|Bid||6.06 x 0|
|Ask||6.08 x 0|
|Day's range||6.05 - 6.15|
|52-week range||4.82 - 6.97|
|Beta (5Y monthly)||1.21|
|PE ratio (TTM)||16.65|
|Earnings date||30 Jul 2020|
|Forward dividend & yield||0.20 (3.30%)|
|Ex-dividend date||08 Jun 2020|
|1y target est||8.23|
With less than four months to go, is there a risk that Temasek may walk away from the deal?The post Could the Keppel Corporation Takeover Offer by Temasek Be in Jeopardy? appeared first on The Smart Investor.
Temasek Holdings is prepared to drop a S$4 billion bid for control of Keppel Corp should the Singaporean conglomerate’s next earnings report trigger a clause that allows it to walk away.
Shares in Sembcorp Marine and Sembcorp Industries remained halted for a second day on Friday, prompting speculation among some analysts about a potential deal between the Singapore rigbuilder and its parent company. Both Sembcorp Marine and Sembcorp Industries declined to comment. Sembcorp Marine's shares closed up 17% at S$0.725 on Wednesday, giving the company a market value of S$1.78 billion ($1.28 billion).
* The Philippines top gainer in region * Malaysia policy decision later in the day * Thailand falls By Nikhil Subba May 5 (Reuters) - Most Southeast Asian stock markets on Tuesday clawed back some ground lost in the previous session, as phased easing of coronavirus restrictions by some countries and U.S. states bolstered hopes of an economic recovery. Sentiment was also aided by a firmer finish on Wall Street overnight, as a rally in tech stocks eclipsed worries about simmering U.S.-China tensions over the coronavirus' origin. Meanwhile, shares of conglomerates Ayala Corp and Metro Pacific Investments Corp climbed 6.8% and 8.8%, respectively, after President Rodrigo Duterte apologised to the firms' owners for his "hurting words".
* Philippines hits lowest since April 6 * Malaysia's March CPI falls 0.2% y/y * Singapore benchmark hits two-week low By Nikhil Subba April 22 (Reuters) - Most Southeast Asian stock markets fell for a second session on Wednesday as the collapse of oil prices earlier this week underscored supply glut worries and exposed the severity of the damage to demand from the coronavirus pandemic. The week so far has seen some of the most volatile days in the history of oil trading, with prices for U.S. crude turning negative, as inventories swelled and finding storage spaces became difficult, prompting investors to digest that demand worries could last for several months. Singapore's Straits Times Index declined 1.5% to hit its lowest in two weeks.
* Malaysia top performing regional market * Philippines bucks trend with 1.5% drop By Nikhil Subba April 20 (Reuters) - Most Southeast Asian stock markets rose on Monday, with Malaysia leading gains, as China, the region's prime trading partner, cut a key interest rate and promised more measures to prop up an economy battered by the cornonavirus pandemic. China cut its benchmark lending rate by 20 basis points to 3.85% on expected lines and said it would roll out additional policies to prevent short-term economic shocks from becoming long-term stagnation trends. "We expect further rate declines in the coming months...As employment conditions remain weak and external demand is being held back by lockdowns elsewhere in the world, we think the People's Bank of China will take further steps to prop up activity," analysts at Capital Economics said in a note.
SINGAPORE (Dec 29): Keppel Bay Tower will be the first commercial development in Singapore to utilise renewable energy to power all its operations, including the offices of tenants in the building, Keppel Corporation announced on Dec 29. Keppel Corp’s property arm, Keppel Land, which owns and operates the building, will be installing an assembly of photovoltaic (PV) panels spanning about 400 sqm on the roof of the 18-storey Keppel Bay Tower, as well as its six-storey podium block. Through its electricity retailer, Keppel Electric, Keppel Land will be purchasing Renewable Energy Certificates (RECs), which are generated from PV panels installed in Keppel Offshore & Marine’s yards in Singapore.
Swiss-based MET Energy plans to expand rapidly in Europe over the next three years via acquisitions worth at least 1 billion euros ($1.10 billion) once a deal with Singapore conglomerate Keppel Corporation is finalised next month, MET's CEO said on Monday. This valued MET at about 250 million euros, a valuation that CEO Benjamin Lakatos said was insufficient to compete in Europe. "We have been like a child tiptoeing to see what's on the table," Lakatos told Reuters in an interview.
