Keppel's investment in Floatel up to $284m carrying value

It reported a net profit of US$551m in Q1.

Floatel International's financial results for Q4 in 2020 and Q1 in 2021 shows that it will have a net positive financial impact on Keppel Corporation of around $187m.

According to local media, the carrying value of Keppel's investment in Floatel will be almost triple at around $284 milllion as a result of equity accounting.

This is compared to the recorded figure of $96m as of 31 December 2020.

Keppel reported a US$551m net profit for Q1, which includes restructuring gain of around US$578m.

It was reported that Keppel will equity account for the Q1 results of $241m, which includes its estimated $269m restructuring gain share.

In Q4 of 2020, Floatel recorded an additional impairment of its vessels at around US$81m. An equity account will be done by Keppel for about $54m.

Based on the consensual transaction for Floatel's restructuring, wholly-owned subsidiary FELS Offshore retained 49.92% stake in Floatel and also forgave a US$24m loan.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia