Keppel Corporation’s net profit down 9% to $927m in FY22

The decline in urban development earnings caused net profit decrease.

SGX-listed Keppel Corporation posted $927m net profit, down 9% in fiscal year 2022 compared to the year prior due to some decline in its earnings.

In a bourse filing, Keppel said its net profit was supported by asset management and energy and environment segments. The asset management segment contributed the largest earnings with $311m.

The decline in its net profit was caused by the decline in “urban development earnings, provisions for certain projects at Keppel Offshore & Marine yard in the US, and lower fair value gains from Keppel’s investment in Envision AESC.”

It was partly offset by a $293m partial reversal of impairments made in 2020 for Keppel O&M’s legacy rig assets when oil price fell due to the pandemic.

Follow the link for more news on

Keppel Corporation

Also Read

What 2025 holds for SREITs

CDLHT acquires Hotel Indigo Exeter and retail units for $33.2m

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit

Top News

Vibrant Group wins suit against Blackgold Australia

The group shall be paid damages and fees by Blackgold Australia’s ex-CEO and ex-chairman.

Lorem Ipsum text in year 2025

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old.

Agribusiness

Lorem Ipsum is simply dummy text of the printing and typesetting industry.

Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.

Agribusiness

Secondhand furniture gains traction as Singaporeans embrace circular economy practices