Last hurrah from Keppel’s former O&M business

KEPPEL’s chief Loh Chin Hua was bent on focusing on the fruits of the company’s labour in recent years to remake itself, more than the gains from the divestment of its offshore and marine (O&M) unit, at the company’s recent earnings call.

That was never going to be easy to do.

Some S$3.3 billion from the divestment gains of Keppel Offshore & Marine had led Keppel to post the most profits ever in its five-and-a-half decade long history, of S$4.1 billion for FY2023. That marks a more than four times increase from a year earlier.