Corporate digest

Keppel Corp

KEPPEL Corporation on Monday said associate company Floatel International will conduct an independent review of its business plan, which may include a review and update of the assumptions used in the impairment assessment of its vessels. The move comes after major Floatel competitor Prosafe adopted different assumptions that resulted in a US$810.5 million impairment to the book value of its vessels. Prosafe's assumptions were "significantly different" from Floatel's assumptions, which led to the company recognising an impairment of US$30.3 million to the book value of its vessels.

Heeton Holdings