Keppel - UOB Kay Hian 2025-10-15: Monetisation Momentum & Bifrost Tailwinds

• Since its 1H25 result announcements, Keppel (SGX:BN4) has had a busy and positive 3Q25 with:
  1. - Read this at SGinvestors.io -
  2. the disposal of its remaining stakes in two data centres (DCs) in Singapore, and
  3. the achievement of ready for service (RFS) status for its Bifrost cable system.

Material value discovery for Bifrost.

• With the fibre cable now physically completed and all construction risks extinguished, we believe that the potential sale of three of its remaining fibre pairs could drive Keppel's share price in the near term (Converge paid US$100m for the first pair in 2022; price undisclosed for the second pair).
• - Read this at SGinvestors.io -

Divestment of SSC in Ho Chi Minh City.

• Read more at SGinvestors.io.

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/.

Previous report by UOB:
2025-08-12 Keppel - Hanging Up On M1 And Unlocking S$1b To Fuel Future Growth.

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