- Gas margin impact on profits is limited thus far; On track for S$2b-3b in asset monetisation this year with S$385m announced year-to-date.
- 1Q26 net profit dipped slightly y-o-y, but recurring income and free cash flow rose strongly while asset management fees grew 13% y-o-y to S$108m.
No cause for concern yet despite lower net profit.
- - Read this at SGinvestors.io -
- On a positive note, recurring income edged up slightly, supported by stable asset management profit and higher operating income, while free cash flow turned “strongly positive” in 1Q26 vs cash outflow in 1Q25.
Asset monetisation progress.
- - Read this at SGinvestors.io -
- Separately, Keppel disclosed that it had disposed of its entire 5% stake in Seatrium (SGX:5E2), generating a total of S$430m.
- During the analyst briefing, it was evident that management is confident in achieving its 2026 asset monetisation target of S$2b-3b, which is equivalent to S$1.11-1.67/share.
All about the gas.
- 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/.
Adrian LOH UOB Kay Hian Research | https://research.uobkayhian.com/ 2026-04-24
Read also UOB's most recent report:
2026-05-19 Keppel - M1 Sale Is Deferred, Not Derailed.
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