Keppel's infrastructure business to rake in $150m profits
Thanks to Qatar and Manchester projects.
According to CIMB, we expect the infrastructure business to turn in around S$150m profit in FY13 as provisions made for the Qatar and Manchester projects are contained.
Here's more:
Some $150m-200m of provisions for delays and cost overruns were made in FY12, resulting in a loss of about S$1m for infrastructure. Keppel Cogen should continue to benefit from the high power spread until the commissioning of LNG terminal.
Operational & maintenance of the Qatar projects should also contribute steady annual profit of about S$10m.