SlideShare a Scribd company logo
1 of 20
Download to read offline
Annual General
Meeting
Presentation by
Mr Loh Chin Hua, CEO
23 April 2021
2
2020 Financial Performance Net Profit/(Loss)
(101)
(1,181)
483 438
136
13
214
280
(25)
(56)
FY 2019 FY 2020
Energy & Environment Urban Development
Connectivity Asset Management
Corporate & Others
707
(506)
S$m
0
S$446m
Excl. impairments
Net profit/(loss)
S$(506)m
Mainly due to impairments
in the O&M business
S$6.6b
Revenue
S$220m
Recurring income
10 cts
Total cash dividend
per share
S$497m
Free cash inflow
3
10
(1,194)
129
144
(240)
(131)
FY 2019 FY 2020
Keppel O&M Keppel Infrastructure Others
Energy & Environment
Net Profit/(Loss)
• The segment’s net loss for FY 2020 was mainly due
to losses in the O&M business
• Keppel O&M’s net loss was S$1,194m for FY 2020,
due mainly to significant impairments recorded in
2Q 2020, reduced top line from COVID-19 related
disruptions which severely impacted yard activities,
and a higher share of losses from associates
• Work has resumed at all our yards by end-2020;
Working to catch up on projects which had been
delayed due to COVID-19
• Keppel O&M’s performance improved in 1Q 2021
and it is EBITDA positive
S$m
0
i Does not include contribution from business trust
ii Includes contributions from KrisEnergy, Keppel Renewable Energy, Keppel Prince Engineering,
financing cost, impairment of an associated company and other group adjustments
(1,181)
(101)
i ii
4
Energy & Environment
i Excludes semis for Sete
Net Orderbook i
• Pivot to renewables and cleaner fossil fuels
has borne fruit
• Secured new order wins of about S$1.0b in FY 2020,
with offshore renewables and LNG solutions making
up 65% of new orders
• Net orderbook stood at S$3.3b as at end-2020,
over 80% of which comprised renewables and
gas solutions
0.7 1.0
2.4
1.7
0.1
0.2
0.2
0.2
1.0
0.2
End-2019 End-2020
Renewables Gas solutions
Specialised vessels FPSOs
Oil rigs
S$b
0
3.3
4.4
Keppel Marina East Desalination Plant
5
• Keppel Infrastructure continued to grow as a
steady contributor to the Group
• Net profiti improved to S$144m for FY 2020,
from S$129m for FY 2019
• Keppel Infrastructure secured S$2.1bii worth of
WTE and district cooling contracts across
Singapore, India and Thailand
• Keppel Marina East Desalination Plant
commenced commercial operations in June 2020
• Keppel Renewable Energy announced its first
solar farm project in Australia
Energy & Environment
i Does not include contribution from business trust
ii Based on gross contract values
6
Urban Development
• The segment recorded net profit of S$438m for FY 2020
• Keppel Land’s contributioni of S$406m for FY 2020
was 10% lower yoy mainly due to absence of
tax write-backs
• Keppel Land announced asset divestments of
~S$1.3b in 2020
• Acquired a stake in a co-living solutions provider
as well as new projects in China and India
Net Profit
452
406
38
67
(7) (35)
FY 2019 FY 2020
Keppel Land SSTEC Others
438
483
i Does not include contributions from REITs and private funds
ii Includes contributions from Keppel Urbana Solutions and other group adjustments
i
S$m
0
ii
3,400
2,110
950
550
250
370
300
140
250
170
FY 2019 FY 2020
China Vietnam Singapore Indonesia India
3,340
5,150
7
Urban Development
• Keppel Land’s home sales in FY 2020 were lower mainly due to
lower home sales in China and Vietnam
• In 1Q 2021, home sales tripled yoy, mainly due to stronger
performance across China, Vietnam and Singapore
• In FY 2020, Keppel Land announced divestments of stakes in
4 residential projects, equivalent to ~8,200 units sold en-bloc
• As at end-2020, property portfolio comprised residential
landbank of ~54,000 units, and commercial space of
~1.7 million sm GFA about half of which is under
development
• SSTEC continued to grow steadily, contributing
S$67m net profit to the Group in FY 2020
Units
0
i Refers to Keppel Land’s home sales
Home Sales i
Sales value:
S$3.2b Sales value:
S$2.5b
8
Connectivity
Net Profit
• The segment recorded a net profit of S$13m for
FY 2020
• Data Centres is a growth business for the Group
• In FY 2020, S$74m in contributions from the
data centre REIT and private fund was
segmentalised to Asset Management
• Keppel Data Centres added two new data centre
development projects in Singapore and China
11
(12)
73
65
(26)
(22)
78
(18)
FY 2019 FY 2020
Keppel Data Centres M1
Keppel Logistics Others
13
136
S$m
0
i Does not include contributions from REITs and private funds
ii Prior to Mar 2019, M1 relates to the share of associated companies’ results
iii Includes amortisation of intangibles, financing cost and other group adjustments
i ii
iii
9
• M1’s contributioni of S$65m was 11% lower yoy due to
COVID-19 impact on roaming and prepaid revenue, while
EBITDA was relatively resilient at S$264m for FY 2020
• As at end-2020, M1 had the second largest postpaid
customer base and postpaid revenue in Singapore
• M1’s transformation progressing well:
• M1 continues to roll out 5G network, collaborating
with industry leaders to conduct trials of 5G use
cases
• Refreshed brand identity and launched
new digital connectivity platform, which will
significantly improve customer experience
Connectivity
M1’s shopfront i Prior to Mar 2019, M1 relates to the share of associated companies’ results
10
Asset Management
• The segment’s net profit grew 31% yoy to S$280m for FY 2020
• Keppel Capital’s contributioni grew 6% yoy to S$85m for
FY 2020 mainly due to gains from divestments
• Asset management feesii were S$165m for
FY 2020, vs S$149m for FY 2019
• REITs & Trust’s contribution was S$193m, higher yoy
mainly due to gain from reclassification of Keppel
Infrastructure Trust
• Private funds’ contribution was lower yoy mainly due
to holdings in fewer funds
Net Profit
iii Share of results and contributions from associates and investments apart from
those held under Keppel Capital
80 85
70
193
64
2
FY 2019 FY 2020
Keppel Capital REITs & Trust Private Funds
280
S$m
0
214
i iii
i Includes 100% contribution from the manager of Keppel DC REIT
ii Includes 100% fees from subsidiary managers, joint ventures and associated entities, as
well as share of fees based on shareholding stake in associate with which Keppel has
strategic alliance
iii
• Keppel Capital grew its AUM by 12% to reach
S$37bi as at end-2020
• Despite COVID-19 related restrictions,
Keppel Capital-managed funds raised total
equity of ~S$4.5b in 2020
• Launched and achieved first close for several
funds for real estate assets, data centres,
infrastructure, education, logistics and
a mezzanine debt platform
i Gross asset value of investments and uninvested capital commitments on leveraged basis to project
fully-invested AUM
ii Includes senior living, education and logistics assets, as well as private credit fund
AUM as at End-2020
