Dear readers, yesterday it was announced that Keppel Corporation has plans to sell between $3 billion to $5 billion of assets in next three years. The announcement came two months after Temasek Holdings announced that it would drop its bid to acquire Keppel Corporation.
Keppel’s growth initiatives are in four areas: (a) data centres (b) environmental solutions (c) renewable energy and (d) integrated urban development and asset management. It was also announced that Keppel would review its offshore and marine business.
I would think Keppel Corporation may sell off some of its stake in other listed companies as part of the asset sale. For example, Keppel Corporation has a 24.4% stake in Dyna-Mac, a 6.24% stake in Penguin International and a 40% stake in Kris Energy. Keppel may sell off its stake in these three offshore and marine companies to consolidate its own offshore and marine business. Hence these three stocks: Dyna-Mac stock, Penguin International stock and Kris Energy stock may be of focus next!
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