Keppel’s $100 mil contract win is ‘small, but a win nonetheless’

SINGAPORE (July 21): UOB Kay Hian is keeping its “hold” call on Keppel Corporation with a target price of $6.40, saying there is “no foreseeable improvement” to the group’s offshore & marine (O&M) business despite its recent contract wins.

This follows Wednesday’s announcement of its wholly-owned subsidiary, Keppel Singmarine, securing $100 million worth of dredger-building contracts from Belgium group Jan De Nul.   

(See Keppel Singmarine to build $100 mil worth of dredgers)

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