Real estate
49%
Data centres
16%
Infrastructure
19%
Alternative assetsii
16%
S$37bi
Asset Management
12
Key Questions
from Shareholders
1. Keppel’s Vision 2030
2. Transformation of Keppel O&M
3. Update on KrisEnergy
4. Sustainability
5. Directors’ fees
6. Dividends
• From a conglomerate of largely unrelated parts, we are working towards becoming one integrated business, providing
solutions for sustainable urbanisation, with an asset management arm to tap third party funds for growth and provide a
platform for capital recycling.
• Deepening intra-company collaboration and adopting a OneKeppel approach to harness the synergies of the Group and
capture new profit pools that might not be available to individual business entities.
13
ENERGY & ENVIRONMENT URBAN DEVELOPMENT CONNECTIVITY ASSET MANAGEMENT
Four focus segments
Can you share more about Keppel’s Vision 2030?
• Established Transformation Office, with a comprehensive agenda covering six workstreams: (1) growth initiatives
across four business segments (2) asset monetisation & portfolio optimisation (3) cost & cash management
(4) sustainability (5) technology & innovation (6) people & organisation.
• Launched 100-day plan, from end-Sep 2020 to early-Jan 2021, to expedite progress.
• Executing Vision 2030
• Plans to monetise S$3–5b of identified assets over three years; funds unlocked will help to reduce net gearing and
fund growth initiatives. Announced S$1.2b of divestments between Oct and Dec 2020.
• Plans to transform Keppel O&M and divest logistics business.
• New growth initiatives including onshore and offshore renewables projects, and a collaboration with Facebook and
Telin to develop the Bifrost Cable System.
• Pursuing further waves of initiatives to keep up the momentum.
14
(Continued)
Can you share more about Keppel’s Vision 2030?
15
Can you share your plans for Keppel O&M? Will you divest the business?
• Transforming Keppel O&M to be more relevant and competitive amidst the global energy transition.
• Exit offshore rigbuilding business after completing its existing uncompleted rigs; progressively exit low value-adding
repairs and other activities with low bottom-line contribution.
• Transit to being a developer and integrator of offshore energy and infrastructure assets, focusing on work with
higher value capture.
• Established a Rig Co and a Dev Co as transient entities to hold the ~S$2.9b worth of completed and uncompleted
rig assets as we work towards resolving this legacy issue.
• Undistracted by the legacy assets, Op Co, comprising the rest of Keppel O&M, can focus on transforming the company.
• Confident that over time, Keppel O&M will be a nimble industry leader, well-positioned for the global energy transition and
a strong contributor to the Group’s target ROE of 15%.
• Making good progress with organic transformation. Keppel O&M is carefully managing costs while seizing new
opportunities, and also engaging in discussions with potential buyers and charterers of its rig assets.
• Also exploring inorganic options. However, there is no assurance that any transaction will materialise.
• Keppel has supported KrisEnergy to safeguard our investment in the company, including during the consensual
restructuring exercise which commenced in 2019. In each step that we took, we have exercised caution to manage
Keppel’s risks.
• KrisEnergy recently announced that due to the significant underperformance of Cambodia Block A (CBA), contrary to
earlier projections, the consensual restructuring was no longer viable. KrisEnergy’s ability to continue as a going
concern was premised on successful CBA development and successful completion of the consensual restructuring.
• The carrying values of KCL’s investment, contract asset and loan receivable, as well as the amount outstanding under
the RCF, amount to ~S$423m.
• We are unable to accurately determine the financial impact on Keppel at this stage, as the situation requires further
analysis. Our current holding values are predicated on KrisEnergy remaining as a going concern. In a situation where
KrisEnergy can no longer continue as a going concern, there will be significant negative impact on these values.
• We will work expediently with our advisors to estimate the financial impact on Keppel, and advise the market as soon as
we can. We will ensure that Keppel’s interests and investments in KrisEnergy are protected.
16
Can you provide an update on KrisEnergy?
17
• Placed sustainability at the core of our strategy.
• Introduced a shadow carbon price in the evaluation of all major investments; set measurable targets to reduce
carbon emissions, water and waste intensity, and increase portfolio of renewable energy assets.
• Included environmental sustainability in the scorecards of senior management across the Group.
• Making sustainability our business by helping enterprises and communities become more sustainable through
the solutions provided by the Group.
Solar panels at Keppel Bay Tower’s rooftop
17
What is Keppel doing in the area of sustainability?
18
Why is there an increase in proposed directors’ fees for FY 2021?
The Reef at King’s Dock
• The proposed directors’ fees of up to S$2,491,000 for FY 2021 is close to the sum of up to S$2,480,000 approved by
shareholders for FY 2020.
• Directors’ fees eventually amounted to S$2,028,071 for FY 2020 due to the following voluntary contributions and fee
reductions undertaken by Directors:
1. All non-executive directors contributed 8% of total fees to support Keppel’s COVID-19 package to help the
Singapore community weather the pandemic.
2. The non-executive directors of Keppel Corporation and Keppel O&M volunteered for an additional 10% reduction in
their FY 2020 annual fees, as a gesture of solidarity with the CEO and senior executive management of Keppel
Corporation and management of Keppel O&M who had volunteered to take a base salary reduction of between 5%
and 10% with effect from 1 September 2020 in view of the required rightsizing of Keppel O&M.
19
The Reef at King’s Dock
• We recognise that dividends are important to our shareholders.
• Keppel does not have an explicit dividend policy but has been paying out 40–50% of annual net profit as dividends
in most years.
• Funds unlocked from the monetisation of assets will initially go toward reducing net gearing, as well as funding
growth initiatives. As we continue to progress in our asset-light model, gains from the monetisation of assets
would add to the pool of profits which we would take into account in future declarations of dividends.
• We will explore how best to create value with the surplus funds unlocked, which could include returning some
capital to shareholders over time.
What are Keppel’s plans for dividends moving forward?
20
Thank You

