Keppel back in the black for first 9 months; sharpens focus on sustainable urban solutions

KEPPEL Corporation BN4 : BN4 0% has seen signs of improvement in the jackup rig market, and increasing enquiries for its bareboat charters for its rig assets amid rising oil prices, but group chief executive Loh Chin Hua stressed that the conglomerate will not steer away from its shift to cleaner energy solutions. 

Instead, the group is now upping the ante across various business units such as Keppel Infrastructure and Keppel Offshore and Marine (O&M) in terms of “sharpening (its) focus” on sustainable urbanisation solutions, not just on renewable energy, but also on decarbonisation solutions and energy efficiencies. 

Loh also said Keppel is on track with its plan to unlock value for S$3 billion to S$5 billion in assets over the next three years. In fact, he said, Keppel could exceed the S$5 billion target by the end of 2023 as the group moves towards a more “asset-light” structure.