Analysts split over Keppel's S$230m default risk provision
Singapore
KEPPEL Corporation's provision of S$230 million for the Sete Brasil contract in its FY2015 financial results has triggered questions about how the conglomerate assesses the default risks stemming from a financially stricken client answerable for almost half of its S$9 billion net order book as at end-2015.
Some analysts have gone one step further in flagging more default risks, which have yet to be accounted for for the newbuild jack-ups worth in excess of US$5 billion that are either deferred on requests or have not been delivered to clients, according to Maybank Kim Eng.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Evergrande EV unit says its liquidators found a potential buyer
ECB’s Cipollone, Panetta see conditions for a June rate cut
Yangzijiang Financial says its maritime entry not a conflict of interest with shipbuilding unit
Trafigura faces off with aluminium bulls over huge metal stash
Seatrium bags S$11 billion in FPSO contracts from Petrobras
Pound boosted with BOE seen staying on hold until after election