More Related Content

What's hot

Keppel Corporation 2H & FY 2020 Results Presentation Slides
Keppel Corporation 2H & FY 2020 Results Presentation SlidesKeppel Corporation 2H & FY 2020 Results Presentation Slides
Keppel Corporation 2H & FY 2020 Results Presentation SlidesKeppelCorporation
 
Keppel Corporation's 2H & FY 2021 Financial Results Presentation Slides
Keppel Corporation's  2H & FY 2021 Financial Results Presentation SlidesKeppel Corporation's  2H & FY 2021 Financial Results Presentation Slides
Keppel Corporation's 2H & FY 2021 Financial Results Presentation SlidesKeppelCorporation
 
Keppel Corp 1Q2020 Presentation Slides
Keppel Corp 1Q2020 Presentation SlidesKeppel Corp 1Q2020 Presentation Slides
Keppel Corp 1Q2020 Presentation SlidesKeppelCorporation
 
Keppel Capital Citi-SGX-REITAS REITs & Sponsors Forum
Keppel Capital Citi-SGX-REITAS REITs & Sponsors ForumKeppel Capital Citi-SGX-REITAS REITs & Sponsors Forum
Keppel Capital Citi-SGX-REITAS REITs & Sponsors ForumKeppelCorporation
 
Keppel Corporation's Vision 2030 Briefing to Analysts
Keppel Corporation's Vision 2030 Briefing to AnalystsKeppel Corporation's Vision 2030 Briefing to Analysts
Keppel Corporation's Vision 2030 Briefing to AnalystsKeppelCorporation
 
Keppel Corporation 2Q & 1H 2020 Results Presentation Slides
Keppel Corporation 2Q & 1H 2020 Results Presentation SlidesKeppel Corporation 2Q & 1H 2020 Results Presentation Slides
Keppel Corporation 2Q & 1H 2020 Results Presentation SlidesKeppelCorporation
 
spectra energy 4QEarningsRelease
spectra energy 4QEarningsReleasespectra energy 4QEarningsRelease
spectra energy 4QEarningsReleasefinance49
 
spectra energy 3QEarningsRelease
spectra energy 3QEarningsReleasespectra energy 3QEarningsRelease
spectra energy 3QEarningsReleasefinance49
 
Keppel Corporation 1Q 2019 Financial Results Presentation Slides
Keppel Corporation 1Q 2019 Financial Results Presentation Slides Keppel Corporation 1Q 2019 Financial Results Presentation Slides
Keppel Corporation 1Q 2019 Financial Results Presentation Slides KeppelCorporation
 
02 27-18 fourth quarter & fy 2017 financial review final
02 27-18 fourth quarter & fy 2017 financial review final02 27-18 fourth quarter & fy 2017 financial review final
02 27-18 fourth quarter & fy 2017 financial review finalAES_BigSky
 
Q4 2017 AES Corporation Earnings Conference Call
Q4 2017 AES Corporation Earnings Conference CallQ4 2017 AES Corporation Earnings Conference Call
Q4 2017 AES Corporation Earnings Conference CallAES_BigSky
 
Altera Infrastructure Q1 20 Earnings Presentation
Altera Infrastructure Q1 20 Earnings PresentationAltera Infrastructure Q1 20 Earnings Presentation
Altera Infrastructure Q1 20 Earnings Presentationsrogne
 
Altera Infrastructure ER Presentation Q2 21
Altera Infrastructure ER Presentation Q2 21Altera Infrastructure ER Presentation Q2 21
Altera Infrastructure ER Presentation Q2 21srogne
 
DOR Overview of HB247(RLS)\D (5-11-16)
DOR Overview of HB247(RLS)\D (5-11-16)DOR Overview of HB247(RLS)\D (5-11-16)
DOR Overview of HB247(RLS)\D (5-11-16)Brad Keithley
 
Sp1 financial policies presentation 6.9.14
Sp1 financial policies presentation 6.9.14Sp1 financial policies presentation 6.9.14
Sp1 financial policies presentation 6.9.14cityofevanston
 
spectra energy _2QEarningsRelease
spectra energy _2QEarningsReleasespectra energy _2QEarningsRelease
spectra energy _2QEarningsReleasefinance49
 
2013 First Half Results
2013 First Half Results2013 First Half Results
2013 First Half Resultsve-finance
 
India - Renewables - eligible overseas capital markets candidate 2015
India - Renewables - eligible overseas capital markets candidate 2015India - Renewables - eligible overseas capital markets candidate 2015
India - Renewables - eligible overseas capital markets candidate 2015Varun Sethi
 
XYZ solar power Global IPO
XYZ solar power   Global IPOXYZ solar power   Global IPO
XYZ solar power Global IPOVarun Sethi
 

What's hot (20)

Keppel Corporation 2H & FY 2020 Results Presentation Slides
Keppel Corporation 2H & FY 2020 Results Presentation SlidesKeppel Corporation 2H & FY 2020 Results Presentation Slides
Keppel Corporation 2H & FY 2020 Results Presentation Slides
 
Keppel Corporation's 2H & FY 2021 Financial Results Presentation Slides
Keppel Corporation's  2H & FY 2021 Financial Results Presentation SlidesKeppel Corporation's  2H & FY 2021 Financial Results Presentation Slides
Keppel Corporation's 2H & FY 2021 Financial Results Presentation Slides
 
Keppel Corp 1Q2020 Presentation Slides
Keppel Corp 1Q2020 Presentation SlidesKeppel Corp 1Q2020 Presentation Slides
Keppel Corp 1Q2020 Presentation Slides
 
Keppel Capital Citi-SGX-REITAS REITs & Sponsors Forum
Keppel Capital Citi-SGX-REITAS REITs & Sponsors ForumKeppel Capital Citi-SGX-REITAS REITs & Sponsors Forum
Keppel Capital Citi-SGX-REITAS REITs & Sponsors Forum
 
Keppel Corporation's Vision 2030 Briefing to Analysts
Keppel Corporation's Vision 2030 Briefing to AnalystsKeppel Corporation's Vision 2030 Briefing to Analysts
Keppel Corporation's Vision 2030 Briefing to Analysts
 
Keppel Corporation 2Q & 1H 2020 Results Presentation Slides
Keppel Corporation 2Q & 1H 2020 Results Presentation SlidesKeppel Corporation 2Q & 1H 2020 Results Presentation Slides
Keppel Corporation 2Q & 1H 2020 Results Presentation Slides
 
spectra energy 4QEarningsRelease
spectra energy 4QEarningsReleasespectra energy 4QEarningsRelease
spectra energy 4QEarningsRelease
 
spectra energy 3QEarningsRelease
spectra energy 3QEarningsReleasespectra energy 3QEarningsRelease
spectra energy 3QEarningsRelease
 
Keppel Corporation 1Q 2019 Financial Results Presentation Slides
Keppel Corporation 1Q 2019 Financial Results Presentation Slides Keppel Corporation 1Q 2019 Financial Results Presentation Slides
Keppel Corporation 1Q 2019 Financial Results Presentation Slides
 
Origin
OriginOrigin
Origin
 
02 27-18 fourth quarter & fy 2017 financial review final
02 27-18 fourth quarter & fy 2017 financial review final02 27-18 fourth quarter & fy 2017 financial review final
02 27-18 fourth quarter & fy 2017 financial review final
 
Q4 2017 AES Corporation Earnings Conference Call
Q4 2017 AES Corporation Earnings Conference CallQ4 2017 AES Corporation Earnings Conference Call
Q4 2017 AES Corporation Earnings Conference Call
 
Altera Infrastructure Q1 20 Earnings Presentation
Altera Infrastructure Q1 20 Earnings PresentationAltera Infrastructure Q1 20 Earnings Presentation
Altera Infrastructure Q1 20 Earnings Presentation
 
Altera Infrastructure ER Presentation Q2 21
Altera Infrastructure ER Presentation Q2 21Altera Infrastructure ER Presentation Q2 21
Altera Infrastructure ER Presentation Q2 21
 