Swiss-based MET Energy plans to expand rapidly in Europe over the next three years via acquisitions worth at least 1 billion euros ($1.10 billion) once a deal with Singapore conglomerate Keppel Corporation is finalised next month, MET's CEO said on Monday. This valued MET at about $250 million, a valuation that CEO Benjamin Lakatos said was insufficient to compete in Europe. "We have been like a child tiptoeing to see what's on the table," Lakatos told Reuters in an interview.
Hyundai Heavy Industries Holdings Co Ltd said on Wednesday it is working with Singaporean regulators to alleviate concerns of its $2 billion merger with rival shipbuilder Daewoo crimping competition in the Southeast Asian maritime hub. Plans to combine the world's two biggest shipbuilders announced in January require regulatory approval in South Korea, Singapore, China, Japan, Kazakhstan and the European Union, a Hyundai spokesman told Reuters. "We will do our best to complete this well," he said, referring to Singapore's review.
* Washington plans partial trade deal with Beijing at Chile summit * Indonesia set to post biggest weekly gain in nearly 5 months * Singapore Exchange rises 7.5% after strong Q1 results By Sameer Manekar Oct 25 (Reuters) - Most Southeast Asian stock markets traded in the red on Friday as uncertainty over the Sino-U.S. trade deal was revived ahead of fresh rounds of negotiations, while concerns about global economic slowdown continued to rattle confidence. Investors are also nervous ahead of a summit in Chile where U.S. President Donald Trump hopes to finalise a partial trade deal with China's Xi Jinping. Also dampening sentiment, a Reuters poll of economists found that the recent truce in the U.S.-China trade dispute is not an economic turning point and has failed to reduce a significant risk that the world's biggest economy could slip into recession in the next two years.
* U.S. official said tariffs on Chinese goods could be withdrawn * Singapore's Keppel Corp surges 17.1% on Temasek offer * Indonesia set to snap seven consecutive sessions of gains By Sameer Manekar Oct 22 (Reuters) - Most Southeast Asian stock markets traded in positive territory on Tuesday, with Singapore leading gains, as signs of progress in the Sino-U.S. trade negotiations whetted appetite and encouraged investors to resume their bets. U.S. President Donald Trump sounded upbeat on a China deal on Monday, while White House adviser Larry Kudlow said tariffs on Chinese goods scheduled for December could be withdrawn if talks go well.
Singapore state investor Temasek Holdings is offering to take control of Keppel Corp in a S$4.1 billion ($3 billion) deal that will shore up support for the conglomerate, which is battling difficult business conditions. Temasek, which directly owns 20.5% of Keppel, said in a statement that the pre-conditional offer is subject to it obtaining domestic and foreign regulator approvals, which could take many months. Keppel, whose businesses range from rig-building to property development, has been facing business challenges in its main sectors.
SINGAPORE (Oct 21): Temasek Holdings is moving to increase its stake in Keppel Corporation to 51%, and undertake a “comprehensive strategic review” of its businesses. Temasek already currently directly owns 20.45% of Keppel. This will result in Temasek and Kyanite directly owning 51% of shares in Keppel.
Temasek Holdings is offering to buy control of Singapore conglomerate Keppel Corp in a S$4.1 billion ($3 billion) deal that could spark consolidation in the domestic rig building sector that is battling the effects of low oil prices. The announcement, which confirmed what sources told Reuters earlier on Monday, boosted shares in rig builder Sembcorp Marine by 12% on expectations of a likely shake-up in the industry. On Tuesday, the shares rose a further 2.2%, while shares in Sembcorp's parent Sembcorp Industries were steady after rallying 10% in the previous session.
This translates to earnings per share (EPS) of 8.8 cents for 3Q19, compared with EPS of 12.5 cents for 3Q18. The decline in earnings was due primarily to the absence of gains from the group’s divestment of a commercial development in Beijing, as well as higher net interest expenses. Notably, share of results of associated companies soared to $77.8 million, close to doubling from $39.4 million in 3Q18.
