Keppel Corporation

(26-08-2015, 07:46 AM)morten Wrote: Its uncharacteristic for Aberdeen to sell KepC now. The headwinds of KepFEL is well reported for about a year now when oil prices plunge.

I reckon they have faced redemptions.

Sent from my SM-N910G using Tapatalk

I am with most buddies' view, the disposal, is very likely triggered by fund redemption.

It is just 2% disposal from the last stake.

(not vested)

I reckon the Keppel is getting a good deal, amid the current market condition. No further info provided for the deal...

(not vested)

Keppel O&M unit buys US firm's offshore rig business for US$100 mil

SINGAPORE (Aug 31): Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary has acquired the offshore rig business of US-based Cameron International Corp for US$100 million ($140.9 million).

Under a stock and asset purchase agreement signed with Cameron on Aug 27, the wholly-owned unit Keppel Offshore & Marine USA, Inc. (KOM USA) acquired the LETOURNEAUTM jackup rig designs, rig kit business, and aftermarket services of the former.
Under the agreement, a new subsidiary known as "NewCo" will be 100%-owned KOM USA, which houses the offshore rig business.

Keppel O&M says the LETOURNEAUTM suite of jackup rig designs are "established" designs that have been popular with certain market segments and have a proven track record of operating in a variety of environments.

These include the LETOURNEAUTM Super 116E, WORKHORSE, Super Gorilla XL and Jaguar that will add to Keppel’s offerings in the jackup rig market.


The completion of the acquisition is subject to the fulfilment of certain conditions precedent, including relevant approvals from regulatory authorities.

Shares of Keppel O&M ended higher at $7.04 last Friday, up 8 cents or 1.2%.
http://www.theedgemarkets.com/sg/article...-us100-mil

(31-08-2015, 09:47 AM)CityFarmer Wrote: I reckon the Keppel is getting a good deal, amid the current market condition. No further info provided for the deal...

(not vested)

Keppel O&M unit buys US firm's offshore rig business for US$100 mil

SINGAPORE (Aug 31): Keppel Offshore & Marine's (Keppel O&M) wholly-owned subsidiary has acquired the offshore rig business of US-based Cameron International Corp for US$100 million ($140.9 million).

Under a stock and asset purchase agreement signed with Cameron on Aug 27, the wholly-owned unit Keppel Offshore & Marine USA, Inc. (KOM USA) acquired the LETOURNEAUTM jackup rig designs, rig kit business, and aftermarket services of the former.
Under the agreement, a new subsidiary known as "NewCo" will be 100%-owned KOM USA, which houses the offshore rig business.

Keppel O&M says the LETOURNEAUTM suite of jackup rig designs are "established" designs that have been popular with certain market segments and have a proven track record of operating in a variety of environments.

These include the LETOURNEAUTM Super 116E, WORKHORSE, Super Gorilla XL and Jaguar that will add to Keppel’s offerings in the jackup rig market.


The completion of the acquisition is subject to the fulfilment of certain conditions precedent, including relevant approvals from regulatory authorities.

Shares of Keppel O&M ended higher at $7.04 last Friday, up 8 cents or 1.2%.
http://www.theedgemarkets.com/sg/article...-us100-mil

Perhaps, Keppel's purchase from Cameron should be read together with SLB's purchase of Cameron?

Wow, so Gung Ho !
In a bad time like this, still going around and do big ticket purchase ?

But then again, who wants to sell their proprietary technologies in good time ?

So this deal is like a Big Casino Gambling, win big or loss big !

Chances is Keppel will loss big first.

When they cannot convince you, they try their best to confuse you... track records mean nothing but for sure they will survive just dunno how bad the bleed will be...

http://www.straitstimes.com/business/com...out-crisis

Keppel Corp chief executive Loh Chin Hwa believes the group's multi-sector strategy will allow it to weather ups and downs in the business cycle.
"Conglomerates tend to perform the best through crises because of their access to capital, and their ability to invest when times are tough," he said in an article in the group's monthly in-house newsletter.
"Of course, we want our engines firing on all cylinders. But even when we go through turbulence, and one of the engines slows down, the other engines would be able to pick up the pace," he added.

