Published:
Sembcorp Marine's 2012 orderbook jumped big-time by 150%
Will competitor Keppel keep up?
According to Phillip Securities, Sembcorp Marine saw a big jump in its order book by 150% in 2012, which in turn, will result in robust revenue and earnings growth over the next few years.
This could be as high as 14% earnings CAGR from 2012-14E versus a marginal increase of 2% for Keppel Corporation (KEP).
"We believe Keppel Corp's earnings growth will be much lower as its already high order book merely grew by 37% last year. However, we think that Sembcorp Marine's stronger earnings growth profile, which is due to its record order book are largely priced in by now," Phillipe Securities said in a report.
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