Keppel Corp Ltd Ord (KPELF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to the conference for Kepo Limited's first half financial results for 2026. We have on the panel this morning, from your left, Mr Manjot Singh Man, CEO Connectivity and CEO M1, Mr Louie Lin, CEO Real Estate, Ms Christina Tan, CEO Fund Management and Chief Investment Officer, Mr. Loh Chin Hua, CEO, Mr. Kevin Cheung, CFO, and Ms. Cindy Lin, CEO, Infrastructure. We will begin the session with presentations by CEO, Mr. Loh Chin Hua, and CFO, Mr. Kevin Cheung, followed by the question and answer session. Mr. Loh, please. Thank you, Amira. Good morning, all. The new capital delivered strong results in the first half of 2026. amidst a highly volatile global environment. Despite geopolitical tensions, the demand for sustainable digital and energy infrastructure continues to rise with accelerating AI adoption. With our integrated ecosystem spanning capital, digital infrastructure and power, Keppel is well positioned to capture opportunities in this growing market. The new capital delivered net profit of $530 million in the first half of 2026, up 25% year-on-year. This was driven by strong contributions from sponsor stakes and co-investments, as well as higher recurring income from asset management and our operating platform. We also made significant progress on our two strategic priorities – We surpassed our end-2026 target of $100 billion funds under management ahead of schedule, reaching $106 billion in July. In addition, we announced about $1.7 billion of asset monetization year-to-date on track towards our full-year target of $2-3 billion. We also achieved key operating milestones. across digital and energy infrastructure, with Bifrost fully commercialised, while the Keppel-Sakra co-gen plant, Singapore's first hydrogen-compatib...