Singapore firms Keppel Corp and Sembcorp Marine said on Monday they had reached settlements with indebted Brazilian firm Sete Brasil over long-standing contracts to build drillships and rigs. Sete, which leased oil rigs to Brazil's state oil firm Petroleo Brasileiro SA (Petrobras), filed for bankruptcy protection in 2016 after being engulfed in a massive corruption scandal. Keppel and Sembcorp Marine are among a host of firms caught up in the wide-ranging "Car Wash" investigation.
Singapore conglomerate Keppel Corp said on Monday it reached an agreement with indebted Brazilian firm Sete Brasil over a long-standing contract for six drilling rigs. Keppel has previously said it has made provisions for around $200 million as part of the Sete contracts and stopped work on building the rigs in late 2015. In late 2017, Keppel's rig-building unit paid $422 million to resolve charges it paid bribes to win deals in Brasil, including to Sete.
SINGAPORE (Sept 16): Keppel DC REIT is acquiring a 99% stake in Keppel DC Singapore 4 and 1-Net North Data Centre for a total consideration of $585.1 million. The proposed acquisitions are expected to be “highly accretive” to the REIT’s Distribution per Unit (DPU), says the manager of Keppel DC REIT. The manager also plans to fund the acquisitions with proceeds with a fully underwritten equity fund raising exercise of $473.8 million, as well as debt.
SINGAPORE (Sept 6): From Tuesday, Keppel KBS US REIT (KORE) will be known as Keppel Pacific Oak US REIT, in preparation to outsource the management of its US tech office portfolio. KORE’s counter name on the Singapore Exchange will also be changed to KepPacOakReitUSD. In a filing on Thursday evening, KORE says the new Pacific Oak Management Agreement, which will replace the existing KBS Management Agreement, will substantially be on the same terms as the preceding one.
SINGAPORE (Sept 2): Keppel Land China is expanding its presence in Beijing by acquiring 100% of the equity interest in Beijing Shunxiangren Enterprise Management Co., which indirectly owns the Shangdi Neo commercial property, for RMB178.6 million ($35.1 million). Shangdi Neo is located within China’s Zhongguancun, or the so-called Silicon Valley, in the Haidian District.
SINGAPORE (Aug 27): Keppel Corp was awarded the SEC-SATS Asia Pacific Singapore Environmental Achievement Award for the services category at the Singapore Environment Council’s Environmental Achievement Awards 2019 today. The annual Singapore Environmental Achievement Awards recognises organisations for their excellence in environmental stewardship. The award ceremony was graced by Singapore Minister for Environment and Water Resources Masagos Zulkifli.
SINGAPORE (Aug 22): Keppel Corp’s China property arm is jointly developing 3.8ha of land in Nanjing, China, into a commercial and residential mixed-use property. The site has a gross floor area of 99,248 sq m and can yield about 211 residential units, 342 commercial units and 79 shop units, said Keppel on Wednesday. On Wednesday, Keppel Land China unit Shanghai Ming Bu Industrial Co (SMBI) entered a share purchase agreement with Yincheng International Holding Co to acquire a 25% stake in the JV company Nanjing Zhijun Property Development Co for 250 million yuan.
SINGAPORE (Aug 15): KrisEnergy has asked for a court order to restrain the commencement of legal proceedings and enforcement actions by its creditors, for a period of six months. “It would not be feasible for the Company to make all payment(s) of its financial obligations as they fall due and therefore it requires a restructuring of its liabilities,” it added. KrisEnergy’s existing debt agreements included a US$200 million revolving credit facility (RCF) with DBS Bank maturing on June 30 next year, $130 million 4% senior unsecured notes due in 2022 and $200 million 4% senior unsecured notes due in 2023.
SINGAPORE (July 22): Keppel Corporation, the conglomerate with four core businesses comprising property, offshore & marine, infrastructure and investments, reported a 39% decline in 2Q19 earnings to $153 million from a year ago. In 2Q19, Keppel’s property division posted a PBT of $161 million, down 38% from a year ago. This was due mainly to the absence of gains from en-bloc sales of development projects which was recorded in 2Q18.