With overcapacity in the global shipyard business, analysts said yesterday that Temasek Holdings' proposed $4.08 billion deal to take majority control of Keppel Corporation could pave the way for consolidation in Singapore's offshore and marine industry.
"Competition is only expected to increase as Chinese and South Korean shipyards continue to consolidate, thus creating industry heavyweights with a significantly larger footprint," said KGI Securities Singapore research head Joel Ng.
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