Keppel Corp

Keppel Corp: Announced that it has won a US$280m contract with Floatel to build a fifth accommodation semi-submersible unit that will be delivered in 4Q15. While the latest contract is not expected to have any material impact on the net tangible assets and earnings per share of the group, it brings Keppel’s year to date order wins to ~ S$4.35b, on track to meet the street’s estimates of $5.5-6.5b order wins for FY13. This also lifts the group’s order book to ~$13.4b, stretching earnings visibility over the next 3 years.