{
  "id": 17001422,
  "title": "Keppel posts 20% rise in Q3 net profit; New Keppel earnings up 15%",
  "url": "https://urgent.news/2026/10/29/keppel-posts-20-rise-in-q3-net-profit-new-keppel-earnings-up-15-17001422",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-29T03:30:00.000Z",
  "source": {
    "name": "Straits Times Business",
    "slug": "straits-times-business",
    "url": "https://www.straitstimes.com/business/keppel-posts-20-rise-in-q3-net-profit-new-keppel-earnings-up-15"
  },
  "original_language": "en",
  "account": "Keppel, the asset manager and operator, reported a 20% rise in its net profit for the third quarter ended September 30th. Excluding its non-core portfolio for divestment and discontinued operations, the \"New Keppel\" segment experienced a 15% increase in net profit compared to the same period last year. This growth was driven by robust performance in the connectivity and infrastructure segments. Keppel's net profit for the first nine months of 2026 decreased by 40% year-on-year, attributed to a 4% reduction in the gross asset value of non-core assets due to impairments, depreciation, and operating costs. However, New Keppel's net profit for the nine months ending September 30th was higher by over 20% compared to the previous year. This growth was primarily attributed to stronger performance in the infrastructure and connectivity segments. CEO Loh Chin Hua stated that New Keppel continued to perform strongly in both Q3 and the first nine months of 2026. Revenue from recurring income rose more than 10% year-on-year, driven by improvements in asset management businesses, sponsor stakes, co-investments, and the company's operating platform. The company generated $354 million in asset management fees, an 18% increase year-on-year, and completed about $4.5 billion in acquisitions and $3.5 billion in divestments during the first nine months of 2026. Keppel's infrastructure division showed stronger performance for the first nine months, with a 7% year-on-year growth in earnings before interest, taxes, depreciation, and amortisation (Ebitda) driven by the 600MW Keppel Sakra Cogen Plant. The connectivity segment, including its data centre portfolio, continued to grow its technology solutions business, and Ebitda expanded by 110% year-on-year. Keppel announced over $2.4 billion in non-core property monetisation in the year to date, with plans to pay special dividends of 10 to 15% from the proceeds of non-core asset monetisation. Shares of Keppel ended at $10.13 on October 28th, marking a 0.3% increase.",
  "summary": "Shares of Keppel ended 0.3% or $0.03 higher at $10.13 on Oct 28.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Keppel posts 20% rise in Q3 net profit; New Keppel earnings up 15%",
        "url": "https://urgent.news/2026/10/29/keppel-posts-20-rise-in-q3-net-profit-new-keppel-earnings-up-15",
        "published": "2026-10-29T00:46:11.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}