Brokers' take

Keppel Corporation | Buy (maintained) April 22 close: S$6.90 Fair value: S$7.83 OCBC Investment Research, April 22

Keppel Corporation saw a 4.1 per cent year-on-year (yoy) increase in revenue to S$1.5 billion but registered a 39.9 per cent drop in net profit to S$202.9 million in the first quarter.

The latter accounted for 24 per cent and 21 per cent of ours and the street's full-year forecasts, respectively.

Net profit from the property division decreased by 65 per cent to S$132 million in Q1, while Offshore and Marine (O&M) turned in net profit of …