Things starting to get better Investment Thesis:Reiterate BUY; TP S$ 6.20, implying 1.0x P/BV. The worst is behind Keppel after all the write-downs in the past one year. There were significant operational improvements in 1H2021 and the trend should continue. The recent proposal to spin off Keppel O&M (KOM) is positive and another re-ratingcatalyst. Yard […]

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