Keppel

2023 - 2 - 3

Keppel profit slumps on China lockdown, real estate woes; sees ... (CNA)

Singapore's Keppel Corp posted a steeper-than-expected drop in annual profit on Thursday (Feb 2) hurt by its urban development unit, but forecast China's ...

However, recent policy shifts to bring back the debt-laden sector on track for growth has improved outlook. That also missed analysts' average estimate of S$948.70 million, according to Refinitiv IBES. Advertisement

Keppel posts strong FY22 earnings, says distribution of Sembmarine ... (The Straits Times)

SINGAPORE - The distribution in specie of Sembcorp Marine shares will not have a major impact on Keppel Corps' net tangible asset (NTA) per share.

Of these, Keppel will distribute in-specie shares representing 49 per cent of the enlarged entity to its shareholders, with the remaining 5 per cent retained in a segregated account. Keppel shares closed up one cent at $7.65 on a volume of 1.9 million units. The company declared a final dividend of 18 cents per share. Asset management was the largest profit contributor in FY2022, with its earnings of $311 million representing over a third of the group’s net profit. Since embarking on its “Vision 2030” asset light strategy in late 2020, Keppel has reported asset monetisation of over $4.6 billion. But FY2021 numbers also benefitted from fair value gain of $277 million from the company’s investment in Envision AESC. Keppel Corp shareholders overwhelmingly approved the deal in December. [merger of Sembmarine with Keppel-owned Keppel O&M,](https://www.straitstimes.com/business/sembcorp-marine-gets-sgx-nod-for-45-billion-acquisition-of-keppel-om) Keppel Corp will receive 36.85 billion shares of the enlarged Sembmarine representing 54 per cent in the enlarged entity. On the same pro forma basis, Keppel Corp’s NTA per share would have increased from the reported $5.51 to $7.56 post transaction. So the NTA will fall back. Assets under management stood at $50 billion as at last year. “With the completion of the merger, we will make a significant gain in NTA.

Keppel H2 net profit falls 40.6% to S$429.1 million (The Business Times)

KEPPEL Corporation reported on Thursday (Feb 2) a 40.6 per cent year-on-year decline in net profit for the second half ended December on the back of lower ...

Stocks to watch: Keppel, CapitaLand Ascendas Reit, ST ... (The Business Times)

THE following companies saw new developments that may affect trading of their securities on Friday (Feb 3):

Keppel Corporation's 2HFY2022 earnings drop by 40.6% y-o-y to ... (The Edge Singapore)

Keppel Corporation has reported earnings of $429.1 million for the 2HFY2022 ended Dec 31, 2022, 40.6% lower than the earnings of $722.9 million in the ...

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Keppel Corporation's net profit down 9% to $927m in FY22 (Singapore Business Review)

SGX-listed Keppel Corporation posted $927m net profit, down 9% in fiscal year 2022 compared to the year prior due to some decline in its earnings.

In a bourse filing, Keppel said its net profit was supported by asset management and energy and environment segments. The decline in its net profit was caused by the decline in “urban development earnings, provisions for certain projects at The decline in urban development earnings caused net profit decrease.

Singapore's Keppel Corp posts 9% drop in full-year profit | Hellenic ... (Hellenic Shipping News Worldwide)

The conglomerate's net profit dropped to S$927 million (nearly $710 million) for the year ended Dec. 31 from S$1.02 billion, a year ago. That also missed ...

31 from S$1.02 billion, a year ago. The conglomerate’s net profit dropped to S$927 million (nearly $710 million) for the year ended Dec. Singapore’s Keppel Corp said on Thursday its net profit for the year fell 9%, partly hurt by weak performance from its urban development business and a decrease in provisions for certain projects at its Offshore & Marine U.S.

Singapore's Keppel Corp annual profit drops as urban development ... (Nasdaq)

Singapore's Keppel Corp said on Thursday its full-year net profit fell 9%, partly hurt by weak performance from its urban development business and a ...

