Commentary
Merging Keppel's O&M unit with Sembmarine a win-win solution
The new entity will be a world-class player, allowing Sembmarine to grow and freeing Keppel of an albatross
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Yesterday's announcement that Keppel Corp and Sembcorp Marine are looking to merge their offshore and marine (O&M) businesses to create a single Singapore-based global energy player is probably the biggest non-surprise to hit the market this year. This new entity will be listed on the Singapore Exchange.
While the merger details are scant, every investor, his mother and their pet dog was expecting this to happen. My Grab driver too.