As Top Idea picks go, my bullish call on Keppel Corp. (OTCPK:KPELY)
in September of 2013 has been lousy - the shares are down a little less
than 1% since then (lagging the Straits Times Index by about 2%) and
readers would have frankly been better off with a money market account.
The good news, if you can call it that, is that nothing has
fundamentally changed for the worse for Keppel and there are arguments
to be made that the business is stronger today. The sentiment around
marine builders isn't great right now given shaky dayrates and
utilization, not to mention uncontracted rigs coming out of shipyards
later this year, but I continue to believe that Keppel is a high-quality
play on a long-term offshore cycle that isn't over yet.
Please read more here:
Keppel Corp.'s Frustrating Lack Of Progress
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