SINGAPORE, Sept 29 (Reuters) - Singaporean conglomerate Keppel Corp said on Tuesday it had identified assets worth S$17.5 billion ($12.8 billion) that could potentially be monetised, including through sales, and started a review of its lossmaking offshore and marine (O&M) business. The plans unveiled on Tuesday are part of Keppel's 10-year strategy that it had flagged … [Read more...]
Temasek Unit Scraps $3 Billion Bid for Keppel
By Krystal Chia (Bloomberg) -- Kyanite Investment Holdings, a unit of Singapore state-backed investor Temasek Holdings Pte, scrapped its bid to take control of Keppel Corp. after the oil-rig builder posted a second-quarter loss. Kyanite invoked a clause allowing it to withdraw the offer after the quarterly loss failed to meet pre-conditions of the bid, it said in a statement … [Read more...]
Temasek’s $3 Billion Bid for Keppel at Risk as Conglomerate Reports Big Loss
By Aradhana Aravindan and Anshuman Daga SINGAPORE, July 31 (Reuters) - Singaporean conglomerate Keppel Corp swung to a big second-quarter loss on Thursday that breaches a threshold in state investor Temasek Holdings' $3 billion conditional offer to buy control of the company. Last October, Temasek offered to increase its one-fifth stake in Keppel to 51%, raising expectations … [Read more...]
Keppel Posts Huge First Half Loss on Rig Building Impairments
SINGAPORE, July 30 (Reuters) - Singaporean conglomerate Keppel Corp reported a loss in the first half of 2020 due to impairments in its offshore and marine business that has been battered by low global oil prices. Keppel posted a net loss of S$537 million ($390 million) for the six months to June, compared with a net profit of S$356 million a year ago. The company, whose … [Read more...]
Keppel Receives Takeover Offer That Could Too Good to Pass Up
By David Ramli (Bloomberg) --Singapore’s Temasek Holdings Pte plans to take control of Keppel Corp. for about S$4 billion ($3 billion) and undertake a review of the oil-rig builder’s business that could involve a board shakeup. The state-backed investor, which already owns about one-fifth of Keppel, offered to buy an additional 30.6% stake at S$7.35 a share, according to a … [Read more...]