On Thursday ( Apr 24 ), Singapore’s Keppel Ltd., excluding its legacy offshore and marine assets, reported a 25 % increase in first-quarter net profit, driven by strong results in both its infrastructure segment and asset management.
Keppel, which was established as a shipbuilding yard more than 50 years ago, claimed that its infrastructure division’s solid earnings contributed to the increase in gross profit.
Keppel’s middle line increased even more as a result of the company’s improved performance in its real estate segment and powerful contributions from its asset management division.
The company reported that its asset management costs for the quarter rose by 9 % year over year to S$ 96 million ( US$ 72.99 million ).
CEO Loh Chin Hua stated in a statement regarding the US business plan that “direct effects of the US tariffs on Keppel is anticipated to be limited.”
A business war” may, however, have an indirect impact on us due to increased supply ring costs, decreased business confidence, exchange rate risks, and increased asset monetisation.”