Keppel T&T’s 4Q earnings down 93.1% to $3.1 mil on lower fair value gain, higher overheads

SINGAPORE (Jan 25): Keppel Telecommunications & Transportation (Keppel T&T) posted 4Q16 earnings of $3.1 million, 93.1% lower than a year ago.

This was largely due to a 96.5% or $34.6 million decline in operating profit to $1.3 million because of “lower fair value gain on investment properties and higher overheads”, says the Keppel Corporation subsidiary in its Wednesday aftermarket filing to the SGX.

Revenue fell 5.5% to $49.7 million mainly due to lower revenue from the group’s logistics and data centre divisions.

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