Keppel - UOB Kay Hian 2023-10-20: A Generally Positive Business Update With Asset Sales To Look Forward To

Keppel - A Generally Positive Business Update With Asset Sales To Look Forward To

Published:
Keppel Corp (SGX:BN4) | SGinvestors.ioKeppel Corp (SGX:BN4)
  • Keppel’s 9M23 business update was in line and generally positive although China real estate was the key drag as expected. In the near to medium term, asset monetisation as well as the potential sale of rigs within the Asset Co could be key drivers to Keppel's share price.
  • - Read this at SGinvestors.io -

Keppel's 9M23 - Some hits, some misses.

  • Keppel Corp (SGX:BN4) reported an in-line 9M23 business update with revenue from continuing operations rising by 5% y-o-y to S$5.3b (or 75% of our full-year revenue estimates), bolstered by the infrastructure and connectivity segments.
  • - Read this at SGinvestors.io -
  • In the near to medium term, it would appear that potential rig sales by Asset Co, and thus early repayment of credit notes, may be a share price catalyst.
  • As has been the case for the past few years, it was Keppel’s real estate segment in China that appears to be a drag on overall performance with a 30% q-o-q decline in home sales.

Gearing rises on a sequential basis.

  • Read more at SGinvestors.io.




Above is the excerpt from report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full report in PDF @ https://www.utrade.com.sg/.




Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2023-10-20



Read also UOB's most recent report:
2024-04-26 Keppel - Steady As She Goes.

Previous report by UOB:
2024-02-02 Keppel - Strong 2023 Results With A Rosy M&A Outlook Ahead.

Price targets by other brokers at Keppel Corp Target Prices.

Listing of research reports at Keppel Corp Analyst Reports.

Relevant links:
Keppel Corp Share Price History,
Keppel Corp Announcements,
Keppel Corp Dividends & Corporate Actions,
Keppel Corp News Articles





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