Keppel Corp 02 (Jan 15 to Dec 25)

[winston]

not vested

KEPPEL CORPORATION | BUY

TO BE A TRUE CONGLOMERATE

- Harnessing synergies
- Well-positioned to ride property upturn
- Asset management for various real assets

Though almost synonymous with Offshore & Marine, Keppel Corporation is a multi-business group with different verticals in the same line of providing solutions for sustainable urbanisation.

In FY16, property contributed 79% of net profit, followed by infrastructure at 13%, as well as investments and O&M.

The general outlook for property markets in Asia remains positive in the long term, driven by continuing urbanisation, and Keppel is well-positioned to ride on a property upturn.

In the infrastructure segment, Keppel is involved in energy and environmental infrastructure, as well as data centres and logistics.

With Keppel Capital, the group is also able to connect investors with high-grade real assets such as data centres, power and desalination plants, LNG vessels and FPSOs.

Co-investments also allow the group to grow faster without putting a strain on its balance sheet.
As such, we expect to see the asset management business to gain increasing prominence in the group.

Maintain BUY with fair value estimate of S$7.36 on Keppel Corp.

Source: OCBC

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https://www.theedgesingapore.com/keppel ... tributions

[helios]

Waiting to punk in a trade on this. Shall see if there is an entry price soon.

[behappyalways]

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https://www.theedgesingapore.com/keppel ... 5-mil-gain

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https://www.theedgesingapore.com/keppel ... rget-price

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https://www.theedgesingapore.com/keppel ... vessels-us

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https://www.theedgesingapore.com/keppel ... ts-reports

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https://www.theedgesingapore.com/keppel ... l-building

[behappyalways]

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https://www.theedgesingapore.com/keppel ... tions-unit