SINGAPORE (Reuters) - Singapore's Keppel Corporation said on Wednesday its net profit in the first quarter dropped 5 per cent on the year to $339 million.
Keppel is the world's top offshore jackup drilling rig producer and has business in property development and infrastructure. The firm booked revenue of nearly $3 billion for the quarter, up 8.6 per cent from a year earlier, it said in a statement.
The offshore and marine division secured $1.9 billion worth of new orders in the quarter, pushing the company's net order book to a record high of $14.4 billion.
Singapore's state investor Temasek Holdings owns a stake of more than 20 per cent in Keppel.