Keppel Corporation (Keppel Corp) share price has been steadily climbing in the past few weeks, indicating a bullish market sentiment for the Singapore-based conglomerate. This comes as the Singapore stock market has been performing well in recent months, due to a continued recovery from the pandemic-induced market crash earlier this year.
Keppel Corp Overview
Keppel Corp is a multi-national conglomerate with businesses spanning the energy, infrastructure, and property sectors. It is the largest offshore and marine engineering group in the world and has operations in more than 20 countries. Its iconic projects include the world’s tallest integrated resort, Marina Bay Sands, and the world’s first offshore floating liquefied natural gas (FLNG) facility, the Prelude FLNG.
The bullish sentiment towards Keppel Corp is likely due to its consistent revenue and profits, despite the challenges brought about by the pandemic. In the first half of 2020, Keppel Corp reported a net profit of S$436 million, a 15% increase from the same period in 2019. This was driven primarily by strong performances from its property and infrastructure divisions, which offset losses from its offshore and marine division.
Furthermore, analysts are optimistic about the company’s prospects in the near future, as the offshore and marine industry is expected to benefit from a recovery in global oil prices. This could further drive Keppel Corp’s share price up in the coming months.
Overall, the outlook for Keppel Corp is positive, given its strong financial performance and the bullish sentiment in the Singapore stock market. Investors should keep an eye on the company’s share price in the coming weeks, as it could continue to climb in the near future.