Keppel Corp Posts 9% Rise in Q1 Revenue to S$2.3 Billion

The Business Times2023-04-21

KEPPEL Corporation : BN4 +2.55% posted a 9 per cent rise in its revenue to S$2.3 billion for its first quarter ended Mar 31, 2023, from S$2.1 billion the same period the year before.While the company ...

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RL7741
2023-04-21
RL7741
Very good [微笑]

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This came due to an absence of fees from acquisitions made by Keppel Infrastructure Trust and Keppel DC Reit.Still, Keppel Capital chief executive Christina Tan said that the company continues to see strong deal flows in infrastructure and data centres, which are essential services that still garner strong demand.“For real estate, with higher interest rates, we do see some cap rate expansion as well in certain markets in Asia, so there will still be opportunities for us to acquire,” she said.Tan added that there should be “a lot more activity” in the coming months in terms of investment pace.Reiterating the company’s goal of growing its assets under management to S$200 billion by 2030 from S$50 billion currently, Loh said that the target is “very feasible” as Keppel’s focus is now on asset management.Meanwhile, revenue generated from the company’s energy and environment segment grew 9.7 per cent to S$1.6 billion due to higher sales from the power and renewables as well as energy-as-a-service businesses.Urban development segment revenue grew a further 16.7 per cent to S$244 million in Q1 on Keppel Land’s increased contributions from trading projects.The company’s connectivity segment grew 8.3 per cent to S$326 million on higher contributions from M1, whose revenue rose 14 per cent to S$295 million. However, this was offset by year-on-year declines in Keppel Data Centres’ performance due to costs incurred to support new projects as well as expansion into new markets.Shares of Keppel closed 1.3 per cent higher at S$6.27 on Thursday, before the results were released.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9944422450,"gmtCreate":1682043372071,"gmtModify":1682043375930,"author":{"id":"3585382015740768","authorId":"3585382015740768","name":"RL7741","avatar":"https://community-static.tradeup.com/news/cc534d52d2b9325d1a2e19f4cf928bc2","vip":1,"crmLevel":4,"crmLevelSwitch":1,"idStr":"3585382015740768","authorIdStr":"3585382015740768"},"htmlText":"Very good&nbsp;[微笑]&nbsp;","listText":"Very good&nbsp;[微笑]&nbsp;","text":"Very good [微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9944422450","repostId":1135499542,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":6,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1135499542"}