Singapore-listed Keppel saw its bottom line fall by almost one tenth to SGD 414m ($352.8m) in the three months to the close of September thanks to struggles at its property division.

Its Offshore & Marine wing reported improved operating result with income up by SGD 77m to SGD 359m.

It came amid positive comments from chief executive Loh Chin Hua on the offshore rig market and the shipyard’s progress in the FLNG arena.