DOR Overview of HB247(RLS)\D (5-11-16)
DOR Overview of HB247(RLS)\D (5-11-16)DOR Overview of HB247(RLS)\D (5-11-16)
DOR Overview of HB247(RLS)\D (5-11-16)
 
Sp1 financial policies presentation 6.9.14
Sp1 financial policies presentation 6.9.14Sp1 financial policies presentation 6.9.14
Sp1 financial policies presentation 6.9.14
 
spectra energy _2QEarningsRelease
spectra energy _2QEarningsReleasespectra energy _2QEarningsRelease
spectra energy _2QEarningsRelease
 
2013 First Half Results
2013 First Half Results2013 First Half Results
2013 First Half Results
 
India - Renewables - eligible overseas capital markets candidate 2015
India - Renewables - eligible overseas capital markets candidate 2015India - Renewables - eligible overseas capital markets candidate 2015
India - Renewables - eligible overseas capital markets candidate 2015
 
XYZ solar power Global IPO
XYZ solar power   Global IPOXYZ solar power   Global IPO
XYZ solar power Global IPO
 

Similar to Keppel Corporation Annual General Meeting CEO Presentation Slides

Keppel Corporation 2H & FY2022 Results Presentation Slides
Keppel Corporation 2H & FY2022 Results Presentation SlidesKeppel Corporation 2H & FY2022 Results Presentation Slides
Keppel Corporation 2H & FY2022 Results Presentation SlidesKeppelCorporation
 
Keppel Corporation 1Q23 Business Update
Keppel Corporation 1Q23 Business UpdateKeppel Corporation 1Q23 Business Update
Keppel Corporation 1Q23 Business UpdateKeppelCorporation
 
Keppel Corporation - Annual General Meeting CEO's Presentation Slides
Keppel Corporation - Annual General Meeting CEO's Presentation SlidesKeppel Corporation - Annual General Meeting CEO's Presentation Slides
Keppel Corporation - Annual General Meeting CEO's Presentation SlidesKeppelCorporation
 
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation Slides
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation SlidesKeppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation Slides
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation SlidesKeppelCorporation
 
Keppel Corporation US NDR Presentation Slides - May 2019
Keppel Corporation US NDR Presentation Slides - May 2019Keppel Corporation US NDR Presentation Slides - May 2019
Keppel Corporation US NDR Presentation Slides - May 2019KeppelCorporation
 
Presentation Slides for Investor Meetings, May - Jun 2021
Presentation Slides for Investor Meetings, May - Jun 2021Presentation Slides for Investor Meetings, May - Jun 2021
Presentation Slides for Investor Meetings, May - Jun 2021KeppelCorporation
 
Keppel Corporation UK Non-deal Roadshow 2019
Keppel Corporation UK Non-deal Roadshow 2019Keppel Corporation UK Non-deal Roadshow 2019
Keppel Corporation UK Non-deal Roadshow 2019KeppelCorporation
 
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow Keppel Corporation's Presentation Slides for US Non-Deal Roadshow
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow KeppelCorporation
 
KCL 4Q2019 Presentation Slides
KCL 4Q2019   Presentation SlidesKCL 4Q2019   Presentation Slides
KCL 4Q2019 Presentation SlidesKeppelCorporation
 
Briefing to Retail Shareholders Hosted by SIAS
Briefing to Retail Shareholders Hosted by SIASBriefing to Retail Shareholders Hosted by SIAS
Briefing to Retail Shareholders Hosted by SIASKeppelCorporation
 
Keppel Corporation's 1H22 Financial Results
Keppel Corporation's 1H22 Financial ResultsKeppel Corporation's 1H22 Financial Results
Keppel Corporation's 1H22 Financial ResultsKeppelCorporation
 
Keppel Corporation 3Q & 9M 2022 Business Update Presentation Slides
Keppel Corporation 3Q & 9M 2022 Business Update Presentation SlidesKeppel Corporation 3Q & 9M 2022 Business Update Presentation Slides
Keppel Corporation 3Q & 9M 2022 Business Update Presentation SlidesKeppelCorporation
 
Keppel-Ltd-2h23-fy23-presentation-slides
Keppel-Ltd-2h23-fy23-presentation-slidesKeppel-Ltd-2h23-fy23-presentation-slides
Keppel-Ltd-2h23-fy23-presentation-slidesKeppelCorporation
 
Keppel Corporation's 1Q 2022 Business Update Slides
Keppel Corporation's 1Q 2022 Business Update SlidesKeppel Corporation's 1Q 2022 Business Update Slides
Keppel Corporation's 1Q 2022 Business Update SlidesKeppelCorporation
 
Keppel Corporation's 4Q & FY 2018 Financial Results Presentation
Keppel Corporation's 4Q & FY 2018 Financial Results PresentationKeppel Corporation's 4Q & FY 2018 Financial Results Presentation
Keppel Corporation's 4Q & FY 2018 Financial Results PresentationKeppelCorporation
 
Presentation slides for investor meetings in Hong Kong
Presentation slides for investor meetings in Hong KongPresentation slides for investor meetings in Hong Kong
Presentation slides for investor meetings in Hong KongKeppelCorporation
 
Keppel Corporation 1Q 2021 business update presentation slides
Keppel Corporation 1Q 2021 business update  presentation slidesKeppel Corporation 1Q 2021 business update  presentation slides
Keppel Corporation 1Q 2021 business update presentation slidesKeppelCorporation
 
Keppel Corporation AGM 2023 Presentation Slides
Keppel Corporation AGM 2023 Presentation SlidesKeppel Corporation AGM 2023 Presentation Slides
Keppel Corporation AGM 2023 Presentation SlidesKeppelCorporation
 
Keppel Corporation AGM 2019 Presentation Slides
Keppel Corporation AGM 2019 Presentation SlidesKeppel Corporation AGM 2019 Presentation Slides
Keppel Corporation AGM 2019 Presentation SlidesKeppelCorporation
 
gcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdf
gcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdfgcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdf
gcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdfAmiraS11
 

Similar to Keppel Corporation Annual General Meeting CEO Presentation Slides (20)

Keppel Corporation 2H & FY2022 Results Presentation Slides
Keppel Corporation 2H & FY2022 Results Presentation SlidesKeppel Corporation 2H & FY2022 Results Presentation Slides
Keppel Corporation 2H & FY2022 Results Presentation Slides
 
Keppel Corporation 1Q23 Business Update
Keppel Corporation 1Q23 Business UpdateKeppel Corporation 1Q23 Business Update
Keppel Corporation 1Q23 Business Update
 
Keppel Corporation - Annual General Meeting CEO's Presentation Slides
Keppel Corporation - Annual General Meeting CEO's Presentation SlidesKeppel Corporation - Annual General Meeting CEO's Presentation Slides
Keppel Corporation - Annual General Meeting CEO's Presentation Slides
 
