Keppel Corporation - UOB Kay Hian 2016-03-14: Earnings Update ~ Impact Of Transocean’s And Golar’s Deferrals
KEPPEL CORPORATION LIMITED BN4.SI Keppel Corporation: Earnings Update ~ Impact Of Transocean’s And Golar’s Deferrals
- Keppel’s two FLNG projects from Golar have had their Notice to Proceed timelines deferred to end-16.
- Given the sizeable combined contract size of US$1.4b, we are removing it from our earnings estimate till the projects have formally started, and hence our 2016-18 earnings forecasts are reduced by 2-4%.
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