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Keppel warns of ‘adverse’ impact in first half of 2020

Results due on July 30 will be ‘significantly and adversely impacted’ the group said. The impairments are based on an assessment of the carrying values of certain of its assets including the recoverability of contract assets, receivable balances and stocks under work-in-progress, Keppel added

The group noted that with the highly volatile environment and low oil prices, oil majors are curtailing exploration and production spending, and this has had an impact on its offshore and marine business

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