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation Slides
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation SlidesKeppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation Slides
Keppel Corporation Kuala Lumpur Non-Deal Roadshow Presentation Slides
 
Keppel Corporation US NDR Presentation Slides - May 2019
Keppel Corporation US NDR Presentation Slides - May 2019Keppel Corporation US NDR Presentation Slides - May 2019
Keppel Corporation US NDR Presentation Slides - May 2019
 
Presentation Slides for Investor Meetings, May - Jun 2021
Presentation Slides for Investor Meetings, May - Jun 2021Presentation Slides for Investor Meetings, May - Jun 2021
Presentation Slides for Investor Meetings, May - Jun 2021
 
Keppel Corporation UK Non-deal Roadshow 2019
Keppel Corporation UK Non-deal Roadshow 2019Keppel Corporation UK Non-deal Roadshow 2019
Keppel Corporation UK Non-deal Roadshow 2019
 
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow Keppel Corporation's Presentation Slides for US Non-Deal Roadshow
Keppel Corporation's Presentation Slides for US Non-Deal Roadshow
 
KCL 4Q2019 Presentation Slides
KCL 4Q2019   Presentation SlidesKCL 4Q2019   Presentation Slides
KCL 4Q2019 Presentation Slides
 
Briefing to Retail Shareholders Hosted by SIAS
Briefing to Retail Shareholders Hosted by SIASBriefing to Retail Shareholders Hosted by SIAS
Briefing to Retail Shareholders Hosted by SIAS
 
Keppel Corporation's 1H22 Financial Results
Keppel Corporation's 1H22 Financial ResultsKeppel Corporation's 1H22 Financial Results
Keppel Corporation's 1H22 Financial Results
 
Keppel Corporation 3Q & 9M 2022 Business Update Presentation Slides
Keppel Corporation 3Q & 9M 2022 Business Update Presentation SlidesKeppel Corporation 3Q & 9M 2022 Business Update Presentation Slides
Keppel Corporation 3Q & 9M 2022 Business Update Presentation Slides
 
Keppel-Ltd-2h23-fy23-presentation-slides
Keppel-Ltd-2h23-fy23-presentation-slidesKeppel-Ltd-2h23-fy23-presentation-slides
Keppel-Ltd-2h23-fy23-presentation-slides
 
Keppel Corporation's 1Q 2022 Business Update Slides
Keppel Corporation's 1Q 2022 Business Update SlidesKeppel Corporation's 1Q 2022 Business Update Slides
Keppel Corporation's 1Q 2022 Business Update Slides
 
Keppel Corporation's 4Q & FY 2018 Financial Results Presentation
Keppel Corporation's 4Q & FY 2018 Financial Results PresentationKeppel Corporation's 4Q & FY 2018 Financial Results Presentation
Keppel Corporation's 4Q & FY 2018 Financial Results Presentation
 
Presentation slides for investor meetings in Hong Kong
Presentation slides for investor meetings in Hong KongPresentation slides for investor meetings in Hong Kong
Presentation slides for investor meetings in Hong Kong
 
Keppel Corporation 1Q 2021 business update presentation slides
Keppel Corporation 1Q 2021 business update  presentation slidesKeppel Corporation 1Q 2021 business update  presentation slides
Keppel Corporation 1Q 2021 business update presentation slides
 
Keppel Corporation AGM 2023 Presentation Slides
Keppel Corporation AGM 2023 Presentation SlidesKeppel Corporation AGM 2023 Presentation Slides
Keppel Corporation AGM 2023 Presentation Slides
 
Keppel Corporation AGM 2019 Presentation Slides
Keppel Corporation AGM 2019 Presentation SlidesKeppel Corporation AGM 2019 Presentation Slides
Keppel Corporation AGM 2019 Presentation Slides
 
gcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdf
gcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdfgcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdf
gcat-sias-keppel-briefing-to-retail-shareholders-2022-presentation.pdf
 

More from KeppelCorporation

Presentation on proposed acquisition of leading European asset manager Aermon...
Presentation on proposed acquisition of leading European asset manager Aermon...Presentation on proposed acquisition of leading European asset manager Aermon...
Presentation on proposed acquisition of leading European asset manager Aermon...KeppelCorporation
 
Keppel 3Q & 9M 2023 Business Update Presentation Slides
Keppel 3Q & 9M 2023 Business Update Presentation SlidesKeppel 3Q & 9M 2023 Business Update Presentation Slides
Keppel 3Q & 9M 2023 Business Update Presentation SlidesKeppelCorporation
 
Keppel Corporation non-deal roadshow slides
Keppel Corporation non-deal roadshow slidesKeppel Corporation non-deal roadshow slides
Keppel Corporation non-deal roadshow slidesKeppelCorporation
 
SIAS-Keppel Briefing to Retail Shareholders 2023.pdf
SIAS-Keppel Briefing to Retail Shareholders 2023.pdfSIAS-Keppel Briefing to Retail Shareholders 2023.pdf
SIAS-Keppel Briefing to Retail Shareholders 2023.pdfKeppelCorporation
 
Keppel Corporation 1H 2023 Financial Results Presentation
Keppel Corporation 1H 2023 Financial Results PresentationKeppel Corporation 1H 2023 Financial Results Presentation
Keppel Corporation 1H 2023 Financial Results PresentationKeppelCorporation
 
Keppel Corporation - Briefing to media and analysts on accelerating transform...
Keppel Corporation - Briefing to media and analysts on accelerating transform...Keppel Corporation - Briefing to media and analysts on accelerating transform...
Keppel Corporation - Briefing to media and analysts on accelerating transform...KeppelCorporation
 
Presentation at Citi-SGX-REITAS REITs Sponsors Forum
Presentation at Citi-SGX-REITAS REITs Sponsors ForumPresentation at Citi-SGX-REITAS REITs Sponsors Forum
Presentation at Citi-SGX-REITAS REITs Sponsors ForumKeppelCorporation
 
Keppel Capital's Presentation Slides for REITs Symposium in Singapore
Keppel Capital's Presentation Slides for REITs Symposium in SingaporeKeppel Capital's Presentation Slides for REITs Symposium in Singapore
Keppel Capital's Presentation Slides for REITs Symposium in SingaporeKeppelCorporation
 
Keppel Corporation signs definitive agreements in connection with proposed co...
Keppel Corporation signs definitive agreements in connection with proposed co...Keppel Corporation signs definitive agreements in connection with proposed co...
Keppel Corporation signs definitive agreements in connection with proposed co...KeppelCorporation
 
Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...
Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...
Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...KeppelCorporation
 
Pesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-media
Pesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-mediaPesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-media
Pesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-mediaKeppelCorporation
 
Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...
Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...
Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...KeppelCorporation
 
Keppel Capital Singapore REITs Symposium 2021
Keppel Capital Singapore REITs Symposium 2021Keppel Capital Singapore REITs Symposium 2021
Keppel Capital Singapore REITs Symposium 2021KeppelCorporation
 
Keppel Capital Virtual Corporate Day Presentation Slides
Keppel Capital Virtual Corporate Day Presentation SlidesKeppel Capital Virtual Corporate Day Presentation Slides
Keppel Capital Virtual Corporate Day Presentation SlidesKeppelCorporation
 
Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...
Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...
Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...KeppelCorporation
 

More from KeppelCorporation (15)

Presentation on proposed acquisition of leading European asset manager Aermon...
Presentation on proposed acquisition of leading European asset manager Aermon...Presentation on proposed acquisition of leading European asset manager Aermon...
Presentation on proposed acquisition of leading European asset manager Aermon...
 
