In today’s briefing:
- Keppel – Is There More to the Keppel O&M Deal than Meets the Eye?
- Farmers Launch Stir Phase II; Rubber Board Warns Of Price Fall
- REIT Watch – S-REITs navigate a challenging 2024 with mixed returns
Keppel – Is There More to the Keppel O&M Deal than Meets the Eye?
- This report aims to examine the rationale and structure of the transformative deal in February 2023 when Keppel spun out its Offshore and Marine (“O&M”) division.
This AssetCo transaction was selected because (1) The substantial size, at S$4.4bn, was equivalent to 14% of Keppel’s assets or 37% of its shareholder equity as of Dec 2022.
(2) Highly complex transaction with extremely generous financing terms granted by Keppel, which received no cash for selling legacy rigs at its carrying cost.
Farmers Launch Stir Phase II; Rubber Board Warns Of Price Fall
- Farmer body asks farmers not to go for ‘summer tapping’
- Rubber Board exhorts farmers to up tapping to discourage imports
- Farmers allege Rubber Board catering to interests of tire-makers
REIT Watch – S-REITs navigate a challenging 2024 with mixed returns
- Top 5 best performing S-REITs in 2024 Name Stock Code Market Cap S$M 2024 Insti Net Inflow S$M Dividend Yield % PB Ratio The five best performing S-REITs in 2024 in SGD terms were Frasers Hospitality Trust (+24.3 per cent total returns), Keppel DC REIT (+20.6 per cent), Stoneweg European REIT (+20.2 per cent), Elite UK REIT (+19.0 per cent), and Manulife US REIT (+15.3 per cent).
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
