Keppel Corp reported profits of S$300mn ($222mn) for 1H2021, reversing net losses of -S$537mn ($397mn) during the same period last year that was impacted by S$930mn ($687mn) of impairments in its O&M business. All of its key business units reported a better performance during the period. The Group’s revenues climbed 15% to S$3.7bn ($2.7bn), bolstered by higher contributions from the Urban Development, Asset Management and Energy & Environment segments. Its O&M net order book grew 70% YoY. Keppel has also announced the monetization of over S$2.3bn ($1.7bn) in assets since its asset monetization program was announced in September 2020, and has completed about half of these transactions to date. They declared an interim cash dividend of 12 cents a share for H1.
Keppel’s SGD 3.8% 2027s were flat at 102.15, yielding 3.7%
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