Keppel Corporation Limited (SG:BN4) has released an update.
Keppel Corporation Limited has reported a significant year-over-year increase in net profit for 1Q 2024 when excluding the impact of its legacy offshore and marine assets, with a notable 51% rise in recurring income driven by asset management and operating income. Despite this, the inclusion of the legacy assets led to a lower net profit compared to the previous year. The company is also progressing on its asset-light strategy with the recent clearance for acquiring a 50% stake in Aermont Capital S.à.r.l., and has monetized S$170 million in assets to date.
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