Could Keppel O&M be preparing to sail away from Keppel Corp's Vision 2030?

SINGAPORE (June 12): The Vision 2030 of Keppel Corp takes the OneKeppel approach much further. In a press release on May 28 this year, Keppel said the company plans to focus more on renewables, environmental solutions, nearshore floating infrastructure, connectivity solutions including green data centres, as well as integrated smart district development. It will also pro-actively activate its land-bank to improve asset turns and returns, while channelling part of the freed balance sheet to support new growth initiatives.

Asset management will be important, maybe even the core that “melds” the various businesses together. Keppel Capital’s target AUM is $50 billion for Vision 2030. Keppel Capital would look for capital partners such as pension funds and sovereign wealth funds which would want real assets with cash flows that serve as an inflationary hedge.

In addition, Keppel will focus on growing its recurring income. Already, the Keppel group is sponsor to Keppel REIT and Keppel DC REIT, and has small stakes in Keppel Pacific Oak US REIT (KORE) and Prime US REIT, as well as shares in their management companies.

---

Related Stories

• Keppel’s higher fund management fee income to contribute to earnings growth in FY2024: PhillipCapital
• Temasek disposes of 74.3 mil Keppel REIT units at 91.38 cents (update)
• Keppel, Pan-United to collaborate on CCUS, hydrogen development with energy and infrastructure firms

---