations . It is alleged that the defendants participated in an unlawful conspiracy" . Eig management added several companies, including Keppel Corporation Limited and Keppel offshore & marine limited as defendants . Alleged "EIG were induced to invest over US$221 million in Sete Brasil Participacoes" . Says defendants to an action commenced by EIG against Petroleo Brasileiro SA in the United States district court .  Full Article

Keppel Corporation Ltd updates on investigations regarding contracts with Petrobras and Sete Brasil
Thursday, 5 May 2016 08:33am EDT 

Keppel Corporation Ltd:Investigations in relation to contracts entered into with Petrobras and Sete Brasil).Says the company has obtained a copy of the pp's report on the filing of charge against Skornicki.Apart from corruption, Skornicki charged with criminal conspiracy and money laundering, together with 7 other individuals.Charges were not being filed against skornicki for such possible offences at this point in time".  Full Article

Keppel Corporation Ltd updates on sale of interest in Keppel Thai Properties Public Co and Hampshire Pte.
Friday, 4 Mar 2016 04:13am EST 

Keppel Corporation Ltd:Sale of interest in Keppel thai properties public company limited and Hampshire pte. ltd.Deal for an aggregate consideration of 300 million baht.Keppel land financial services entered into a conditional sale and purchase agreement with Hong Kong King Wai Real Estate Group Co.Transaction not expected to have any material impact on earnings per share of the company for the current financial year.  Full Article