Keppel - UOB Kay Hian 2024-10-25: Displaying Continued Strong Execution

• Keppel’s 3Q24 business update showed that it continues to execute strongly with the key highlight being a 68% y-o-y jump in asset management fees to S$299m for 9M24. Data centres were a key focus during the analyst call.

9M24 net profit was comparable on a y-o-y basis

• - Read this at SGinvestors.io -
• Importantly, asset management fees of S$299m for 9M24 was a material 68% y-o-y increase with real estate being the largest contributor.

Focusing on Data Centre business.

• One of the key focus areas during the management presentation was the company’s data centre (DC) business, with Keppel highlighting its ability to generate multiple revenue streams from this asset class.
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Growing its power footprint.

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Above is an excerpt from a report by UOB Kay Hian Research.
Clients of UOB Kay Hian may be the first to access the full PDF report @ https://www.utrade.com.sg/.

Read also UOB's most recent report:
2025-08-12 Keppel - Hanging Up On M1 And Unlocking S$1b To Fuel Future Growth.

Previous report by UOB:
2025-08-01 Keppel 1H25 - Strong Growth, Steady Dividends And Asset-light Transformation In Motion.

Price targets by 4 other brokers at Keppel Target Prices.

Listing of research reports at Keppel Analyst Reports.

Relevant links:
Keppel Share Price History,
Keppel Announcements,
Keppel Dividend Payout Dates & Corporate Actions,
Keppel News