STRATEGIC reviews tend to be hit-or-miss for corporations – and their investors. But the transformation of Keppel and Sembcorp Industries appears to have paid off so far for the two former oil-and-gas bigwigs.
Their respective revamps first surfaced in June 2021, as they explored the combination of their offshore and marine (O&M) units, after Keppel unveiled its plans to exit the rig business and pivot to clean energy.
The deal was completed in February 2023, but both companies had more strategic changes up their sleeves.
In May 2023, Keppel said it would transform itself from a conglomerate to a global alternative asset manager. The company set itself a target of S$100 billion in assets…
