Brokers' take

Keppel Corp | Buy June 8 close: S$6.38 Target price: S$7.36 OCBC Investment Research, June 8

IN FY2016, property contributed S$620 million in net profit (79 per cent), followed by infrastructure at S$99 million (13 per cent), investments at S$36 million and offshore & marine at S$29 million.

The general outlook for property markets in Asia remains positive in the long term, driven by continuing urbanisation. Keppel's residential landbank in Singapore and overseas total 8.4 million sq m of gross floor area, translating to a pipeline of about 66,000 homes, mostly in China and Vietnam.