Keppel Corp Ltd Ord (KPELF) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to the Conference for Capital Limited's second half and full year financial results for 2023. We have on the panel this morning, from your left, Mr Manjot Singh Mann, CEO M1, Mr Louis Lim, CEO Real Estate, Ms Christina Tan, CEO Fund Management and Chief Investment Officer, Mr Lo Chin Hwa, CEO, Mr. Kevin Cheung, CFO, and Ms. Cindy Lim, CEO, Infrastructure. Mr. Thomas Pang, CEO, Data Centres and Networks, is not feeling well and will not be attending the session today. We will begin the session with presentations by CEO, Mr. Lo Chin Hwa, and CFO, Mr. Kevin Cheung, followed by the question and answer session. Mr. Lo, please. Thank you. Good morning, everyone. 2023 has been one of the most transformational years in Keppel's history. Amidst the volatile global environment, we took pivotal steps to transform Keppel, starting with the successful divestment of the offshore and marine business, which allows us to realise some $9.4 billion in value over time. We then unveiled the next phase of our Vision 2030 transformation, shedding our conglomerate structure to become a global asset manager and operator. This was followed by the proposed strategic acquisition of Amon Capital, which we announced in November, to propel our growth as an asset manager at a global scale. Reflecting Keppel's new direction, we changed our name with effect from 1st January 2024 from Keppel Corporation Limited to Keppel Ltd, marking a new chapter in our corporate journey. Today, we are operating more efficiently as one horizontally integrated company, harnessing synergies across our three segments. We have made good progress in the goals we set. By 3rd Q23, we had already exceeded the upper bound of our three-year asset monetisation target of $3 billion to ...