Keppel Corp pops the champagne on $6.7b order wins

Beats analyst's expectations of $6b.

According to DBS, Keppel Corp has sealed the jack up deal with long-standing customer, Transocean, consisting of five firm orders worth US$1.1bn plus five options.

DBS said the latest contracts lift Keppel’s YTD wins to S$6.7bn, surpassing its expectation of S$6bn.

Here's more:

We have raised our FY13 order win assumption to S$6.7bn accordingly and will revise this as and when Keppel announces new contracts in the coming 1.5 months before the year end.

Our forecast is largely unchanged as earnings impact will be from 2015 onwards.

To recap, Keppel’s potential order pipeline which are at advance stages includes: 1) PEMEX’s six jack up orders totaling US$1.3bn; 2) Golar’s FLNG projects following the recent conclusion of FEED study; and 3) potential its first drillship contract.

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