Highlights

Trader Hub

Author: traderhub8   |   Latest post: Mon, 13 Jun 2022, 3:58 PM

 

Keppel Corporation – Acquisition of SPH to Accelerate Keppel’s Vision 2030

Author:   |    Publish date:


  • Proposed acquisition of SPH to be earnings accretive, will grow recurring-income base, in line with Vision 2030.
  • SPH owns synergistic businesses with Keppel. Acquisition to provide opportunity for Keppel to expand and enter into secular growth areas.
  • Net gearing to increase to just under 1x after acquisition, which is at the upper end of its historical gearing range. No change to our forecasts pending SPH EGM and regulatory approval.
  • Maintain BUY and SOTP TP of S$6.28, still with a 10% holding-company discount. Our TP translate to about 1.0x FY21e book value, a slight discount to its 5-year average of 1.05x. Catalysts expected from O&M contract wins and a successful resolution to its O&M unit

Source: Phillip Capital Research - 3 Aug 2021

Share this
Labels: Keppel Corp

Related Stocks

Chart Stock Name Last Change Volume 
Keppel Corp 6.56 +0.04 (0.61%) 1,566,300 

  Be the first to like this.
 


APPS
I3 Messenger
Individual or Group chat with anyone on I3investor
 
 

231  183  217  597 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 HSI19800MBePW.. 0.062-0.017 
 HSI 21000MBeP.. 0.104-0.023 
 Sembcorp Marine 0.108+0.003 
 HSI 19400MBeP.. 0.035-0.012 
 Mencast 0.057+0.011 
 YZJ Fin Hldg 0.430.00 
 HSI21600MBeCW.. 0.127+0.023 
 HSI22600MBeCW.. 0.055+0.013 
 Mapletree Log Tr 1.70+0.06 
 SingTel 2.58+0.05 
PARTNERS & BROKERS