Keppel 3Q & 9M 2023 Business Update Presentation Slides
Keppel 3Q & 9M 2023 Business Update Presentation SlidesKeppel 3Q & 9M 2023 Business Update Presentation Slides
Keppel 3Q & 9M 2023 Business Update Presentation Slides
 
Keppel Corporation non-deal roadshow slides
Keppel Corporation non-deal roadshow slidesKeppel Corporation non-deal roadshow slides
Keppel Corporation non-deal roadshow slides
 
SIAS-Keppel Briefing to Retail Shareholders 2023.pdf
SIAS-Keppel Briefing to Retail Shareholders 2023.pdfSIAS-Keppel Briefing to Retail Shareholders 2023.pdf
SIAS-Keppel Briefing to Retail Shareholders 2023.pdf
 
Keppel Corporation 1H 2023 Financial Results Presentation
Keppel Corporation 1H 2023 Financial Results PresentationKeppel Corporation 1H 2023 Financial Results Presentation
Keppel Corporation 1H 2023 Financial Results Presentation
 
Keppel Corporation - Briefing to media and analysts on accelerating transform...
Keppel Corporation - Briefing to media and analysts on accelerating transform...Keppel Corporation - Briefing to media and analysts on accelerating transform...
Keppel Corporation - Briefing to media and analysts on accelerating transform...
 
Presentation at Citi-SGX-REITAS REITs Sponsors Forum
Presentation at Citi-SGX-REITAS REITs Sponsors ForumPresentation at Citi-SGX-REITAS REITs Sponsors Forum
Presentation at Citi-SGX-REITAS REITs Sponsors Forum
 
Keppel Capital's Presentation Slides for REITs Symposium in Singapore
Keppel Capital's Presentation Slides for REITs Symposium in SingaporeKeppel Capital's Presentation Slides for REITs Symposium in Singapore
Keppel Capital's Presentation Slides for REITs Symposium in Singapore
 
Keppel Corporation signs definitive agreements in connection with proposed co...
Keppel Corporation signs definitive agreements in connection with proposed co...Keppel Corporation signs definitive agreements in connection with proposed co...
Keppel Corporation signs definitive agreements in connection with proposed co...
 
Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...
Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...
Keppel Corporation & Sembcorp Marine Sign Definitive Agreements For Proposed ...
 
Pesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-media
Pesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-mediaPesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-media
Pesentation Slides on Keppel Pegasus' Final Consideration for SPH ex-media
 
Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...
Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...
Investor Presentation on Acquisition of Singapore Press Holdings Limited excl...
 
Keppel Capital Singapore REITs Symposium 2021
Keppel Capital Singapore REITs Symposium 2021Keppel Capital Singapore REITs Symposium 2021
Keppel Capital Singapore REITs Symposium 2021
 
Keppel Capital Virtual Corporate Day Presentation Slides
Keppel Capital Virtual Corporate Day Presentation SlidesKeppel Capital Virtual Corporate Day Presentation Slides
Keppel Capital Virtual Corporate Day Presentation Slides
 
Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...
Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...
Keppel Corporation’s Presentation to Investors at the CS-SGX ESG-Real Estate ...
 

Recently uploaded

How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...Hector Del Castillo, CPM, CPMM
 
Jewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreJewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreNZSG
 
MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024Chandresh Chudasama
 
How to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your BusinessHow to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your BusinessHelp Desk Migration
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfJamesConcepcion7
 
Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Nihal Nishadul
 
Unveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesUnveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesDoe Paoro
 
Driving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerDriving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerAggregage
 
Fundamentals Welcome and Inclusive DEIB
Fundamentals Welcome and  Inclusive DEIBFundamentals Welcome and  Inclusive DEIB
Fundamentals Welcome and Inclusive DEIBGregory DeShields
 
Vladyslav Fliahin: Applications of Gen AI in CV (UA)
Vladyslav Fliahin: Applications of Gen AI in CV (UA)Vladyslav Fliahin: Applications of Gen AI in CV (UA)
Vladyslav Fliahin: Applications of Gen AI in CV (UA)Lviv Startup Club
 
Healthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare NewsletterHealthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare NewsletterJamesConcepcion7
 
Customizable Contents Restoration Training
Customizable Contents Restoration TrainingCustomizable Contents Restoration Training
Customizable Contents Restoration TrainingCalvinarnold843
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdfShaun Heinrichs
 
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfDarshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfShashank Mehta
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersPeter Horsten
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsKnowledgeSeed
 
digital marketing , introduction of digital marketing
digital marketing , introduction of digital marketingdigital marketing , introduction of digital marketing
digital marketing , introduction of digital marketingrajputmeenakshi733
 
Simplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business LoansSimplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business LoansNugget Global
 

Recently uploaded (20)

How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
How Generative AI Is Transforming Your Business | Byond Growth Insights | Apr...
 
Jewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource CentreJewish Resources in the Family Resource Centre
Jewish Resources in the Family Resource Centre
 
MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024MEP Plans in Construction of Building and Industrial Projects 2024
MEP Plans in Construction of Building and Industrial Projects 2024
 
WAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdfWAM Corporate Presentation April 12 2024.pdf
WAM Corporate Presentation April 12 2024.pdf
 
How to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your BusinessHow to Conduct a Service Gap Analysis for Your Business
How to Conduct a Service Gap Analysis for Your Business
 
WSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdfWSMM Media and Entertainment Feb_March_Final.pdf
WSMM Media and Entertainment Feb_March_Final.pdf
 
Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024Ivey Leveraging Information Technology MBA 2024
Ivey Leveraging Information Technology MBA 2024
 
Unveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic ExperiencesUnveiling the Soundscape Music for Psychedelic Experiences
Unveiling the Soundscape Music for Psychedelic Experiences
 
Driving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon HarmerDriving Business Impact for PMs with Jon Harmer
Driving Business Impact for PMs with Jon Harmer
 
Fundamentals Welcome and Inclusive DEIB
Fundamentals Welcome and  Inclusive DEIBFundamentals Welcome and  Inclusive DEIB
Fundamentals Welcome and Inclusive DEIB
 
Vladyslav Fliahin: Applications of Gen AI in CV (UA)
Vladyslav Fliahin: Applications of Gen AI in CV (UA)Vladyslav Fliahin: Applications of Gen AI in CV (UA)
Vladyslav Fliahin: Applications of Gen AI in CV (UA)
 
