Keppel Corporation announced earnings results for the year 2015. For the year, the company reported net profit fell 19.1% to SGD 1.52 billion, with its fourth-quarter results hit by a SGD 230 million provision for the default risks tied to a USD 4.9 billion rig construction contract with the financially stricken Sete Brasil. -SGX 2/3/16"
Biggest dip for share price in the year: $9.54 to $4.64 (a whooping -51% that sent the price below its NAV)
Current share price: $6.19 (-35% from Yr 2015 high)
Keppel's offshore and marine sector contributes 53% of its total revenue.
Here's a short analytical article by The FifthPerson.
The good things are they have set aside provision for the Sete default risk and still paying out dividends albeit lower than previous. Rumours have it that they may be selling some assets eg. stakes in M1. If it ......