Fri, November 16, 2018 – 5:46 PM
ONE of the offshore and marine units of Keppel Corp. have mutually terminated a newly built asset project with a world oil and gas service company unpublished on Friday, the primary group announced.
Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine, has delivered a settlement agreement with the client about the employment contract for integration and commissioning, revealed Keppel Corp.
The group said that Keppel FELS was paid for 30 percent of the work that was completed, covering the costs generated with margins in the project, which earned $ 165 million.
The impact on the order book is S $ 47 million, Business hours understand The net book of the offshore and marine division of Keppel Corp, excluding certain platforms, was S $ 4.4 million, on September 30.
The group said the termination of the project will not have any material impact on its liquid national assets and earnings per share for the year until December 31, and it is not expected to result in a decline.
Keppel Corp closed for S $ 0.06, or 0.97 percent, at S $ 6.26, before the announcement.