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Keppel posts bumper S$3.6 billion net profit in H1 from sale of O&M unit

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Anita Gabriel
Jessie Lim

Anita Gabriel &

Jessie Lim

Published Thu, Jul 27, 2023 · 09:29 PM
    • Keppel CEO Loh Chin Hua (centre), at the results briefing on Thursday, described the first six months of 2023 as "transformational and productive" for the company.
    • Keppel CEO Loh Chin Hua (centre), at the results briefing on Thursday, described the first six months of 2023 as "transformational and productive" for the company. PHOTO: KEPPEL CORP

    KEPPEL Corp , fresh from ditching its conglomerate status to recast itself as a global asset manager and operator, reported a record net profit of S$3.63 billion for the six months ended June, up from S$498 million the year earlier.

    The bumper profits – the highest in its 55-year history – were led by gains of S$3.3 billion from its divestment of the offshore and marine (O&M) unit to Seatrium.

    Setting aside the discontinued O&M operations for both periods, Keppel’s net profit came in at 2.5 per cent higher, at S$444.95 million from S$434.14 million the year before.

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