Keppel Corporation - CGS-CIMB Research 2022-08-25: Not A Waste

Keppel Corporation - Not A Waste

  • Through Keppel Infrastructure and Keppel Asia Infrastructure Fund, Keppel Corporation (SGX:BN4) plans to acquire an 80% stake in 800 Super Holdings Ltd. William Lee, co-founder and current CEO of 800 Super, will hold the remaining 20% stake. Kohlberg Kravis Roberts will no longer be an investor.

Why Keppel buy 800 Super - a waste collection company?

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  • We think Keppel Corp bought 800 Super for its recurring income as the public sector waste contracts with the Singapore government range 1-3 years. The Tuas biomass co-generation plant gels with Keppel Corp’s strategy in environment and new energy businesses in KI, as well as the recent joint acquisition of Eco Management in South Korea which operates 6 waste-to-energy plants, 5 sludge drying facilities and the third largest incineration capacity in the country. We believe that in the medium term, this could be an asset to be injected into REITS/Trusts.
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How does this stack up against Sembcorp Industries?

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Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @

LIM Siew Khee CGS-CIMB Research | 2022-08-25

Read also CGS-CIMB's most recent report:
2023-10-19 Keppel Corporation - Infrastructure To Lead The Way.

Previous report by CGS-CIMB:
2023-07-28 Keppel Corporation - 55th Anniversary Surprise Dividend In Specie.

Price targets by 2 other brokers at Keppel Corp Target Prices.

Listing of research reports at Keppel Corp Analyst Reports.

Relevant links:
Keppel Corp Share Price History,
Keppel Corp Announcements,
Keppel Corp Dividends & Corporate Actions,
Keppel Corp News Articles


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