Authentically Social - presented by Corey Perlman
Authentically Social - presented by Corey PerlmanAuthentically Social - presented by Corey Perlman
Authentically Social - presented by Corey Perlman
 
Healthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare NewsletterHealthcare Feb. & Mar. Healthcare Newsletter
Healthcare Feb. & Mar. Healthcare Newsletter
 
Customizable Contents Restoration Training
Customizable Contents Restoration TrainingCustomizable Contents Restoration Training
Customizable Contents Restoration Training
 
1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf1911 Gold Corporate Presentation Apr 2024.pdf
1911 Gold Corporate Presentation Apr 2024.pdf
 
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdfDarshan Hiranandani (Son of Niranjan Hiranandani).pdf
Darshan Hiranandani (Son of Niranjan Hiranandani).pdf
 
EUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exportersEUDR Info Meeting Ethiopian coffee exporters
EUDR Info Meeting Ethiopian coffee exporters
 
Introducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applicationsIntroducing the Analogic framework for business planning applications
Introducing the Analogic framework for business planning applications
 
digital marketing , introduction of digital marketing
digital marketing , introduction of digital marketingdigital marketing , introduction of digital marketing
digital marketing , introduction of digital marketing
 
Simplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business LoansSimplify Your Funding: Quick and Easy Business Loans
Simplify Your Funding: Quick and Easy Business Loans
 

