|Day's Range||6.50 - 6.58|
|52 Week Range||5.13 - 7.23|
|PE Ratio (TTM)||14.35|
|Dividend & Yield||0.14 (3.16%)|
|1y Target Est||N/A|
Singaporean conglomerate Keppel Corp posted a 21 percent drop in its quarterly profit and warned it did not expect a speedy recovery in the offshore and marine market. The conglomerate and its smaller cross-town rival Sembcorp Marine have been hit by an oversupply of offshore oil drilling rigs, with customers delaying contracts and refraining from placing new orders with oil prices expected to stay lower for longer. "Despite some pick-up in activity in the offshore market, the general consensus is that, with the prevailing uncertainty in the oil market, and oversupply in the jackup market, a quick recovery is unlikely," said CEO Loh Chin Hua.
It might take time for the offshore marine sector to regain its footing, but the worst could be over for the largest offshore rig builder in the world.
Q1 2017 Keppel Corporation Ltd Earnings Presentation