Keppel Ltd

BN4: XSES (SGP)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Keppel Ltd: Monetization Momentum Continues, Pivots to Asset-Light Model

Xavier Lee

Oct 30, 2025

Keppel's first nine months' net profit rose over 5% year on year, despite an accounting loss from the M1 divestment. The group announced plans to formalize a new dividend policy, anchoring payouts to annual net profit—departing from its historically more stable dividend approach.

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Keppel Ltd

Keppel Ltd: Monetization Momentum Continues, Pivots to Asset-Light Model

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