Keppel Corp. Ltd.

In the news

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
Asian stocks edge higher amid focus on US-China trade Oct 21, 2019
Asian stocks fall as China economic growth drops to lowest in about 30 years Oct 18, 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 2018	SGD	USD
Revenue	5,964.78M	4,420.63M
Gross Profit	623.81M	462.32M
Operating income	230.43M	170.78M
Income before tax	1,018.37M	754.74M
Net income	943.82M	699.49M
EBITDA	412.82M	305.95M
Diluted EPS	0.51	0.38
Dividends Per Share	0.25	0.18
Total Assets	26,606.32M	19,520.41M
Total liabilities	15,019.18M	11,019.21M
Total equity	11,278.21M	8,274.54M
Operating cash flow	411.57M	305.02M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	13,282.97M	10,296.47M	6,767.26M	5,963.77M	5,964.78M
Gross Profit	2,040.25M	1,453.08M	1,171.34M	785.61M	623.81M
Operating income	2,040.25M	1,453.08M	969.52M	408.08M	230.43M
Income before tax	2,888.61M	1,997.39M	1,054.92M	150.89M	1,018.37M
Net income	1,884.79M	1,524.62M	783.92M	196.02M	943.82M
EBITDA	2,305.38M	1,673.12M	1,206.00M	620.46M	412.82M
Diluted EPS	1.02	0.83	0.42	0.10	0.51
Dividends Per Share	0.48	0.34	0.20	0.22	0.25
Total Assets	31,648.07M	28,957.65M	29,267.48M	28,685.60M	26,606.32M
Total liabilities	16,920.43M	17,031.79M	16,933.84M	16,712.64M	15,019.18M
Total equity	10,380.76M	11,095.66M	11,658.94M	11,442.73M	11,278.21M
Operating cash flow	415.11M	-354.47M	746.15M	1,490.70M	411.57M

	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018
Revenue	10,483.88M	7,486.93M	4,901.51M	4,320.07M	4,420.63M
Gross Profit	1,610.31M	1,056.59M	848.40M	569.09M	462.32M
Operating income	1,610.31M	1,056.59M	702.22M	295.60M	170.78M
Income before tax	2,279.90M	1,452.37M	764.07M	109.30M	754.74M
Net income	1,487.61M	1,108.60M	567.79M	141.99M	699.49M
EBITDA	1,819.57M	1,216.59M	873.50M	449.45M	305.95M
Diluted EPS	0.81	0.60	0.31	0.07	0.38
Dividends Per Share	0.37	0.24	0.14	0.15	0.18
Total Assets	23,883.54M	20,412.12M	20,258.52M	21,464.82M	19,520.41M
Total liabilities	12,769.17M	12,005.63M	11,721.35M	12,505.71M	11,019.21M
Total equity	7,833.94M	7,821.28M	8,070.15M	8,562.35M	8,274.54M
Operating cash flow	327.64M	-257.75M	540.43M	1,079.84M	305.02M

Valuation Measures

Dec 2018
PER	11.35
ROA	3.41%
ROE	8.30%
Operating margin	3.86%
Profit margin	15.82%

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 (1.1%)
Aberdeen Standard Investments (Asia) Ltd. (1.1%)
Schroder Investment Management Ltd. (1.0%)
Dimensional Fund Advisors LP (0.7%)
JPMorgan Asset Management (Singapore) Ltd. (0.4%)
SHANWOOD DEVELOPMENT PTE LTD (0.3%)
Schroder Investment Management (Singapore) 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

Babcock & Wilcox Enterprises Inc
CNIM Group SA

Last Updated on 6 Dec, 2019