DBS and UOB Report 10% Profit Drop in Q1
DBS reported a 10% YoY fall in Q1 2022 net profits to S$1.8bn. DBS said that higher base effects for wealth management and treasury markets activities last year was one of the reasons for the dip in profits. Total income fell 3% YoY to S$3.75bn, of which, net interest...
Olam’s OFI to acquire Canada’s Club Coffee at $162mn Valuation
Agri-food company Olam International’s arm OFI (Olam Food Ingredients) is set to acquire Canada’s largest roasters of packaged coffee Club Coffee L.P. OFI will acquire Club Coffee at an enterprise value of CA$150mn (S$162mn), subject to working capital...
Keppel-Sembmarine Agree for O&M Units Merger; Keppel to Realize S$9.4bn in value
Keppel Corporation announced that it has entered into definitive agreements with Sembcorp Marine for the proposed merger of Keppel Offshore & Marine (O&M) and Sembcorp Marine. The proposed merger is based on a 50-50 enterprise value ratio between Keppel...
Keppel Corp Reports Strong Results
Keppel Corporation released a voluntary business update where it said that it saw a higher net profit YoY with increased contributions from all segments except Urban Development. The update comes on the back of a delay in announcing the merger of Keppel Offshore &...
