Shares of Singapore’s Keppel Corp, the world’s largest oil rig builder, rose as much as 1.7% on expectation that its second-quarter earnings will beat analyst forecast, traders said.
Keppel Corp shares were up 1.5% at $11.22 on volume of 4.4 million shares, 1.1 times the average full-day volume over the past 30 days. The stock was the third-highest traded by value in the Singapore market.
Keppel Corp, which is also involved in property, infrastructure and investments, will report its April-June result after trading hours today.
Five analysts polled by Reuters expect Keppel Corp to report net profit of $383 million on average.
Keppel Corp’s property arm, Keppel Land, reported on Wednesday a 87.5% rise in second-quarter net profit, lifted by its high-end residential project in Singapore and K-REIT Asia.
Keppel Corp’s property business contributed nearly 15% of its total revenue in 2011.
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