$BN4 (-1,21 %) Singapore's Keppel Corp (KPLM.SI) on Thursday reported a more than seven-fold rise in its first-half profit
Keppel sold its offshore and marine business to Sembcorp Marine in February for S$4.50 billion (US$3.40 billion), booking a S$3.3 billion gain as it aims to become an asset manager managing US$150 billion by 2030 and focus on green energy.
As of June 30, the company managed funds worth S$53.2 billion Singapore dollars.
In May, Keppel announced a restructuring plan to quadruple its assets under management and make it operate more similarly to Canada's Brookfield Asset Management (BAM.TO) and Australia's Macquarie Group Ltd (MQG.AX) .
Since the program began in October 2020, the company has so far achieved cumulative asset monetization of 4.8 billion Singapore dollars . The target is to achieve cumulative asset monetization of up to 12 billion Singapore dollars by the end of 2026.
Shareholders will receive a total cash dividend of 33 Singapore cents per share, representing a yield of 4.7 percent, based on Keppel's closing share price of S$6.99 on July 26.
