Keppel Corp’s offshore and marine division broke even in the third quarter despite the general market downturn.
The Singapore-listed group saw its offshore arm post a pre-tax profit of $1m, compared to $21m as a result of lower operating results and revenue.
Turnover from Keppel Offshore & Marine stood at $380m, a decline of $136m year-on-year.
Loh Chin Hua, chief executive of Keppel Corp, takes a cautious stance towards positive signs of recovery.
