KEPPEL CORPORATION LIMITED
BN4.SI
Keppel Corporation: Updates on Sete contracts
- Following Sembcorp Marine’s (SMM) recent announcement that it had commenced arbitration proceedings against various subsidiaries of Sete Brasil to preserve its interests under the Sete contracts, Keppel Corporation (KEP) also provided an update last night.
- Unlike SMM, KEP made no mention about any legal action.
- Like SMM, however, it also believed that the S$230m provisions which it made in 4Q15 are sufficient.
- Meanwhile, KEP will continue to monitor and evaluate the situation to best protect its interests.
- Maintain HOLD with S$5.57 fair value estimate.
Low Pei Han CFA
OCBC Securities
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http://www.ocbcresearch.com/
2016-04-27
OCBC Securities
SGX Stock
Analyst Report
5.57
Same
5.57
