Keppel O&M turns to profit. Increases workforce

Singapore’s offshore drilling rig and vessel construction company Keppel O&M has returned to profit in the first half of 2019. The order book is at 2016 high, with a large chunk of new orders coming from renewables and LNG sectors. Keppel has also employed more than 700 people in 2Q.

According to Keppel Corporation’s results released Thursday, Keppel O&M reported a net profit of S$10 million for 1H 2019, compared to a net loss of S$40 million a year ago, “due mainly to higher investment income, lower net interest expense and a higher share of associated companies’ profits.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.