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Keppel Corporation Keppel Corporation Limited ( Co Reg No. 196800351N ) 1 HarbourFront Avenue # 18-01 Keppel Bay Tower Singapore 098632 www.kepcorp.com Tel : ( 65 ) 62706666 Fax : ( 65 ) 64136452 Media Release Keppel's net profit improved significantly to S $ 300m in 1H 2021 , reversing net loss of S $ 537 million in 1H 2020 ● Announced monetisation of over S $ 2.3 billion in assets from October 2020 to July 2021 , and have completed half of the transactions . Unlocked cash of S $ 854 million in 1H 2021 from asset monetisation . ● Declared interim dividend of 12.0 cents per share for 1H 2021 . Singapore , 29 July 2021 - Keppel Corporation Limited ( Keppel ) reported a net profit of S $ 300 million for the half year ended 30 June 2021 , underpinned by profitability across all key business units . Net profit for the current period was a significant improvement over the net loss of S $ 537 million for 1H 2020 , which had been impacted by S $ 930 million of impairments mainly related to the offshore & marine ( O & M ) business . Excluding revaluations , impairments and divestments ( RIDs ) as well as COVID - 19 related government grants in both years , the Group would have achieved a net profit of S $ 280 million in 1H 2021 , compared to a net loss of S $ 72 million in 1H 2020. When compared on a similar basis , the Group's operating performance in 1H 2021 was also a marked improvement of about 88 % over the net profit of S $ 149 million recorded in 1H 2019 , prior to the pandemic . The Group's revenue grew 16 % to S $ 3,677 million in 1H 2021 from S $ 3,182 million in 1H 2020 , bolstered by higher contributions from the Urban Development , Asset Management and Energy & Environment segments . Keppel has made substantial strides towards its Vision 2030 , which includes being more focused and disciplined in executing its mission to provide solutions for sustainable urbanisation . In June 2021 , Keppel announced the signing of non - binding Memoranda of Understanding on the proposed combination of Keppel O & M and Sembcorp Marine , and resolution of Keppel O & M's legacy rigs . The Group has also announced the planned divestment of its logistics business and has received bids , which it is currently evaluating . Keppel has also announced the monetisation of over S $ 2.3 billion in assets since the asset monetisation programme was announced in September 2020 , and has completed about half of these transactions to date . Through proactive asset monetisation , the Group registered improvements in its free cash flow as well as net gearing . In 1H 2021 , free cash inflow was S $ 499 million compared to an outflow of S $ 664 million in 1H 2020. The 1