Keppel Corporation Annual General Meeting CEO Presentation Slides

  • 1. Annual General Meeting Presentation by Mr Loh Chin Hua, CEO 23 April 2021
  • 2. 2 2020 Financial Performance Net Profit/(Loss) (101) (1,181) 483 438 136 13 214 280 (25) (56) FY 2019 FY 2020 Energy & Environment Urban Development Connectivity Asset Management Corporate & Others 707 (506) S$m 0 S$446m Excl. impairments Net profit/(loss) S$(506)m Mainly due to impairments in the O&M business S$6.6b Revenue S$220m Recurring income 10 cts Total cash dividend per share S$497m Free cash inflow
  • 3. 3 10 (1,194) 129 144 (240) (131) FY 2019 FY 2020 Keppel O&M Keppel Infrastructure Others Energy & Environment Net Profit/(Loss) • The segment’s net loss for FY 2020 was mainly due to losses in the O&M business • Keppel O&M’s net loss was S$1,194m for FY 2020, due mainly to significant impairments recorded in 2Q 2020, reduced top line from COVID-19 related disruptions which severely impacted yard activities, and a higher share of losses from associates • Work has resumed at all our yards by end-2020; Working to catch up on projects which had been delayed due to COVID-19 • Keppel O&M’s performance improved in 1Q 2021 and it is EBITDA positive S$m 0 i Does not include contribution from business trust ii Includes contributions from KrisEnergy, Keppel Renewable Energy, Keppel Prince Engineering, financing cost, impairment of an associated company and other group adjustments (1,181) (101) i ii
  • 4. 4 Energy & Environment i Excludes semis for Sete Net Orderbook i • Pivot to renewables and cleaner fossil fuels has borne fruit • Secured new order wins of about S$1.0b in FY 2020, with offshore renewables and LNG solutions making up 65% of new orders • Net orderbook stood at S$3.3b as at end-2020, over 80% of which comprised renewables and gas solutions 0.7 1.0 2.4 1.7 0.1 0.2 0.2 0.2 1.0 0.2 End-2019 End-2020 Renewables Gas solutions Specialised vessels FPSOs Oil rigs S$b 0 3.3 4.4
  • 5. Keppel Marina East Desalination Plant 5 • Keppel Infrastructure continued to grow as a steady contributor to the Group • Net profiti improved to S$144m for FY 2020, from S$129m for FY 2019 • Keppel Infrastructure secured S$2.1bii worth of WTE and district cooling contracts across Singapore, India and Thailand • Keppel Marina East Desalination Plant commenced commercial operations in June 2020 • Keppel Renewable Energy announced its first solar farm project in Australia Energy & Environment i Does not include contribution from business trust ii Based on gross contract values
  • 6. 6 Urban Development • The segment recorded net profit of S$438m for FY 2020 • Keppel Land’s contributioni of S$406m for FY 2020 was 10% lower yoy mainly due to absence of tax write-backs • Keppel Land announced asset divestments of ~S$1.3b in 2020 • Acquired a stake in a co-living solutions provider as well as new projects in China and India Net Profit 452 406 38 67 (7) (35) FY 2019 FY 2020 Keppel Land SSTEC Others 438 483 i Does not include contributions from REITs and private funds ii Includes contributions from Keppel Urbana Solutions and other group adjustments i S$m 0 ii
  • 7. 3,400 2,110 950 550 250 370 300 140 250 170 FY 2019 FY 2020 China Vietnam Singapore Indonesia India 3,340 5,150 7 Urban Development • Keppel Land’s home sales in FY 2020 were lower mainly due to lower home sales in China and Vietnam • In 1Q 2021, home sales tripled yoy, mainly due to stronger performance across China, Vietnam and Singapore • In FY 2020, Keppel Land announced divestments of stakes in 4 residential projects, equivalent to ~8,200 units sold en-bloc • As at end-2020, property portfolio comprised residential landbank of ~54,000 units, and commercial space of ~1.7 million sm GFA about half of which is under development • SSTEC continued to grow steadily, contributing S$67m net profit to the Group in FY 2020 Units 0 i Refers to Keppel Land’s home sales Home Sales i Sales value: S$3.2b Sales value: S$2.5b
  • 8. 8 Connectivity Net Profit • The segment recorded a net profit of S$13m for FY 2020 • Data Centres is a growth business for the Group • In FY 2020, S$74m in contributions from the data centre REIT and private fund was segmentalised to Asset Management • Keppel Data Centres added two new data centre development projects in Singapore and China 11 (12) 73 65 (26) (22) 78 (18) FY 2019 FY 2020 Keppel Data Centres M1 Keppel Logistics Others 13 136 S$m 0 i Does not include contributions from REITs and private funds ii Prior to Mar 2019, M1 relates to the share of associated companies’ results iii Includes amortisation of intangibles, financing cost and other group adjustments i ii iii
  • 9. 9 • M1’s contributioni of S$65m was 11% lower yoy due to COVID-19 impact on roaming and prepaid revenue, while EBITDA was relatively resilient at S$264m for FY 2020 • As at end-2020, M1 had the second largest postpaid customer base and postpaid revenue in Singapore • M1’s transformation progressing well: • M1 continues to roll out 5G network, collaborating with industry leaders to conduct trials of 5G use cases • Refreshed brand identity and launched new digital connectivity platform, which will significantly improve customer experience Connectivity M1’s shopfront i Prior to Mar 2019, M1 relates to the share of associated companies’ results
  • 10. 10 Asset Management • The segment’s net profit grew 31% yoy to S$280m for FY 2020 • Keppel Capital’s contributioni grew 6% yoy to S$85m for FY 2020 mainly due to gains from divestments • Asset management feesii were S$165m for FY 2020, vs S$149m for FY 2019 • REITs & Trust’s contribution was S$193m, higher yoy mainly due to gain from reclassification of Keppel Infrastructure Trust • Private funds’ contribution was lower yoy mainly due to holdings in fewer funds Net Profit iii Share of results and contributions from associates and investments apart from those held under Keppel Capital 80 85 70 193 64 2 FY 2019 FY 2020 Keppel Capital REITs & Trust Private Funds 280 S$m 0 214 i iii i Includes 100% contribution from the manager of Keppel DC REIT ii Includes 100% fees from subsidiary managers, joint ventures and associated entities, as well as share of fees based on shareholding stake in associate with which Keppel has strategic alliance iii
  • 11. • Keppel Capital grew its AUM by 12% to reach S$37bi as at end-2020 • Despite COVID-19 related restrictions, Keppel Capital-managed funds raised total equity of ~S$4.5b in 2020 • Launched and achieved first close for several funds for real estate assets, data centres, infrastructure, education, logistics and a mezzanine debt platform i Gross asset value of investments and uninvested capital commitments on leveraged basis to project fully-invested AUM ii Includes senior living, education and logistics assets, as well as private credit fund AUM as at End-2020 Real estate 49% Data centres 16% Infrastructure 19% Alternative assetsii 16% S$37bi Asset Management
  • 12. 12 Key Questions from Shareholders 1. Keppel’s Vision 2030 2. Transformation of Keppel O&M 3. Update on KrisEnergy 4. Sustainability 5. Directors’ fees 6. Dividends
  • 13. • From a conglomerate of largely unrelated parts, we are working towards becoming one integrated business, providing solutions for sustainable urbanisation, with an asset management arm to tap third party funds for growth and provide a platform for capital recycling. • Deepening intra-company collaboration and adopting a OneKeppel approach to harness the synergies of the Group and capture new profit pools that might not be available to individual business entities. 13 ENERGY & ENVIRONMENT URBAN DEVELOPMENT CONNECTIVITY ASSET MANAGEMENT Four focus segments Can you share more about Keppel’s Vision 2030?
  • 14. • Established Transformation Office, with a comprehensive agenda covering six workstreams: (1) growth initiatives across four business segments (2) asset monetisation & portfolio optimisation (3) cost & cash management (4) sustainability (5) technology & innovation (6) people & organisation. • Launched 100-day plan, from end-Sep 2020 to early-Jan 2021, to expedite progress. • Executing Vision 2030 • Plans to monetise S$3–5b of identified assets over three years; funds unlocked will help to reduce net gearing and fund growth initiatives. Announced S$1.2b of divestments between Oct and Dec 2020. • Plans to transform Keppel O&M and divest logistics business. • New growth initiatives including onshore and offshore renewables projects, and a collaboration with Facebook and Telin to develop the Bifrost Cable System. • Pursuing further waves of initiatives to keep up the momentum. 14 (Continued) Can you share more about Keppel’s Vision 2030?
  • 15. 15 Can you share your plans for Keppel O&M? Will you divest the business? • Transforming Keppel O&M to be more relevant and competitive amidst the global energy transition. • Exit offshore rigbuilding business after completing its existing uncompleted rigs; progressively exit low value-adding repairs and other activities with low bottom-line contribution. • Transit to being a developer and integrator of offshore energy and infrastructure assets, focusing on work with higher value capture. • Established a Rig Co and a Dev Co as transient entities to hold the ~S$2.9b worth of completed and uncompleted rig assets as we work towards resolving this legacy issue. • Undistracted by the legacy assets, Op Co, comprising the rest of Keppel O&M, can focus on transforming the company. • Confident that over time, Keppel O&M will be a nimble industry leader, well-positioned for the global energy transition and a strong contributor to the Group’s target ROE of 15%. • Making good progress with organic transformation. Keppel O&M is carefully managing costs while seizing new opportunities, and also engaging in discussions with potential buyers and charterers of its rig assets. • Also exploring inorganic options. However, there is no assurance that any transaction will materialise.
  • 16. • Keppel has supported KrisEnergy to safeguard our investment in the company, including during the consensual restructuring exercise which commenced in 2019. In each step that we took, we have exercised caution to manage Keppel’s risks. • KrisEnergy recently announced that due to the significant underperformance of Cambodia Block A (CBA), contrary to earlier projections, the consensual restructuring was no longer viable. KrisEnergy’s ability to continue as a going concern was premised on successful CBA development and successful completion of the consensual restructuring. • The carrying values of KCL’s investment, contract asset and loan receivable, as well as the amount outstanding under the RCF, amount to ~S$423m. • We are unable to accurately determine the financial impact on Keppel at this stage, as the situation requires further analysis. Our current holding values are predicated on KrisEnergy remaining as a going concern. In a situation where KrisEnergy can no longer continue as a going concern, there will be significant negative impact on these values. • We will work expediently with our advisors to estimate the financial impact on Keppel, and advise the market as soon as we can. We will ensure that Keppel’s interests and investments in KrisEnergy are protected. 16 Can you provide an update on KrisEnergy?
  • 17. 17 • Placed sustainability at the core of our strategy. • Introduced a shadow carbon price in the evaluation of all major investments; set measurable targets to reduce carbon emissions, water and waste intensity, and increase portfolio of renewable energy assets. • Included environmental sustainability in the scorecards of senior management across the Group. • Making sustainability our business by helping enterprises and communities become more sustainable through the solutions provided by the Group. Solar panels at Keppel Bay Tower’s rooftop 17 What is Keppel doing in the area of sustainability?
  • 18. 18 Why is there an increase in proposed directors’ fees for FY 2021? The Reef at King’s Dock • The proposed directors’ fees of up to S$2,491,000 for FY 2021 is close to the sum of up to S$2,480,000 approved by shareholders for FY 2020. • Directors’ fees eventually amounted to S$2,028,071 for FY 2020 due to the following voluntary contributions and fee reductions undertaken by Directors: 1. All non-executive directors contributed 8% of total fees to support Keppel’s COVID-19 package to help the Singapore community weather the pandemic. 2. The non-executive directors of Keppel Corporation and Keppel O&M volunteered for an additional 10% reduction in their FY 2020 annual fees, as a gesture of solidarity with the CEO and senior executive management of Keppel Corporation and management of Keppel O&M who had volunteered to take a base salary reduction of between 5% and 10% with effect from 1 September 2020 in view of the required rightsizing of Keppel O&M.
  • 19. 19 The Reef at King’s Dock • We recognise that dividends are important to our shareholders. • Keppel does not have an explicit dividend policy but has been paying out 40–50% of annual net profit as dividends in most years. • Funds unlocked from the monetisation of assets will initially go toward reducing net gearing, as well as funding growth initiatives. As we continue to progress in our asset-light model, gains from the monetisation of assets would add to the pool of profits which we would take into account in future declarations of dividends. • We will explore how best to create value with the surplus funds unlocked, which could include returning some capital to shareholders over time. What are Keppel’s plans for dividends moving forward?