Singapore’s Keppel begins strategic review of offshore and marine business

01-Oct-2020 Intellasia | Reuters | 6:02 AM Print This Post

Singaporean conglomerate Keppel Corp said on Tuesday it has started a strategic review of its struggling offshore and marine (O&M) business and will seek to monetise assets such as some of its landbank and investment properties.

Keppel said it is exploring options including strategic mergers and disposals.

“We will also seek to realise the group’s current potential by unlocking about S$3-S$5 billion ($2.2-$3.7 billion) of our monetisable assets over the next three years, which will be redeployed to seize new opportunities and improve returns,” CEO Loh Chin Hua said in a statement.

The plans are part of a 10-year strategy to refocus Keppel’s portfolio towards areas such as energy and environment, urban development, connectivity and asset management.

($1 = 1.3698 Singapore dollars)


Category: Singapore

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