Company briefs Toyota, Keppel Offshore & Marine, Air France-KLM
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Toyota
Toyota Motor will cut its global production plan by about 100,000 to roughly 850,000 vehicles next month due to the semiconductor shortage, it said yesterday. The company did not change its estimate of producing about 9.7 million vehicles worldwide by March next year.
The automaker also announced additional domestic factory line suspension due to supply shortage triggered by the Covid-19 lockdown in Shanghai. The additional suspension will be up to five days between today and June 3, affecting 16 lines at 10 factories for this month and next month in total.
REUTERS
Keppel Offshore & Marine
Keppel Offshore & Marine's (O&M) wholly owned subsidiaries have signed contracts for the bareboat charter of two KFELS B Class rigs.
In a statement yesterday, Keppel Corp said the jackup rigs will be chartered to "an established drilling company" in the Middle East for deployment in Q4 2022 for three years, with options for a year's extension.
Including the options for extension and modification works to prepare the rigs for on-site preparations, total revenue for the charters is expected to be up to $120 million.
BUSINESS TIMES
Air France-KLM
Air France-KLM plans to sell about €2.26 billion (S$3.3 billion) of new shares to shore up its balance sheet and repay a chunk of the state aid that helped the carrier survive the Covid-19 crisis.
The proceeds of the planned rights issue will be used to reimburse about €1.7 billion of subordinate bonds issued in April last year and held by the French government, and to further reduce the company's debt, the Franco-Dutch airline said in a statement yesterday.
The subscription period is set from Friday to June 9.
BLOOMBERG
