Keppel Corp. Ltd.

In the news

Southeast Asian stocks hammered by oil price fall and coronavirus Mar 9, 2020
Asian stocks plunge, as yen and bonds surge after oil plummets Mar 9, 2020
Singapore-based Keppel REIT in $110m green loan from OCBC Dec 6, 2019
Asian stocks extend gains on trade deal optimism Oct 22, 2019
Temasek’s $3bn Keppel deal spurs talk of industry consolidation Oct 21, 2019

Company Background

Keppel Corp.'s main pillars are energy-related infrastructure building and real estate development. Wholly owned subsidiary Keppel Offshore & Marine is one of the world's major builders and repairers of offshore oil rigs. It boasts a global network of 20 yards and offices. Another subsidiary, Keppel Land, develops office and residential complexes in Singapore. It is responsible for major projects like the Marina Bay Financial Center. It has been expanding its overseas portfolio, with a focus on China as well as emerging markets like Vietnam and Indonesia.

Keppel Corp. was incorporated as Keppel Shipyard in 1968. It diversified during the 1970s and 1980s, venturing into property development and expanding overseas. Keppel in 1997 participated in establishing M1, one of the city-state's big mobile network operators. It is currently one of M1's largest minority shareholders. Temasek Holdings, a Singapore sovereign wealth fund, is the current largest minority shareholder of Keppel Corp. Loh Chin Hua, who became the company's CEO in January, has over 25 years of experience in real estate and fund management, including with Government of Singapore Investment Corp., another Singapore sovereign wealth fund, and Prudential Investment.

Business Summary

Keppel Corp. Ltd. is an investment holding and management company, which engages in the provision of offshore and marine engineering and construction services. It operates through the following segments: Offshore & Marine, Infrastructure, Property, and Investments. The Offshore & Marine segment includes offshore rig design, construction, repair and upgrading, ship conversions, repair, and specialized shipbuilding. The Infrastructure segment comprises of environmental engineering, power generation, logistics, and data centers businesses. The Property segment covers property development, investment, and fund management services. The Investments segment consists mainly of interest in investment holding companies. The company was founded on August 3, 1968 and is headquartered in Singapore.

Financial Highlights

Dec 2019	SGD	USD
Revenue	7,579.70M	5,556.16M
Gross Profit	774.58M	567.79M
Operating income	550.39M	403.45M
Income before tax	806.05M	590.86M
Net income	706.97M	518.23M
EBITDA	925.68M	678.55M
Diluted EPS	0.38	0.28
Dividends Per Share	--	--
Total Assets	31,321.56M	23,293.46M
Total liabilities	19,675.52M	14,632.45M
Total equity	11,210.85M	8,337.37M
Operating cash flow	-172.60M	-126.52M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	10,296.47M	6,767.26M	5,963.77M	5,964.78M	7,579.70M
Gross Profit	1,453.08M	1,171.34M	785.61M	623.81M	774.58M
Operating income	1,453.08M	969.52M	408.08M	230.43M	550.39M
Income before tax	1,997.39M	1,054.92M	150.89M	1,018.37M	806.05M
Net income	1,524.62M	783.92M	196.02M	943.82M	706.97M
EBITDA	1,673.12M	1,206.00M	620.46M	412.82M	925.68M
Diluted EPS	0.83	0.42	0.10	0.51	0.38
Dividends Per Share	0.34	0.20	0.22	0.25	--
Total Assets	28,957.65M	29,267.48M	28,685.60M	26,606.32M	31,321.56M
Total liabilities	17,031.79M	16,933.84M	16,712.64M	15,019.18M	19,675.52M
Total equity	11,095.66M	11,658.94M	11,442.73M	11,278.21M	11,210.85M
Operating cash flow	-354.47M	746.15M	1,490.70M	411.57M	-172.60M

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019
Revenue	7,486.93M	4,901.51M	4,320.07M	4,420.63M	5,556.16M
Gross Profit	1,056.59M	848.40M	569.09M	462.32M	567.79M
Operating income	1,056.59M	702.22M	295.60M	170.78M	403.45M
Income before tax	1,452.37M	764.07M	109.30M	754.74M	590.86M
Net income	1,108.60M	567.79M	141.99M	699.49M	518.23M
EBITDA	1,216.59M	873.50M	449.45M	305.95M	678.55M
Diluted EPS	0.60	0.31	0.07	0.38	0.28
Dividends Per Share	0.24	0.14	0.15	0.18	--
Total Assets	20,412.12M	20,258.52M	21,464.82M	19,520.41M	23,293.46M
Total liabilities	12,005.63M	11,721.35M	12,505.71M	11,019.21M	14,632.45M
Total equity	7,821.28M	8,070.15M	8,562.35M	8,274.54M	8,337.37M
Operating cash flow	-257.75M	540.43M	1,079.84M	305.02M	-126.52M

Valuation Measures

Dec 2019
PER	17.38
ROA	2.44%
ROE	6.28%
Operating margin	7.26%
Profit margin	9.32%

Key executives

Chief Executive Officer & Executive Director: Chin Hua Loh
Chief Financial Officer: Hon Chew Chan
General Manager-Group Information Systems: Jacob Tong
General Manager-Risk & Compliance: Kevin Chng
Director-Group Corporate Development: Joo Ling Lim

Shareholders

Temasek Holdings Pte Ltd. (Investment Company) (21.1%)
The Vanguard Group, Inc. (2.3%)
BlackRock Fund Advisors (1.4%)
Norges Bank Investment Management (1.2%)
Schroder Investment Management Ltd. (1.0%)
Aberdeen Standard Investments (Asia) Ltd. (0.8%)
Dimensional Fund Advisors LP (0.7%)
Schroder Investment Management (Singapore) Ltd. (0.3%)
SHANWOOD DEVELOPMENT PTE LTD (0.3%)
Geode Capital Management LLC (0.3%)

Contact Details

Website:http://www.kepcorp.com
Address: No. 18-01, Keppel Bay Tower, 1 HarbourFront Avenue, Singapore, 098632, Singapore
Phone: +65.6270.6666

Related Companies

Keppel Land Watco I Co. Ltd.
Kapler Pte Ltd.
Flemmington Investments Pte Ltd.
Keppel Land (Mayfair) Pte Ltd.
Domenico Pte Ltd.
Equity Rainbow II Pte Ltd.
Chanceroy Pte Ltd.
Keppel Almere Pte Ltd.
Glendon Pte Ltd.
KPN-Keppel Alliance (SK28) Co. Ltd.
Keppel Corp. Ltd. /Subsidiaries (2)/
Keppel Konnect Pte Ltd.
Eternal Commercial Ltd.
Keppel Logistics (Foshan Sanshui Port) Co., Ltd.
Keppel Hong Da (Tianjin Eco-City) Property Dev Co., Ltd.
Keppel Hong Yuan (Tianjin Eco-City) Property Dev Co., Ltd
Keppel Lakefront (Wuxi) Property Development Co., Ltd.
Keppel Nantong Heavy Industry Co., Ltd.
Keppel REIT Property Management Pte Ltd.
Keppel Tianjin Eco-City Holdings Pte Ltd.
Lindel Pte Ltd.
Merryfield Investment Pte Ltd.
Oceansky Pte Ltd.
Parksville Development Pte Ltd.
Pembury Properties Ltd.
Keppel Heights (Wuxi) Property Development Co., Ltd.
KeplandeHub Ltd.
Floraville Estate Pte Ltd.
Harvestland Development Pte Ltd.
Hillsvale Resort Pte Ltd.

Competitors

Babcock & Wilcox Enterprises Inc
Daiki Axis Co., Ltd.
CNIM Group SA

Last Updated on 27 Mar, 2020