($1 = 1.3060 Singapore dollars) However, recent policy shifts to bring back the debt-laden sector on track for growth has improved outlook. ((

Keppel profit slumps on China lockdown, real estate woes; sees ... (Reuters)

Singapore's Keppel Corp posted a steeper-than-expected drop in annual profit on Thursday hurt by its urban development unit, but forecast China's easing ...

This story has also been corrected to say Keppel declared a final dividend of 18 Singapore cents per share, down from 21 cents last year, and not up from 15 cents in paragraph 9) Register for free to Reuters and know the full story [(SCMN.SI)](https://www.reuters.com/companies/SCMN.SI), declared a final dividend of 18 Singapore cents per share, down from 21 cents last year. [recent policy shifts](/world/china/china-allows-covid-cases-with-no-or-mild-symptoms-quarantine-home-2022-12-07/) to bring back the debt-laden sector on track for growth has improved outlook. As a result, its net profit dropped to S$927 million ($709.91 million) for the year ended Dec. [(KPLM.SI)](https://www.reuters.com/companies/KPLM.SI) posted a steeper-than-expected drop in annual profit on Thursday hurt by its urban development unit, but forecast China's easing market conditions and policy support to the real estate sector would boost market sentiment.

Keppel Joins The Dow Jones Sustainability World Index: Here Are ... (DollarsAndSense.sg)

Keppel joins CapitaLand Investment and Wilmar International as the 3 companies from Singapore to be included in DJSI World in 2022.

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Keppel DC REIT Reports its Full Year 2022 Earnings: 5 Highlights ... (The Smart Investor)

Keppel DC REIT continues to impress with an unbroken increase in DPU since its listing. Here's 5 highlights investors should know.

It shows you how to find dividend stocks in SGX, and a nearly fool-proof way of building your portfolio. Many people love dividend investing, but few truly know how to profit from it consistently. On the negative side, the REIT’s average cost of debt further increased from 2.3% in the previous quarter to 2.7% in the fourth quarter of 2022 (4Q2022). If you’re looking to invest in 2023, our latest FREE report can guide you. Only 33.2% of the REIT’s total debt is denominated in Singapore Dollars (SGD), while 38.3% is denominated in Euros (EUR). The number of data centres in Europe needs to increase by nearly 2.5 times to meet the projected increase in demand. The higher spending on cloud services is due to the acceleration of IT modernisation and cloud usage initiatives by businesses. Enterprise spending on cloud infrastructure services in the third quarter of 2022 (3Q2022) grew 24% year-on-year to US$57.5 billion. The acquisition of the London Data Centre was completed in January 2022. The REIT reported a robust set of financial results in the second half of 2022 (2H2022). For fiscal 2022 (FY2022), gross revenue increased by 2.3% year on year to reach S$277.3 million, up from S$271.1 million in the previous year. [REITs](https://thesmartinvestor.com.sg/a-smart-guide-to-investing-an-introduction-to-reits-part-1/) as a flurry of worries descends on the sector.

Keppel O&M's US provisions hit Singapore conglomerate's bottom line (Upstream Online)

Parent Keppel sees 2022 net profit slump by 9% and return on equity also falls.

“You can see that through the asset monetisation, we are creating a lot more headroom on our balance sheet to take on new growth opportunities in energy transition, in ‘Real estate-as-a-Service’, in connectivity solutions and asset management as well. Keppel O&M last year also made good progress in putting its legacy rigs to use. These new orders bring its net orderbook to S$11 billion as of 31 December, the highest level since 2007. the O&M sector is also improving. But this is really in keeping with our Vision 2030 — as we look for more recurring income, rather than lumpy profits — that we are doing this divestment, or spinoff,” Loh noted. “2023 will be an important year for Keppel, as we take the next leap forward in our Vision 2030 trajectory to be a global asset manager and operator, creating solutions for a sustainable future.”

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