Keppel Corporation LimitedOTCPK - Current
Thu, Oct. 20, 9:24 AM
Thu, Jul. 21, 7:14 AM
Mon, Apr. 18, 8:13 AM
- Keppel (OTCPK:KPELF): Q1 EPS of $0.12
- Revenue of $1.74B (-38.1% Y/Y)
Thu, Jan. 21, 6:42 PM
- Keppel (OTCPK:KPELF), the world’s biggest builder of oil rigs, says it took a US$160M Q4 charge on delinquent projects connected to the Petrobras (NYSE:PBR) corruption scandal and stopped construction on six rigs for a Brazilian client that is more than a year behind on its bills.
- Sete Brasil, which was formed by and is totally dependent on PBR, also is embroiled in a corruption investigation and is deciding whether to file for bankruptcy protection after plunging oil prices dented demand for its drilling equipment.
- Sete Brasil has not paid Keppel and rival Sembcorp Marine (OTCPK:SMBMF) since November 2014, putting at risk $10.5B of orders placed with the two companies, according to Bloomberg.
Oct. 26, 2015, 8:58 AM
- A final report approved by a Brazilian congressional panel clears Petrobras (NYSE:PBR) of wrongdoing in its corruption investigation, and blames suppliers and rogue employees rather than politicians or the company.
- The report does not criticize any politicians, including those closely associated with PBR, such as Pres. Rousseff, who was chairwoman of the company's board when much of the corruption happened.
- The panel recommends an investigation into 10 foreign companies for possibly paying bribes, including Japan's Kawasaki Heavy Industries (OTCPK:KWHIY), the Brazilian unit of Singaporean oil rig builder Keppel (OTCPK:KPELF), and its Singapore-based rival Sembcorp Marine (OTCPK:SMBMF).
- Separately, Petrobras (PBR) says its board has approved the sale of a 49% stake in its Gaspetro natural gas distribution unit to Mitsui (OTCPK:MITSY) for 1.9B reais ($490M), in another step toward disposing of non-essential assets to repay debt.
- PBR also says it is suspending indefinitely its planned IPO of fuel distribution unit BR Distribuidora.
Feb. 10, 2015, 10:58 AM
- Two major Singapore shipbuilders and three Brazilian companies with Japanese shareholders are accused of paying bribes in the Petrobras (PBR -4.1%) corruption scandal, FT reports, the first time a group of international investors has been linked to the scandal that threatens to drive Brazil’s most important company into bankruptcy.
- A former director of a leasing company in charge of supplying 29 drilling rigs for Petrobras through shipbuilders made the allegations about the companies in testimony to federal police.
- The Singaporean companies, Keppel (OTCPK:KPELF) and Sembcorp Marine (OTCPK:SMBMF), denied making illegal payments.