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Keppel Corporation Ltd (KPLM.SI)

KPLM.SI on Stock Exchange of Singapore

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Latest Key Developments (Source: Significant Developments)

Keppel Corp announces JV with Woh Hup
Tuesday, 8 Nov 2016 05:10am EST 

Keppel Corporation Limited : Joint Venture With Woh Hup For Supply Of Prefabricated Pre-finished Volumetric Construction Modules . Shareholding of Keppel and Woh Hup in JVCO is 61% and 39% respectively . Transaction will not have any material impact on net tangible assets and EPS of KCL for FY ending 31 december 2016 .Principal business activities of JVCO will be to pursue construction projects.  Full Article

Keppel corporation updates on Krisenergy's proposed preferential offering
Wednesday, 2 Nov 2016 09:46pm EDT 

Keppel Corporation Ltd : Refers to announcement by Krisenergy ltd. In relation to Krisenergy's proposed non-renounceable and non-underwritten preferential offering . Maximum subscription is not expected to have a significant adverse impact on earnings of company and its subsidiaries for FY16 . Devan is currently in process of transferring existing devan shares to its sole shareholder, keppel oil & gas pte. ltd. . Keppel oil & gas is in discussions with Krisenergy to provide an irrevocable undertaking to Krisenergy . Keppel -co and Krisenergy are also in discussions to establish a preferred partner relationship where keppel offshore & marine will provide krisenergy with offshore and marine solutions .Estimated gross proceeds which will be raised from preferential offering will be approximately S$139.1 million.  Full Article

Keppel corporation updates on Krisenergy's proposed preferential offering
Wednesday, 2 Nov 2016 07:05pm EDT 

Keppel Corporation Ltd : Refers to announcement by Krisenergy ltd. In relation to Krisenergy's proposed non-renounceable and non-underwritten preferential offering . Maximum subscription is not expected to have a significant adverse impact on earnings of company and its subsidiaries for FY16 . Devan is currently in process of transferring existing devan shares to its sole shareholder, keppel oil & gas pte. ltd. . Keppel oil & gas is in discussions with Krisenergy to provide an irrevocable undertaking to Krisenergy . Keppel -co and Krisenergy are also in discussions to establish a preferred partner relationship where keppel offshore & marine will provide krisenergy with offshore and marine solutions .Estimated gross proceeds which will be raised from preferential offering will be approximately S$139.1 million.  Full Article

Keppel Corp says Q3 net profit down 38%
Thursday, 20 Oct 2016 05:48am EDT 

Keppel Corporation Ltd : 3Q 2016 net profit down 38% to s$225 million, compared to s$363 million for 3q 2015 . q3 revenue s$1.46 billion versus s$2.44 billion last year . "demand in offshore market is expected to remain tepid" . no dividend recommended for current financial period . "rightsizing of keppel o&m business will continue as we prepare for an extended period of weaker demand for new oil rigs" . Landscape for offshore & marine (o&m) remains very challenging . "we expect that our o&m business will be increasingly diversified beyond just oil and gas" . "will increasingly also look into early termination of contracts and selective retrenchment in singapore" . for first nine months of year, keppel o&m has reduced its direct workforce by close to 8,000 or around 26%. . on sete's plans, we believe that provision of s$230 million taken at end of 2015 remains appropriate and adequate . "senior management across all keppel business units have voluntarily taken a reduction in monthly salary" . "directors of keppel corporation will also be proposing lower directors' fees for 2016 at next year's agm" . "we are also reviewing our yard capacity in light of declining workload" . "we have also worked on cutting our overheads which have come down by close to 20% year-on-year in first nine months of 2016" . "as we look to turn inventory more, we can rightsize property book & re-deploy balance sheet space that is freed up for other growth businesses".  Full Article

Keppel Corporation says Keppel land divests stake in Wiseland Investment
Wednesday, 5 Oct 2016 05:26am EDT 

Keppel Corporation Ltd : Keppel land limited has entered into a conditional sales and purchase agreement to divest its 100% stake in Wiseland Investment .Deal for a total consideration of approximately US$41 million.  Full Article

Keppel updates on investigations on contracts with Petrobras, Sete Brasil
Sunday, 2 Oct 2016 07:03pm EDT 

Keppel Corporation Ltd : Refers to contracts entered into between certain Keppel entities with Petrobras and/or Sete Brasil . Has notified authorities in relevant jurisdictions of its intention to cooperate . Keppel recognises that certain transactions associated with Skornicki may be suspicious .Says matter continues to be under review.  Full Article

Keppel says Keppel Land China and Alpha Investment Partners divest stakes in Shanghai retail mall
Thursday, 15 Sep 2016 05:15am EDT 

Keppel Corporation Ltd : Keppel land China and alpha investment partners divest stakes in Shanghai retail mall for US$516.9 million .  Full Article

Keppel Corporation to divest stake in Sparkle Bright Holdings
Thursday, 15 Sep 2016 05:15am EDT 

Keppel Corporation Ltd : Sale of interest in associated company Sparkle Bright Holdings Limited . ECH entered into a sale and purchase agreement . KCL's 42.5% share of the consideration for the divestment is about USD219.7 million . Group expects to recognise a gain of approximately s$73 million from the divestment . Consideration will be satisfied fully in cash . Agreement to divest its 80% stake in Sparkle Bright Holdings Limited to Star Champ Development Limited .  Full Article

Keppel Corporation appoints new CEO for sino-Singapore Tianjin eco-city investment and development
Tuesday, 13 Sep 2016 09:49am EDT 

Keppel Corporation Ltd : New CEO for sino-Singapore Tianjin eco-city investment and development co ltd) . Tay Lim Heng designated as chief executive officer of the sino-Singapore Tianjin eco-city investment and development . Says Tay will take over from liew choon boon .  Full Article

Keppel Corporation says Keppel land entered into joint venture with Shwe Taung Group
Wednesday, 7 Sep 2016 05:10am EDT 

Keppel Corporation Ltd : Keppel land in joint venture to develop phase two of junction city in yangon) . Keppel land limited has entered into a conditional joint venture agreement with shwe taung group . Keppel land's investment in this next phase will be about US$48.6 million (approximately s$68 million) . Keppel land will hold 40% stake in the serviced residences and office component of phase two of junction city . Construction of phase two of junction city is expected to commence in 2018 .  Full Article

BRIEF-Keppel DC REIT announces resignation of joint company secretary

* Resignation of Maritz Bin Mansor as joint company secretary of company Source text for Eikon: Further company coverage: