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    Good news at Keppel Philippines Marine

    Yard News // August 11, 2000
    Keppel Philippines Marine, the subsidiary of Keppel Philippines Holdings, part of Singapore's Keppel Group, saw its net profit rose by 20 per cent, to S$783,000 in the first quarter of 2000 compared with the same period in 1999.

    The increase arose largely as a result of higher revenues from ship repair activity at Keppel Batangas Shipyard and Keppel Cebu Shipyard.

    In July, Keppel Philippines Holdings revealed that it was to reduce its capitalisation and transfer out its marine and shipyard subsidiaries, unwinding cross shareholdings with Keppel Group.

    The company's interest in marine and ship repair operations will be housed under Keppel Hitachi Zosen in Singapore in future, thus enabling the yards in the Philippines to benefit from Keppel Hitachi Zosen's extensive commercial ship repair network.

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