Keppel’s new long-term goal: AUM growth to $200b

The firm achieved its target of $50b of assets under management.

After achieving its goal at the end of 2022, Keppel Corporation is now working to grow its assets under management (AUM) of $200b. 

This after an annual report showed that the firm said it achieved a target of $50b of AUM. The report also revealed about $2.8b worth of energy and environment and sustainable urban renewal-related investments in 2022. 

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It also said that in the fiscal year 2023, Keppel will recognise a disposal gain of over $3.3b from the Keppel Corporation’s offshore & marine segment and Sembcorp Marine merger.

“Together with the vendor notes issued to Keppel from the sale of the legacy rigs to Asset Co, for which we will be repaid over time, and the out-of-scope assets, Keppel is unlocking close to $9.4b of value from the O&M transactions,” read the annual report.

The company announced that it also has over $4.6b in “asset monetisation announced by end-December 2022, since the start of the programme in 33 cents per share for the whole of 2022.”