Key Takeaways
- • Keppel reported more than 20% growth in nine-month 2026 net profit, excluding its non-core portfolio held for divestment and discontinued operations, according to Reuters.
- • Including the non-core portfolio, Keppel's overall nine-month net profit fell 40%, mainly due to a 4% reduction in the gross asset value of those non-core assets.
- • The integrated power business recorded 7% EBITDA growth, supported by the commercial start-up of the Keppel Sakra Cogen plant.
- • Keppel added S$19.5 billion ($15.22 billion) of new funds under management year to date, having passed its end-2026 FUM target of S$100 billion in July.
- • Asset monetisation reached S$3.7 billion year to date, above the 2026 target range; the company said it has exceeded its $2-3 billion non-core monetisation target for the year.
Summary
Singapore-listed asset manager Keppel reported more than 20% growth in its nine-month net profit for 2026, excluding its non-core portfolio held for divestment and discontinued operations, according to Reuters. The growth was driven by strong performance in the company's infrastructure and connectivity units.
In infrastructure, the integrated power business recorded 7% growth in earnings before interest, taxes, depreciation and amortization, supported by the commercial start-up of the Keppel Sakra Cogen plant. The connectivity segment, which houses Keppel's data center business, also contributed to earnings growth, benefiting from its focus on power-constrained markets and disciplined underwriting.
Including the non-core portfolio, Keppel's overall nine-month net profit fell 40%, mainly due to a 4% reduction in the gross asset value of those assets.
On fund management, Keppel added S$19.5 billion ($15.22 billion) of new funds under management year to date, having already surpassed its end-2026 target of S$100 billion in FUM in July. Asset monetisation stood at S$3.7 billion year to date, also exceeding its 2026 target range.
Chief Executive Loh Chin Hua said: "Despite the volatile environment, we have exceeded our target of $2-3 billion in non-core asset monetisation announced for the year. This would unlock capital to fund growth, reduce debt and reward shareholders." Shares of the company rose as much as 2.4% on the day, their best session in a month, while the broader benchmark was up 0.5%.
In infrastructure, the integrated power business recorded 7% growth in earnings before interest, taxes, depreciation and amortization, supported by the commercial start-up of the Keppel Sakra Cogen plant. The connectivity segment, which houses Keppel's data center business, also contributed to earnings growth, benefiting from its focus on power-constrained markets and disciplined underwriting.
Including the non-core portfolio, Keppel's overall nine-month net profit fell 40%, mainly due to a 4% reduction in the gross asset value of those assets.
On fund management, Keppel added S$19.5 billion ($15.22 billion) of new funds under management year to date, having already surpassed its end-2026 target of S$100 billion in FUM in July. Asset monetisation stood at S$3.7 billion year to date, also exceeding its 2026 target range.
Chief Executive Loh Chin Hua said: "Despite the volatile environment, we have exceeded our target of $2-3 billion in non-core asset monetisation announced for the year. This would unlock capital to fund growth, reduce debt and reward shareholders." Shares of the company rose as much as 2.4% on the day, their best session in a month, while the broader benchmark was up 0.5%.
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