Keppel O&M: Majority of orders in 2019 from gas and renewables

Singapore Keppel Corporation’s Offshore & Marine business division saw its revenue and profit increase in the third quarter of 2019. While the division is famous for its rig building capabilities, the company has so far this year secured one rig order, and 60 percent of contracts in the first nine months arrived from gas and renewables-related projects.

Keppel Corporation’s revenue, derived from four business segments – Offshore & Marine, Property, Infrastructure, and Investments, grew to around S$2 billion in the third quarter, up from $S1,3 billion a year ago. The company’s overall net profit fell to S$159 million, from S$227 million in the corresponding quarter of 2018.

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