Mr Loh was referring to the group's core business in the offshore and marine sector, which has come under strain after oil prices slumped. Its other businesses include infrastructure and property, as well as other investments such as upstream oil and gas company KrisEnergy, and telco M1.

http://www.straitstimes.com/asia/growing...eal-estate

Growing foreign interest in Vietnam's real estate

   After a slew of legislative changes, the property market in Vietnam is taking off due to foreign interest. Keppel Land will be marketing the second phase of its project, Estella Heights, in Ho Chi Minh City, in Singapore. PHOTO: KEPPEL LAND
Published
1 hour ago
  [url=http://www.straitstimes.com/asia/growing-foreign-interest-in-vietnams-real-estate#][/url]
Foreign buyers are starting to take greater interest in the Vietnamese property market after a slew of legislative changes has given them a freer hand there, CBRE says.
It also means Singapore developers - some veterans in the Vietnam market - will now be able to not just sell their units onshore in Vietnam, but also consider marketing them in Singapore as well.
For example, Keppel Land will be launching the second phase of its project, Estella Heights in Ho Chi Minh City, here in coming weeks.

From July 1, foreign individuals and enterprises are allowed to purchase and own residential property - for the former, if they have entry and exit immigration stamps, and for the latter, if they only use the homes for their own staff.

When it rains, it pours...

http://www.straitstimes.com/business/com...-spore-inc

The Brazilian predicament that Keppel Corp's oil-rig unit finds itself in is a stark reminder of the challenges Singapore companies sometimes face when doing business overseas. Despite the best-laid plans and intentions, companies can get mired in volatile local politics - as unit Keppel Fels Brasil has.

The oil-rig builder said last week that it may face an investigation into deals with Brazilian state-run oil company Petrobras and its subsidiary, Sete Brasil. Petrobras is in the midst of a massive probe in the wake of a procurement corruption scandal that is partly behind moves to impeach Brazilian President Dilma Rousseff. Sembcorp Marine's Jurong Shipyard is also believed to be another Singapore company facing investigation.

Would u buy 8 yr paper for 3.75%?

kepcorp... I think I will keep my powder dry till i see blood on the mother shares in 2/3 yrs time and take risks on equity

8Y - KEPPEL CORPORATION LIMITED
 
 
Initial Yield guidance at cost 3.75% area                         
Expected Issue Size Around S$200MM
Denomination SGD 250k x 250k
Timing Today’s Business
Comments To follow
Risk Rating 4 TBC
LV 70%-75% TBC 
 
Issuer                           : Keppel Corporation Limited         
Issuer Rating                 : Unrated                            
Issue Rating                  : Unrated                            
Status                           : Senior Unsecured                   
Format                          : Bearer, Reg S off Issuer's USD3 billion                                                         
                                      Multi-Currency Medium Term Note Programme                                                       
Tenor                            : 8 years                            
Expected Issue Size      : Around S$200MM
Initial Price Guidance     : 3.75% area                         
Coupon Payment          : Fixed Rate, semi-annual, actual/365 (fixed)                                              
Details                          : SGD250k denoms, Singapore Law, SGX Listing                                                         
Selling Restrictions        : As per the Programme, primarily S274 & S275 of Singapore SFA                      
Sole Bookrunner           : DBS Bank Ltd.                      
Clearing                        : CDP                                
Timing                          : As early as today business         
 
Comps:
 
Kepsp 3.145 2022 -  3.32%, sor + 63bp                     
Kepsp 3.10  2020 -   3.10%, sor + 57bp

(23-11-2015, 03:53 PM)greengiraffe Wrote: Would u buy 8 yr paper for 3.75%?

kepcorp... I think I will keep my powder dry till i see blood on the mother shares in 2/3 yrs time and take risks on equity

Well, FCL 7Y bond is priced as 3.65%, which isn't too far away.  

http://www.businesstimes.com.sg/companie...nds-on-sgx

I do agree that, participating in its equity seems more viable, than owning its bond now.

(not vested in both now)

Even in challenging times, orders are flowing.

Keppel Offshore & Marine, a wholly-owned company of Keppel Corporation Limited, secures contracts worth S$125 million from repeat customers

Keppel Offshore & Marine Ltd's local and overseas subsidiaries continue to win strong support from repeat customers by securing 4 (four) contracts worth a total of about S$125 million :
1. a Liquefied Natural Gas (LNG) Floating Storage Unit (FSU) vessel awarded by Armada Floating Gas Storage Limited
2. a Floating Production Storage and Offloading (FPSO) vessel awarded by Yinson Production (West Africa) Pte Ltd, a wholly-owned subsidiary of Yinson Holdings Berhad.
3. a FPSO integration contract awarded by MODEC Offshore Production Systems (Singapore) Pte Ltd.
4. a barge enhancement contract awarded by BP Exploration (Shah Deniz) Limited (BP), operator of the Shah Deniz gas field development.