I think it is still quite far away for them to grow and increase their total revenue to hit the 10B value. Similarly , the Total net income has also been decreasing from 1,884.798m in 2013 to 301.668m in 2017.
Diluted EPS has also been going downhill from 0.504 in 2013 to 0.231 in 2017.
Dividend is almost below half of what has been declared in 2013 of 0.48 versus 0.22 in 2017.
Diluted EPS of 0.231 , PE is about 35.2 times. I think it is still quite a little bit high as compare to its usual PE of about 13-15 times.
Looking at the latest 1st quarter result which was being released on
Singapore, 19 April 2018 – Keppel Corporation Limited (Keppel) reported a net profit of
S$337 million for the first three months of 2018, 34% higher than the S$252 million
net profit for 1Q 2017, bolstered by higher contributions from the Property Division.
The Group achieved revenue of S$1,470 million for 1Q 2018, which was an improvement
of S$222 million or 18% over 1Q 2017. The increase was underpinned by higher revenues
achieved by the Property and Infrastructure divisions, which mitigated the impact of lower
work volume in the Offshore & Marine Division.
I think the total net profit has also factored in the divestment gain of 289m from the property division.
I think without this divestment gain, net profit may be about the same level as in 1st quarter 2017.
So my observation is that, it may still take quite sometimes for the company to achieve the same level of net profit as in year 2013.
The current price of $8.15 seems to be trading at a premium level as compare to its NAV of $6.311.
On a positive note , the total order book has generally increased to 4.3B as per the table below:
Another piece of good news is that they have been able to secure a first newbuild drilling rig order in 3 years.
Not a call to buy or sell.
Please do your own due diligence.
Also the company had just made announcement of a CIVIL ACTION BY EIG FUNDS.
The Company wishes to update its shareholders that KOM has been served with an amended complaint
that includes an additional cause of action against KOM for allegedly aiding and abetting the fraud
committed by Petroleo Brasileiro SA and Sete Brasil Participacoes SA against EIG and seeks to recover
US$221 million in purported investment losses as well as punitive damages. The Company is of the
view that the additional cause of action is similarly without merit and the Company will continue to
vigorously defend itself.
The Company will provide further updates as appropriate.
quote : http://infopub.sgx.com/FileOpen/KCL%20-%20Update%20on%20EIG%20Lawsuit.2%20May%202018.ashx?App=Announcement&FileID=502868
Keppel Corporation Limited, an investment holding company, engages in the offshore and marine, property, infrastructure, and investments businesses in Singapore and internationally. The company constructs, fabricates, and repairs offshore production facilities and drilling rigs, power barges, specialized vessels, and other offshore production facilities; researches and develops deepwater engineering works; engineers, constructs, and fabricates platforms for the oil and gas sector; undertakes shipyard works and other general business activities; and procures equipment and materials for the construction of offshore production facilities. It is also involved in the trading and installation of hardware, industrial, marine, and building related products, as well as the provision of leasing services; sourcing, fabricating, and supply of steel components; ship repairing, shipbuilding, and conversion activities; marine contracting and ship owning business; painting, blasting, and process and sale of slag; property investment, management, and development activities; fund management; golf and hotel ownership and operation; development of marina lifestyle and residential properties; trading of construction materials; development of district heating and cooling systems; electricity generation and supply, and general wholesale trade businesses; purchase and sale of gaseous fuels; and trading of communication systems and accessories. In addition, the company offers jacking systems, and heavy-lift equipment and related services; project management and procurement, towage, financial, real estate investment trust management, logistics and supply chain, warehousing and distribution, data center facilities management, travel agency, and metal fabrication services; housing services for marine workers; and technical consultancy for ship design and engineering works, as well as solid waste treatment solutions. Keppel Corporation Limited was incorporated in 1968 and is based in Singapore.
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