Limited financials provided except that Keppel's 9M24 net profit comparable y-o-y. We believe Keppel's 3Q24 net profit declined due to lower real estate earnings. Monetisation more than doubled by S$453mil to S$733mil.
- Read this at SGinvestors.io -
Prices for Bifrost transmission cable has more than doubled;
Imported green power into Singapore will more than double;
Huge demand with the commercialisation of two data centres in Genting Lane.
There will be opportunities for both divestment gains and long-term recurrent asset management, operations, and maintenance fees.
The Positive
Multiple assets ready for divestments.
- Read this at SGinvestors.io -
Another asset primed for monetisation is two data centres in Genting Lane (Keppel DC Singapore 7 operational and 8 being completed). Both assets are booked at cost and market valued when closer to operating.
Around S$453mil of properties in Saigon have been sold but are pending recognition and approval.
BiFrost submarine cable is enjoying a significant uplift in pricing, and the focus is getting the system ready for service next year.
Power demand is healthy in Singapore, especially green.
Read more at SGinvestors.io.
Above is an excerpt from a report by Phillip Securities Research. Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.
