High-quality rig builder Keppel has pricing power, but low-cost competitors are gaining traction.
No-moat Keppel’s fourth-quarter 2017 net loss of SGD 499 million was not surprising, though it includes an additional SGD 81 million provision for losses made on the Sete Brasil projects and SGD 54 million in impairment on other assets, besides the one-off impact of the financial penalty and related costs of SGD 619 million. As guided, dividends were not affected. Stripping these off, Keppel’s 2017 results were better than we expected due to robust earnings from the property, infrastructure, and...Keppel is an investment holding company. Co. is engaged in provision of management services. Through its subsidiaries, Co. is principally engaged in offshore oil-rig construction; shipbuilding; ship repair and conversion; chartering tugs and other marine services; environmental engineering; power generation; provision of broadband services; provision of telecommunication network services; trading of communication accessories; shipping operation; warehousing and distribution; property development and investment; property fund management; and investments. Co. operates four business segments: Offshore and Marine, Infrastructure, Property and Investments.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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