Keppel Corp. unveils share buyback worth S$500 Mn.

The Singapore-based conglomerate Keppel Corporation announces a share buyback program worth 500 million Singapore dollars after a registering phenomenal Net profit of S$ 1.02 billion which roughly amounts to almost 371 million US$ last year. This indicates some serious exponential growth of the company. It is a good sign for its stakeholders as it redeems itself from the harrowing consequences it suffered in 2020 when it registered a loss of S$505.9 million. The Keppel Bay headquartered company not only offers its services in Infrastructure but also in offshore and maritime ventures along with asset managing businesses. With this exceptional result last year, Company’s revenue rose to S$8.62 billion from S$6.57 billion. The company in its statement stated that it intends to hold the share repurchased as treasury shares which will be further used as possible currency for future activities.