Keppel posts 20% rise in Q3 net profit; New Keppel earnings up 15%
9M profit tumbles 40% due to slide in value of non-core assets remaining on the books
Keppel reported a substantial rise in its net profit for the third quarter ended September 30, 2026, with a 20% increase. Excluding its non-core portfolio for divestment and discontinued operations, the company's "New Keppel" segment saw a near 15% year-on-year increase in profit. The improvement in New Keppel's performance was attributed to stronger results in its connectivity and infrastructure segments.
Keppel's net profit for the first nine months of 2026 fell by 40% year-on-year, mainly due to a 4% reduction in the gross asset value of its non-core assets, primarily caused by impairments, depreciation, operating and holding costs. However, New Keppel's profit rose significantly year-on-year, driven by robust performance in the infrastructure and connectivity sectors.
Loh Chin Hua, Keppel's CEO, emphasized that New Keppel continued to perform strongly in both Q3 and nine months of 2026, executing the company's strategy as a global asset manager and operator focused on essential energy and digital infrastructure.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
