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Keppel Q4 profit tumbles; group makes S$230m Sete Brasil provision

Profit attributable to shareholders drops 44.2% to S$404.78m while revenue falls 36.8%

Published Thu, Jan 21, 2016 · 09:50 PM

Singapore

KEPPEL Corporation posted a 44.2 per cent fourth-quarter decline to S$404.78 million in profit attributable to shareholders, mainly driven down by a S$230 million provision for the default risks tied to a US$4.9 billion rig construction contract with the financially-stricken Sete Brasil.

Revenue for the three months ended Dec 31, 2015 was down 36.8 per cent at S$2.48 billion.

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