Thursday, 26 June 2014
What Investors Can Learn About Keppel Corporation from Its Latest Deal
Read? What Investors Can Learn About Keppel Corporation from Its Latest Deal
What does this mean for Keppel?
There are current worries amongst investors that Keppel Corporation’s offshore arm, Keppel Offshore & Marine, is facing increasing competition from Chinese shipyards. However, what the company has demonstrated here is that it is always looking to outdo its last achievement and has its eyes fixed on the road ahead.
The contract also highlights the beauty of Keppel Offshore & Marine’s employees and their ability to constantly seek new revenue streams for the overall corporation. This is also evident in the way Keppel Corporation has transformed itself from a business that had only a lone shipyard; today, it’s into real estate, finance, telecommunications, offshore oil & gas, and infrastructure.
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Keppel also made a conscious effort to differentiate itself from its competitors. Mr Choo elaborated, “You must choose battles that you can win. That’s
ReplyDeletewhy we don’t build tankers, bulk carriers and container ships. There, the Chinese and Koreans will eatour lunch. We chose rigs, Floating Production Storage and Offloading units and specialised vessels.”
CW8888: Now Keppel has choosen to build FLNG
Read? Big catch: Keppel’s ship conversion deal worth $750m
ReplyDeleteThomson Reuters ONE via COMTEX) -- Hamilton, Bermuda - (June 30, 2014) - Golar LNG Limited (the "Company") GLNG +0.73% announced today that it has closed its registered offering of 12,650,000 shares of its common stock, par value $1.00 per share, which included 1,650,000 common shares purchased pursuant to the Underwriters' previously announced option to purchase additional common shares. The proceeds of the offering are expected to be used to (i) fully fund initial milestone payments under a conditional agreement (the "Conversion Agreement") with Singapore's Keppel Shipyard Limited in connection with the conversion of an LNG carrier, the Hilli, to a floating liquefaction natural gas vessel and (ii) partly fund other future scheduled payments under the Conversion Agreement. Depending on the timing of these future scheduled payments, the Company may temporarily invest the remaining funds on a short-term basis or use the funds for other general corporate purposes.
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