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 in 1968 and is headquartered in Singapore.

Financial Highlights

Dec 2021	SGD	USD
Revenue	8,624.71M	6,417.85M
Gross Profit	522.07M	388.48M
Operating income	-162.41M	-120.85M
Income before tax	868.09M	645.97M
Net income	1,022.65M	760.97M
EBITDA	243.98M	181.55M
Diluted EPS	0.55	0.41
Dividends Per Share	0.33	0.24
Total Assets	32,322.92M	23,975.76M
Total liabilities	20,283.08M	15,045.12M
Total equity	11,655.14M	8,645.28M
Operating cash flow	-84.72M	-63.04M
	Currency in SGD	Currency in USD

Historical Data

SGD | USD

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	5,963.77M	5,964.78M	7,579.70M	6,574.34M	8,624.71M
Gross Profit	785.61M	655.44M	805.31M	466.06M	522.07M
Operating income	408.08M	201.45M	477.65M	-579.08M	-162.41M
Income before tax	150.89M	963.97M	733.32M	-92.46M	868.09M
Net income	196.02M	948.39M	706.97M	-505.86M	1,022.65M
EBITDA	620.46M	383.84M	852.95M	-165.58M	243.98M
Diluted EPS	0.10	0.51	0.38	-0.27	0.55
Dividends Per Share	0.22	0.25	0.20	0.10	0.33
Total Assets	28,685.60M	26,645.96M	31,372.92M	32,105.87M	32,322.92M
Total liabilities	16,712.64M	15,069.27M	19,726.89M	20,949.97M	20,283.08M
Total equity	11,442.73M	11,267.76M	11,210.85M	10,728.45M	11,655.14M
Operating cash flow	1,490.70M	411.57M	-172.60M	522.09M	-84.72M

	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021
Revenue	4,320.07M	4,420.63M	5,556.16M	4,766.13M	6,417.85M
Gross Profit	569.09M	485.76M	590.32M	337.87M	388.48M
Operating income	295.60M	149.30M	350.13M	-419.81M	-120.85M
Income before tax	109.30M	714.42M	537.54M	-67.03M	645.97M
Net income	141.99M	702.87M	518.23M	-366.72M	760.97M
EBITDA	449.45M	284.47M	625.23M	-120.04M	181.55M
Diluted EPS	0.07	0.38	0.28	-0.20	0.41
Dividends Per Share	0.15	0.18	0.14	0.07	0.24
Total Assets	21,464.82M	19,549.49M	23,331.66M	24,292.26M	23,975.76M
Total liabilities	12,505.71M	11,055.96M	14,670.65M	15,851.37M	15,045.12M
Total equity	8,562.35M	8,266.88M	8,337.37M	8,117.47M	8,645.28M
Operating cash flow	1,079.84M	305.02M	-126.52M	378.49M	-63.04M

Valuation Measures

Dec 2021
PER	9.11
ROA	3.17%
ROE	9.13%
Operating margin	-1.88%
Profit margin	11.85%

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-Risk Compliance: Chee Keong Chang
Director-Group Mergers & Acquisitions: Hsien Yang Chua

Shareholders

Temasek Holdings Pte Ltd. (Investment Company) (20.8%)
Keppel Corp. Ltd. (2.7%)
The Vanguard Group, Inc. (1.9%)
BlackRock Fund Advisors (1.7%)
Norges Bank Investment Management (1.2%)
Dimensional Fund Advisors LP (0.6%)
Nikko Asset Management Asia Ltd. (0.5%)
BlackRock Investment Management (UK) Ltd. (0.4%)
Geode Capital Management LLC (0.4%)
BlackRock Advisors (UK) Ltd. (0.4%)

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

CNIM Group SA
Babcock & Wilcox Enterprises Inc

Last Updated on 28 Jun, 2022