Keppel

Keppel: Has finalised a contract to build a harsh env accommodation semisub worth US$315m for Floatel which follows the LOI signed earlier in Mar. This will be Floatel's 4th accom semisub with Keppel. It will meet the most stringent rules and regs for worldwide ops including the Norwegian Sector. The contract puts Keppel’s YTD wins at US$8.8b on track to beat over US$10b wins in contract previous yr. Co trades at 11.4x fwd P/E currently.