THEY are both world leaders in the offshore and marine engineering space, but over the past five years, home-grown Keppel Corp and Sembcorp Industries have embarked on bold strategies that have transformed them beyond building rigs for ultra-harsh sea conditions and into sustainable urban solutions providers. Read more at The Business Times.
They are both world leaders in the offshore and marine engineering space, but over the past five years, home-grown Keppel Corp and Sembcorp Industries have embarked on bold strategies that have transformed them beyond building rigs for ultra-harsh sea conditions and into sustainable urban solutions providers.
"Compared to the past when they waited for order wins, they have now developed their value chain proposition,'' he said. The group spent the past five years rightsizing and integrating Keppel Offshore & Marine's operating units, repositioning the division to capture new opportunities in the gas, production and non-drilling sectors amid the offshore sector downturn. In 2018, Keppel O&M secured S$1.7 billion worth of new orders, up from S$1.2 billion in 2017. Liquefied natural gas and scrubber projects contributed over S$600 million to new orders won last year.
"... we are further simplifying our corporate structure. This gives us better control of the group's key business verticals, and the flexibility to allocate capital more efficiently towards investments with the best risk-adjusted returns,'' Mr Loh said. Keppel is"actively exploring and investing" in new businesses such as senior living and renewable energy infrastructure, as well as expanding its presence in B2C businesses including electricity retail and urban logistics.
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