Keppel Corp. Ltd.

In the news

Singapore's vital marine sector under pressure to restructure Aug 14, 2020
Singapore conglomerate Keppel loses Temasek's $3bn bid Aug 10, 2020
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

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 & marine engineering and construction services. It operates through the following segments: Offshore & Marine, Infrastructure & Others, Urban Development, Connectivity, Asset Management, and Corporate & Others. The Offshore & Marine segment include offshore production facilities and drilling rig design, construction, fabrication and repair, ship conversions and repair, and specialized shipbuilding. The Infrastructure & Others segment include power generation, renewables, environmental engineering, and infrastructure operation and maintenance. The Urban Development segment include property development and investment, as well as master development. The Connectivity segment include the provision of telecommunications services, retail sales of telecommunications equipment and accessories, development and operation of data centers, and provision of logistics solutions. The Asset Management segment include management of private funds and listed real estate investment and business trusts. The Corporate & Others segment consists of treasury operations, research & development, investment holdings and provision of management, and other support services. The company was founded on August 3, 1968 and is headquartered in Singapore.

Financial Highlights

Dec 2020	SGD	USD
Revenue	6,574.34M	4,766.13M
Gross Profit	466.06M	337.87M
Operating income	-579.08M	-419.81M
Income before tax	-92.46M	-67.03M
Net income	-505.86M	-366.72M
EBITDA	-165.58M	-120.04M
Diluted EPS	-0.27	-0.20
Dividends Per Share	0.10	0.07
Total Assets	32,105.87M	24,292.26M
Total liabilities	20,949.97M	15,851.37M
Total equity	10,728.45M	8,117.47M
Operating cash flow	522.09M	378.49M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
Revenue	6,767.26M	5,963.77M	5,964.78M	7,579.70M	6,574.34M
Gross Profit	1,171.34M	785.61M	655.44M	805.31M	466.06M
Operating income	969.52M	408.08M	201.45M	477.65M	-579.08M
Income before tax	1,054.92M	150.89M	963.97M	733.32M	-92.46M
Net income	783.92M	196.02M	948.39M	706.97M	-505.86M
EBITDA	1,206.00M	620.46M	383.84M	852.95M	-165.58M
Diluted EPS	0.42	0.10	0.51	0.38	-0.27
Dividends Per Share	0.20	0.22	0.25	0.20	0.10
Total Assets	29,267.48M	28,685.60M	26,645.96M	31,372.92M	32,105.87M
Total liabilities	16,933.84M	16,712.64M	15,069.27M	19,726.89M	20,949.97M
Total equity	11,658.94M	11,442.73M	11,267.76M	11,210.85M	10,728.45M
Operating cash flow	746.15M	1,490.70M	411.57M	-172.60M	522.09M

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020
Revenue	4,901.51M	4,320.07M	4,420.63M	5,556.16M	4,766.13M
Gross Profit	848.40M	569.09M	485.76M	590.32M	337.87M
Operating income	702.22M	295.60M	149.30M	350.13M	-419.81M
Income before tax	764.07M	109.30M	714.42M	537.54M	-67.03M
Net income	567.79M	141.99M	702.87M	518.23M	-366.72M
EBITDA	873.50M	449.45M	284.47M	625.23M	-120.04M
Diluted EPS	0.31	0.07	0.38	0.28	-0.20
Dividends Per Share	0.14	0.15	0.18	0.14	0.07
Total Assets	20,258.52M	21,464.82M	19,549.49M	23,331.66M	24,292.26M
Total liabilities	11,721.35M	12,505.71M	11,055.96M	14,670.65M	15,851.37M
Total equity	8,070.15M	8,562.35M	8,266.88M	8,337.37M	8,117.47M
Operating cash flow	540.43M	1,079.84M	305.02M	-126.52M	378.49M

Valuation Measures

Dec 2020
PER	--
ROA	-1.59%
ROE	-4.61%
Operating margin	-8.80%
Profit margin	-7.69%

Key executives

Chief Executive Officer & Executive Director: Chin Hua Loh
Chief Financial Officer: Hon Chew Chan
General Manager-Group Information Technology: Jason Chin
General Manager-Group Risk & Compliance: Kenny Mok
General Manager-Risk Compliance: Chee Keong Chang

Shareholders

Temasek Holdings Pte Ltd. (Investment Company) (20.9%)
The Vanguard Group, Inc. (2.0%)
BlackRock Fund Advisors (1.7%)
Norges Bank Investment Management (1.3%)
Dimensional Fund Advisors LP (0.5%)
State Street Global Advisors Singapore Ltd. (0.4%)
Geode Capital Management LLC (0.4%)
Schroder Investment Management (Singapore) Ltd. (0.3%)
SHANWOOD DEVELOPMENT PTE LTD (0.3%)
BlackRock Advisors (UK) Ltd. (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

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Competitors

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Last Updated on 26 Jan, 2022