Keppel Ltd. (KPELY) Q2 2026 Earnings Call Transcript

Good morning, ladies and gentlemen. Welcome to the conference for Keppel Limited's First Half Financial Results for 2026. We have on the panel this morning from your left, Mr. Manjot Singh Mann, CEO, Connectivity and CEO, M1; Mr. Lu-yi Lim, CEO, Real Estate; Ms. Christina Tan, CEO of Fund Management and Chief Investment Officer; Mr. Loh Chin Hua, CEO; Mr. Kevin Chng, CFO; and Ms. Cindy Lim, CEO, Infrastructure.

We will begin the session with presentations by CEO, Mr. Loh Chin Hua; and CFO, Mr. Kevin Chng, followed by the question-and-answer session. Mr. Loh, please.

Thank you, Amira. Good morning, all. The new Keppel delivered strong results in the first half of 2026 amidst a highly volatile global environment. Despite geopolitical tensions, the demand for sustainable digital and energy infrastructure continues to rise with accelerating AI adoption. With our integrated ecosystem spanning capital, digital infrastructure and power, Keppel is well positioned to capture opportunities in this growing market.

The new Keppel delivered net profit of SGD 530 million in the first half of 2026, up 25% year-on-year. This was driven by strong contributions from sponsor stakes and co-investments as well as higher recurring income from asset management and our operating platform.