Serious Keppel confesses suspicious dirty deals, cuts 3,080 more jobs in Q3, profit d

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SINGAPORE — Keppel Corp’s offshore and marine division slashed another 3,080 jobs worldwide in the third quarter, including 660 in Singapore, said the oil-rig builder yesterday, warning it will reduce more of its headcount as the persistent global oil glut forces a cutback in exploration and drilling operations.

For the first nine months of the year, Keppel O&M has reduced its global direct workforce by close to 8,000 or about 26 per cent of the total.

The warning came as Keppel released a dismal third-quarter report card, with net profit for the offshore and marine, property and infrastructure conglomerate slumping 38.1 per cent in the three months ended Sept 30 from the corresponding period a year ago to S$224.5 million.

Keppel announced that following internal investigations, it recognised that certain transactions associated with the agent of some Keppel entities in Brazil may be suspicious.

http://www.todayonline.com/business/...-amid-oil-glut


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