Keppel's Profit Weighed Down by Sluggish Offshore Business
Earnings per share expanded to 14.3 Singapore cents from 11.6 Singapore cents in the preceding year. The conglomerate and its rival Sembcorp Marine Ltd have been suffering from an oversupply of offshore oil drilling rigs, with customers delaying contracts and refraining from placing orders while oil prices linger at about half their 2014 peak. In 2016, Keppel posted its smallest annual profit in a decade.
Chief executive Loh Chin Hua told a Web-briefing that while the unit continued to make a profit at the gross operating level, it was insufficient to cover its fixed costs.
The results were buoyed by a three-fold jump in Keppel Infrastructure's net profit for the quarter to S$30 million.
Group revenue slid 28.4 per cent to $1.25 billion, dragged down by the offshore and marine business, where turnover fell 41 per cent to $483 million. Higher revenues from its infrastructure and investment divisions could not fully offset the losses in its offshore and marine business or its property arm.
Pre-tax earnings of the O&M division slumped by 99 percent to $1 million.
President Aliyev offers condolences to Egyptian president
Al-Sisi has declared a three-month state of emergency for the country, and ordered troops to help police secure public spaces. The Christian community has been a relatively strong supporter of the President since he came to power in 2013.
During the reported period, the company succeeded to reduce workforce by 1,2500 employees (6%), compared to previous quarter.
The "very challenging conditions" of the offshore market has led to Keppel Offshore & Marine (Keppel O&M) posting a net loss for the first quarter ended 31 March 2017.
Since the start of 2015, the division has slashed global direct workforce by close to 18,000 or about 49%. The pre-tax earning of the Offshore and Marine Division slumped by 99% to 1 million Dollars, recording a net order book of 2.5 billion USD, excluding orders from one of its biggest customers, rig leaser Sete Brasil Participacoes SA, which filed for bankruptcy protection past year amid a corruption scandal. Over the past two weeks, at least 50 cities have implemented similar measures.
"Our revised fair value estimate of S$7.36, down slightly from S$7.40 after updating the values of Keppel's listed entities, implies a P/B of 1.1x" says analyst Low Pei Han in a Friday report. Off-topic, inappropriate or insulting comments will be removed.
It was confirmed that Pitt's estate has been quiet since his breakup from Jolie because the children live and travel with her. On Wednesday, PEOPLE.com reported that a source close to the publication revealed that: "It's not anything serious".
He was the first to die of eight inmates who had been scheduled for executions over 11 days starting last Tuesday. The company said it had been misled because the state had never said it planned to use the drug in executions.
South Korea's acting President Hwang Kyo-ahn called on the military and security agencies to maintain vigilance. US Ambassador Nikki Haley separately stressed that the onus was on North Korea to prevent an escalation.
He scored 20 points but made just six of 15 shots from the floor, missed six of his 13 free-throw attempts and had five turnovers. Stevens said that after services for Thomas' sister, the star guard intends to rejoin the team Friday for Game 3 at Chicago.
According to French officials, the attacker had already served jail-time in 2000's for attacking police officials with a gun. National Front's Marine Le Pen was once a fringe candidate, but is now considered a front-runner in Sunday's election .
The judge filed her order Thursday after the state complained to the Arkansas Supreme Court that she was taking too much time. The state filed an amended plan Monday that grants attorneys for the inmates more phone access while on prison grounds.
The United States Anti-Doping Agency ( Usada ) says Rollins failed to properly file her whereabouts information for drug testers. As well as the eight out-of-competition tests, Rollins also passed all eight in-competition drug tests she took previous year .
Athletes are required to be available for one hour each day for testing under global anti-doping regulations. Under World Anti-Doping Agency rules, athletes can not miss three tests in a 12-month period.
Pochettino: Chelsea favourites in Cup semi
Two years before that, Portsmouth beat them 2-0 after extra time at the same stage of the competition and at the same stadium. Spurs trail their London rivals by just four points in the Premier League with the title race set to go down to the wire.
More Americans Than Ever Support Marijuana Legalization
This sentiment has increased each year we've measured it since 2013, with the turning point to majority support coming in 2014. Experts predict the market could hit $21bn in sales by 2020 - bringing in millions in taxes for state governments, too.
DR. STRANGE Director Summoning LOCKE & KEY Adaptation
Joe Hill and Gabriel Rodriguez's creator-owned title Locke & Key has been ordered for a pilot by Hulu, according to Deadline . While the fan-favorite project was passed over, it was eventually screened as a one-off at Comic-Con 2014.
49ers, Bears & Jets 'most eager' to trade back in top 10
Cameron Erving, the 2015 first-round pick, failed at center past year but will get the chance to compete for the right tackle job. With the need for a quarterback glaring, the Browns find themselves once again trying to find their franchise signal caller.
Wits students protest over accommodation
Among their complaints is the lack of WiFi access, study areas, cleaning services, a computer lab and student bus services. Vehicles within the university were diverted by police onto Yale Road towards to the Jorissen Street exit.
Barcelona fans, players, coach stay positive after CL exit
If they lose to Real Madrid again on Sunday, it would leave them six points behind their title rivals having played a game more. The three Italian defenders ensured legendary goalkeeper Gianluigi Buffon had just one save to make all night at the Nou Camp.
Celtics Expect Thomas to Rejoin Team for Game Three
In Game 2 the margin was less drastic (43-38), but still apparent with the Bulls grabbing five more defensive rebounds. Well, the Bulls are coming home to the United Center for Game 3 on Friday night and Game 4 with a 2-0 series lead.
Patriots, Trump Slam NYT Over Tweet of Team Photos
And by " Trump's team", I mean the New England Patriots, whose owner, Robert Kraft , is a longtime Trump friend. Several members of the team will not attend the ceremony because of the man whose hand they would be shaking.
Le Pen loses ground to Macron in French election race
Leading presidential candidates have urged greater counterterrorism measures in a campaign already under a state of emergency. Meanwhile, French Prime Minister Bernard Cazeneuve has shown solidarity with the policeman, who was killed in the shooting.