From the 18th-floor boardroom of Keppel Bay Tower, the view is of the open sea as well as land on which stands upscale housing blocks and a mall - pretty much the way Keppel Corporation's main business is arranged these days.
The mid-morning sky looks cheerful, emblematic of the half-yearly results just announced that showed net profit rose 38 per cent to $583 million, buoyed by Keppel's property and infrastructure divisions. Net gearing - the proportion of debt versus equity - is down to 0.40x. The return on equity is nudging double digits. And while profitability at the critical offshore and marine (O&M) division continues to drag, it now has new contracts worth over $1.2 billion, higher than the total value of new orders secured in the 2017 fiscal year.