Stock Name: Kep Corp
Company Name: KEPPEL CORPORATION LIMITED
Research House: Phillip Securities
Adds property, infrastructure businesses expected to perform well in next 3 years; “with strong operating cash flows from its various businesses, we anticipate Keppel will pay dividends of $0.41, $0.44 and $0.46 per ordinary share in FY10, FY11, and FY12.”
Company Name: KEPPEL CORPORATION LIMITED
Research House: Phillip Securities
Phillip Securities initiates Keppel Corp. (BN4.SG) at Buy with $12.52 target; “we feel that the outlook for Keppel is good as the increase in oil prices has led to more orders for oil rigs and production platforms. We also expect Keppel to win orders to build some of the 28 rigs for Petrobras.”
Adds property, infrastructure businesses expected to perform well in next 3 years; “with strong operating cash flows from its various businesses, we anticipate Keppel will pay dividends of $0.41, $0.44 and $0.46 per ordinary share in FY10, FY11, and FY12.”
Tips on-year increase in net profit of 9.6%, 2.3%, 4.0% for FY10, FY11, FY12 respectively from FY09 net profit of $1.265 billion. Shares last +0.7% at $10.90.
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