On the other hand, Keppel is beefing up its asset management capabilities, as it simplifies its group structure to form a “horizontally integrated model” comprising fund management, investment and operating platforms — three parts of one integrated business focused on “investing in and creating solutions for a sustainable world”, according to management.
One of Singapore’s largest companies by market capitalisation will look vastly different by year-end. With the sale of Keppel Offshore & Marine (O&M) to Sembcorp Marine in February and a “major reorganisation” unveiled in May, the stage is set for Keppel Corp’s (SGX:BN4
) transformation from a conglomerate to a global alternative real asset manager.
Founded in 1968 as Keppel Shipyard, the Keppel of today is shedding weight as part of the group’s Vision 2030 strategy, which was unveiled at the peak of the pandemic in May 2020. In July 2022, Keppel divested its logistics business — a “non-core business that has been operating at a sub-scale level”, says Thomas Pang, CEO of Keppel Telecommunications & Transportation.
