Keppel Ltd. reported a net profit of $530 million for the first half ended June 30, 2026, up 25% year-on-year for the New Keppel, excluding the Non-Core Portfolio for Divestment. The result was underpinned by significantly higher contributions from sponsor stakes and co-investments, as well as stronger recurring income from asset management and the operating platform.
Recurring income rose 13% to $467 million. Sponsor stakes and co-investments contributed $175 million, up sharply from $18 million in the first half of 2025. Infrastructure and Connectivity segment earnings both grew more than 50% year-on-year, with Infrastructure contributing the largest share of profits.
Keppel said it achieved $106 billion in Funds under Management as at end-July 2026, surpassing its target of $100 billion by end-2026 ahead of schedule. The company announced approximately $1.7 billion of asset monetization year-to-date in 2026, on track toward its target of $2 billion to $3 billion for the year. Keppel also established a pathway to monetize up to 10 legacy rigs for approximately $3.7 billion, with $1.5 billion in capital commitments secured for the Keppel Offshore Fund.
The company said it achieved key milestones in digital and energy infrastructure supporting AI-driven growth. Singapore’s first hydrogen-compatible power plant, the Keppel Sakra Cogen Plant, commenced operations by end-May 2026, and all five of Keppel’s fiber pairs on the Bifrost Cable System were successfully commercialized. Keppel declared a first-half 2026 interim cash dividend of 15.0 cents per share, unchanged year-on-year.
