Keppel - UOB Kay Hian 2026-05-19: M1 Sale Is Deferred, Not Derailed

• Singapore's Infocomm Media Development Authority's (IMDA) suspension of the M1-Simba review and the impending lapse of the S$1.43b deal for Simba to acquire M1's retail segment is a clear negative headline; however, it is important to highlight that the breakdown was driven by Simba's alleged unauthorised use of spectrum and has nothing to do with Keppel (SGX:BN4).

• - Read this at SGinvestors.io -

Monetisation target of S$2b-3b for 2026 reaffirmed.

• - Read this at SGinvestors.io -

• Keppel's broader S$13.5b asset monetisation programme over the 2025-30 period remains on track, as does the company's special dividend policy to share 10-15% of monetisation proceeds with its shareholders.

Pivoting to "Plan B” which is value-accretive, not a consolation prize.

• 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:
2026-04-24 Keppel - Monetisation & Fee Growth Accelerates In 1Q26.

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Listing of research reports at Keppel Analyst Reports.

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