Singapore-based rig builder Keppel Offshore & Marine saw profits fall for last year along with revenues. It also revealed work had slowed on rigs being built for Sete Brasil with the Brazilian company not making payments in over a year. Keppel’s profit was S$481 million for the full year., down 54% from S$1,040 a year ago. For the quarter O&M business recorded a net loss of $61 million. It posted a net loss of $42.54 million for Q4 2015, down from a net profit of $200.18 million in the previous year, with the decline attributed to lower volume of work and deferment of some projects. Keppel Corporation has halted work on its projects for Sete Brasil and made a provision of about $230 million for the possible write-offs, said chief executive Loh Chin Hua.