Keppel Limited

[brattzz]

got to know some O&M employee's were let go last 2 weeks... gosh... :O :O down-scaling and preparing for sale...

[cyclone]

Keppel Land invests in Singapore-based co-living company, Cove

Singapore, 15 December 2020 – Keppel Land has taken a strategic minority stake in Cove Living Pte Ltd (Cove), one of Southeast Asia’s fastest growing co-living companies, as the lead investor in the start-up’s US$4.6 million Series A funding round.

Headquartered in Singapore, Cove was founded in 2018 and is a co-living company reimagining urban rental for young people. It currently has about 300 high-quality rooms and studios in Singapore and about 250 in its new market of Jakarta. By the first half of 2021, Cove expects to double its offering to around 1,000 rooms. To bring more homes to Southeast Asia’s young professionals and students, Cove plans to expand to other key markets in the region, including Vietnam and the Philippines.

More details in https://links.sgx.com/1.0.0/corporate-an...20Cove.pdf

[cyclone]

Keppel to build wind turbine installation vessel in the U.S. worth about S$600m
* One of the world’s largest offshore wind turbine installation vessels
* First Jones Act-compliant offshore wind installation vessel

Singapore, 17 December 2020 – Keppel Corporation Limited refers to its announcement dated 9 October, 2020 “Keppel secures contract worth about S$600m in the offshore renewable energy industry”. Keppel Corporation is pleased to further announce that the contract is for the engineering, procurement and construction of a Wind Turbine Installation Vessel (WTIV) by Keppel Offshore & Marine (Keppel O&M) for a United States energy company, Dominion Energy Inc. The securing of this contract is in line with Keppel Corporation’s Vision 2030, which includes seeking opportunities in providing renewable energy solutions.

The vessel is being built by Keppel O&M’s shipyard in the U.S., Keppel AmFELS, and will be Jones Act compliant. Scheduled for delivery in 2023, it will be available for charter hire to offshore wind developers, in support of several U.S. wind projects. The vessel is expected to be fully utilised on U.S. East Coast projects exceeding 5 gigawatts of U.S. offshore wind
construction through to 2027.

More details in https://links.sgx.com/1.0.0/corporate-an...122020.pdf

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Keppel's 100day plan seems to be moving fast.

lots of news from Keppel, buying and selling.

So far, looks good and congratulation to all vested in Keppel.

The engine is fired up.

Divestment of Interest in First King Properties Limited
Joint venture to acquire stake in residential site in Jiading District, Shanghai, China
Divestment of Entire Shareholding Interest in Keppel Bay Tower Pte. Ltd.
Keppel Offshore & Marine successfully concludes its U.S. Deferred Prosecution Agreement
Updates on restructuring process - KrisEnergy Ltds Q&A
Acquisition of 45% interest in Harlin Solar Pty Ltd

From 22 Dec till today, all these announcement confirmed that the giant had waken and started to move.

So far, my sensing is these move are on the +ve side and likely the momentum will accelerate.
If you look at the KrisEnergy QnA, it's clear that Keppel had been playing strategic bet which pay off nicely?

 
Target 604

Stay home and stay safe, everyone.

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Keppel - notification of result
Keppel REIT on 25 January 2021 
Keppel DC REIT on 26 January 2021 
Keppel Pacific Oak US REIT on 27 January 2021 
Keppel Corporation Limited on 28 January 2021

Autonomous Vessel:

Stay home and stay safe, everyone.

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Keppel O&M

As mentioned in the announcement dated 5 June 2020, three of the rigs which have been delivered to Borr Drilling remain partially financed by Keppel O&M through a seller’s credit arrangement. The Second Framework Deed further provides that in respect of such seller’s credit arrangement 
(a) interest accruing up to the third anniversary of the drawdown date be deferred to May 2023 
(b) interest accruing from the third to the fourth anniversary of the drawdown date be payable on the fourth anniversary of the drawdown date and 
© the final maturity date be deferred by one year.


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https://www.oedigital.com/news/484885-ke...g-business
Keppel O&M will exit the offshore rig building business, after completing the existing rigs under construction. In line with the Group’s more disciplined approach towards capital allocation, Keppel O&M will not undertake any new project requiring large upfront capex or without milestone payments. It will also progressively exit low value-adding repairs and other activities with low bottom-line contribution, and focus on higher value-adding work

Stay home and stay healthy, everyone.

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Keppel 2H and FY2020 Result briefing
https://links.sgx.com/FileOpen/Keppel%20...eID=646562

Petrobras has announced that at the request of Sete, they would basically re-negotiate the settlement after the inability of Sete to meet the settlement requirements and the due date. So, it is actually an open extension of the date and we would have to wait for the outcome of that re-negotiation.

As we move towards an asset-light model, we will streamline our yard operations;
Some of the yards would be divested or repurposed in the longer run.

if we find that we do not need the yard footprint as we have today, there is a possibility that we can repurpose the yards. We can also sell the yards that are in surplus.

Enjoy the transformation journey:

Stay home and stay healthy, everyone.

[Reenat]

Keppel is exiting the Rig Building business.

The O&M division could be used to for the renewable energy sector.... i.e. building dedicated ships for the installation of offshore windfarms... I believe the talent is there and retraining will be required.

[Bibi]

I tot exiting the rig business shld be good for the long term since oil prices will remain low and renewable energy sources are up and coming. But apparently the market doesnt seem to like what they hv heard bashing down its share price.

[r0n]

I tot exiting the rig business shld be good for the long term since oil prices will remain low and renewable energy sources are up and coming. But apparently the market doesnt seem to like what they hv heard bashing down its share price.

I think it's not so much about the plan but that there's no visibility on the execution - the change management part is especially crucial when reskilling the workers to do something very different from what they were doing previously. Keppel Corp have not provided sufficient visibility on how they intend to pivot and what is the roadmap for investors to expect.