"We believe the RFS status is an important milestone that enhances Keppel and Singapore’s positioning as a regional digital hub, supports growing AI/cloud workloads," state CGS International analysts Lim Siew Khee and Meghana Kande in their Oct 2 note, where they have kept their "add" call and target price of $10.23.
A relatively under-radar bit of Keppel's sprawling business, its subsea cable system segment, Bifrost, has reached a key milestone and can help bring about "positive share price reaction".
On Oct 2, Keppel announced that Bifrost has achieved "ready for service" status and that commercial data traffic will go 'live' soon.
