Keppel's nine-month profit rises on infrastructure strength
Keppel reported over 20% growth in adjusted nine-month net profit, while total profit fell 40% once non-core assets were included, Reuters said.
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what happened
According to Reuters, Singapore's Keppel said on Thursday that its nine-month net profit excluding non-core assets held for divestment and discontinued operations grew by more than 20%. The gains came mainly from the infrastructure arm, where integrated power EBITDA rose 7% after the Keppel Sakra Cogen plant began commercial operations, and from the connectivity segment, which includes its data centre business.
When non-core assets are included, overall nine-month net profit dropped 40%, largely because their gross asset value fell 4%. Year to date, the company added S$19.5 billion ($15.22 billion) in new funds under management, already passing its end-2026 target of S$100 billion reached in July. Asset monetisation totalled S$3.7 billion, above the 2026 target range of S$2 billion to S$3 billion.
why it matters
For markets, the key point is the strength of infrastructure and data centres, where demand for power-intensive capacity supports interest in Keppel's shares. The fall in total profit reflects non-core asset revaluations, so investors typically look at the full set of results.
market impact
Keppel shares: stronger infrastructure and data centre earnings support the company's valuation
tags
instruments
sources
- Singapore's Keppel posts higher nine-month profit as infrastructure shines — Reuters, 29 October 2026 at 00:54 UTC
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