• About
  • Advertise
  • Contact
Thursday, October 2, 2025
  • Login
No Result
View All Result
NEWSLETTER
The NY Journals
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
  • Home
  • Business
  • Technology
  • Entertainment
  • Sports
  • Lifestyle
  • Health
  • Politics
  • Trending
No Result
View All Result
The NY Journals
No Result
View All Result
Home Technology

Keppel’s ‘moat’ gives it an edge in the data centre business: CEO 

by Sarkiya Ranen
in Technology
Keppel’s ‘moat’ gives it an edge in the data centre business: CEO 
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


KEPPEL’S access to greener infrastructure and funds has created a “moat” and given the company an edge in the data centre business, noted its chief executive officer Loh Chin Hua.

“Through our infrastructure division, we have direct access to renewables, low-carbon energy and liquid cooling solutions, which are important for sustainable data centre operations,” he said in a call on Thursday (Oct 24).

Access to both Keppel’s own funds and other private capital via its investment partners will allow for growth beyond the limitation of the company’s balance sheet. Keppel expects to double its data centre funds under management from S$9 billion to S$19 billion in the near term, currently with its upcoming Keppel Data Centre Fund III, as well as further co-investments from investors.

“This growth from S$9 billion to S$19 billion… will be mostly organic, we do see quite a lot of deal flow and I think the demand is quite strong in the areas that we are operating in,” added Loh.

Keppel will not ignore inorganic opportunities in the data centre space as well. The data centre business is expected to generate multiple income streams for the company, from asset management and carried interest to operations and maintenance fees.

Data centre capacity will grow from 650 megawatts (MW) to 1.2 gigawatts (GW) in the near future for Keppel, with the 500 MW growth being explored in the Asia-Pacific region.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Keppel in a business update released on Thursday said that its net profit for the third quarter ended September 2024 was lower year on year, as valuation and divestment gains in the connectivity segment that were recorded in the same period a year ago are absent this time around.

Nine-month net profit was comparable to a year prior after excluding the effects of legacy offshore and marine assets. Such legacy effects comprise profit-and-loss effects from Seatrium shares, its asset company’s vendor notes, and contributions from stakes in Floatel and Dyna-Mac.

Net profit figures for the Q3 and 9M period were not disclosed by the company in its business update. Keppel nonetheless said that it registered a 14 per cent growth in 9M FY2024 recurring income, which came on the back of higher contributions from both asset management and operating income.

As at end-September 2024, about 60 per cent of the group’s borrowings were on fixed rates with an average cost of funds of 3.85 per cent, and a weighted tenor of about three years including perpetual securities.

Including contributions from the recently acquired Aermont Capital, the group’s asset management fees grew 68 per cent year on year to S$299 million amid stronger performance across all three asset management segments. (see *Amendment note)

Keppel further noted “strong investor interest” for its flagship funds across private credit, education assets and data centres.

It also said that it plans for its infrastructure division to double its energy supply to 3 GW by 2030, while expanding its cooling business and growing its presence in Asian markets.

Shares of Keppel rose S$0.20 or 3.1 per cent to S$6.58 as at 9.07am on Thursday, after the release of its business update.

First cooling solutions contract in India

Separately, the group announced that it secured its first cooling-as-a-service contract in India from Nucleus Office Parks (NOP), which is the operating platform for offices in India that are fully owned by US investment management giant Blackstone. 

Under the contract, Keppel will partner Daikin Airconditioning India to retrofit and optimise a 4,300-refrigeration tonne chiller plant system at NOP’s asset in Bengaluru, Exora Business Park.

The project is expected to be completed in the first quarter of 2025, after which Keppel will operate the chiller plant system for a period of 10 years.

Following completion of works by Keppel and Daikin, the system is expected to “significantly improve energy efficiency, enhance operational cost savings over the contract period, and reduce the park’s carbon footprint by more than 6,000 tonnes of carbon dioxide annually”.

Keppel has also entered into a strategic collaboration arrangement with Tata Power Trading Company to jointly offer cooling-as-a-service solutions across the India, which Keppel highlighted as “one of the most promising markets” for such solutions.

Cindy Lim, the chief executive of Keppel’s infrastructure division, said that the group’s proprietary cooling solutions have been proven to help its partners and clients achieve energy and cost savings on top of sustainability outcomes.“We are confident that we will be able to replicate our success in more projects across India,” she added.

*Amendment note: This article previously stated that asset management fees growth was excluding Aermont Capital’s contributions.



Source link

Tags: BusinessCentreCEODataEdgeKeppelsmoat
Sarkiya Ranen

Sarkiya Ranen

I am an editor for Ny Journals, focusing on business and entrepreneurship. I love uncovering emerging trends and crafting stories that inspire and inform readers about innovative ventures and industry insights.

Next Post
Kering warns of lowest profit since 2016 as Gucci suffers

Kering warns of lowest profit since 2016 as Gucci suffers

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Man Utd transfer statement makes clear where Arsenal messed up with Ayden Heaven

Man Utd transfer statement makes clear where Arsenal messed up with Ayden Heaven

8 months ago
Salwan Momika, Man Who Burnt Quran In 2023 Sparking Huge Protests, Shot Dead In Sweden

Salwan Momika, Man Who Burnt Quran In 2023 Sparking Huge Protests, Shot Dead In Sweden

8 months ago

Popular News

    Connect with us

    The NY Journals pride themselves on assembling a proficient and dedicated team comprising seasoned journalists and editors. This collective commitment drives us to provide our esteemed readership with nothing short of the most comprehensive, accurate, and captivating news coverage available.

    Transcending the bounds of New York City to encompass a broader scope, we ensure that our audience remains well-informed and engaged with the latest developments, both locally and beyond.

    NEWS

    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Real Estate
    Instagram Youtube

    © 2025 The New York Journals. All Rights Reserved.

    • About Us
    • Advertise
    • Contact Us
    No Result
    View All Result
    • Home
    • Business
    • Technology
    • Entertainment
    • Sports
    • Lifestyle
    • Health
    • Politics
    • Trending

    Copyright © 2023 The Nyjournals

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In