The special dividends are at the discretion of the Keppel board, but in FY2025, Keppel announced that it would pay out 10 to 15% of the monetisation received or realized in the financial year. To date, Loh says Keppel completed monetisations range from $300 million to $400 million this year.
In August last year, Keppel announced the proposed sale of M1 to Simba for $1 billion in cash. However on May 18 the IMDA announced it has suspended the review of Keppel's planned sale of M1 to Simba. Given that approval from IMDA is one of the conditions required, the deal has been terminated.
“Given IMDA decision, the proposed divestment of our stake in the M1 telco business will be removed from Keppel’s announced monetisation for 2025. At our 1Q2026 business update, we announced our target to monetise $2-3 billion of non-core assets in 2026. This remains unchanged, and we will continue to work towards our monetisation target. In real terms for our investors, the impact is about seven to 11 cents per share in terms of special dividends. We will continue to explore opportunities for monetisation, so the special dividends have not gone away, they have just been deferred,” Loh Chin Hua, group CEO, Keppel, says during a briefing to analysts and media.
