Keppel Corp Ltd Ord (KPELF) Q4 2025 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 2025. We have on the panel this morning, from your left, Mr. Manjot Singman, CEO, Connectivity and CEO, M1. Mr. Louis Lim, CEO, Real Estate. Ms. Christina Tan, CEO Fund Management and Chief Investment Officer, Mr. Low Chin Hwa, CEO, Mr. Kevin Cheung, CFO, and Ms. Cindy Lin, CEO Infrastructure. We will begin the session with presentations by CEO Mr. Low Chin Hwa and CFO Mr. Kevin Cheung, followed by the question and answer session. Mr. Low, please. Thank you. Good morning. 2025 marked a year of strong progress for Keppel. Against the turbulent and uncertain global backdrop, we stayed focused on growing the new Keppel and are seeing the results of our transformation as a global asset manager and operator, delivering strong returns to our limited partners and shareholders, while creating real assets and solutions that meet the world's pressing needs the new capital delivered a very strong set of results net profit saw 39 year-on-year to 1.1 billion with improvements across all business segments and record earnings from the infrastructure division our funds under management grew from $88 billion a year ago to $95 billion at the end of 2025, well on track towards achieving our target FUM of $100 billion by end 2026, if not earlier, while asset management profit increased 15% to $189 million during this time. We also made good progress in asset monetization with $2.9 billion of divestments announced for 2025, bringing the total monetization announced since October 2020 to about $14.5 billion to date. At the same time, we continue to position capital to benefit from powerful global megatrends, such as the growing energy needs amidst increasing ...