Keppel Offshore and Marine (Keppel O&M) slumped into a heavy loss in the second quarter due to impairments and weak business performance amid the Covid-19 pandemic.
The report comes less than a week after parent Keppel Corp warned that it would report a significant adverse impact as Covid-19 hit its business.
Keppel O&M, one of the world’s largest rig builders and repair yards, recorded a net loss of SGD 962m ($700m) compared with a profit of SGD 4m in the same period of 2019.
