Keppel reverses losses to post S$135m Q4 profit

Singapore

KEPPEL Corporation posted S$134.5 million in its 2018 fourth-quarter earnings, reversing losses of S$492 million a year ago, which had included the S$618.7 million one-off financial penalty and related costs arising from Keppel Offshore & Marine (O&M)'s global resolution with criminal authorities over its corruption scandal.

Excluding the one-off hefty financial penalty, the mainboard-listed group's net profit for the quarter ended Dec 31, 2018 would have been 6 per cent higher year on year,