Keppel Limited (KPELY.PK, KPELF.PK), a Singaporean infrastructure company, reported that its net profit, excluding effects of legacy offshore and marine assets, for the nine-month of 2024 was stable year-over-year.
During the 9-month period, Keppel reported a 14% growth in recurring income with higher contributions from both asset management and operating income.
In the first nine months of 2024, Keppel generated S$299 million in asset management fees, 68% higher year-over-year, driven by stronger performance across all three segments.
Keppel's Infrastructure Division plans to double its energy supply to 3.0 GW by 2030 through power generation and regional importation. This includes the 600 MW Keppel Sakra Cogen power plant, which was 77% completed as at end-September 2024.
Looking ahead, Keppel aims to more than double its data centre FUM, from the current S$9 billion to S$19 billion in the near-term, with the upcoming Keppel Data Centre Fund III, as well as further co-investments from investors.
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