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Keppel
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Keppel Corp
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sfw2124
Senior |
05-Aug-2026 11:18
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📊 Keppel (BN4) 1H2026 Reality Check: Headline Slump vs. " New Keppel" Core SurgeFor retail investors tracking community discussions, Keppel' s latest 1H2026 earnings report reads like a classic tale of two completely different companies. Here is a quick-fire, redrafted breakdown of what is actually happening underneath the hood, complete with the bull case and necessary caveats. 1. The Headline Shock vs. Core Reality
2. What Dragged the Headline Down?
3. The Bull Case & Advantages (Why Analysts Are Maintaining " Buys" )
⚠ ️ The Obvious Caveats & Retail Risks
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beetlejuice
Master |
05-Aug-2026 10:43
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运 筹 帷 幄 决 胜 千 里 .
细 水 长 流 远 胜 后 劲 不 足 . 💰
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Joelton
Supreme |
05-Aug-2026 10:38
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Analysts upbeat on &lsquo New Keppel&rsquo core operations despite group&rsquo s net profit plunge [SINGAPORE] Analysts remained largely upbeat about Keppel&rsquo s : BN4 +0.89% core operations, despite a drop in the global asset manager and operator&rsquo s H1 net profit. The group reported a 59 per cent year-on-year plunge in net profit to S$155 million for H1. The drag came from its non-core asset portfolio, which posted a net loss of S$375 million, primarily due to S$165 million in legacy rig impairments, in addition to interest costs tied to these rigs. However, equity research houses emphasised that the operational engine of its continuing core business &ndash which it calls &ldquo New Keppel&rdquo &ndash remains in prime health. DBS said that the group &ldquo offers a unique and unrivalled proposition as a global asset manager with developer and operator capabilities in real estate and the green industrial space&rdquo . It added that Keppel has strong roots in engineering as well as a track record in capital management, and increasingly acts as a proxy for artificial intelligence-driven infrastructure demand. Looking past its non-core drag, &ldquo New Keppel&rdquo posted a 25 per cent rise in net profit to about S$530 million in H1, from S$424 million a year earlier. Analysts broadly concurred that the core earnings reported were in line with expectations. DBS noted in its report on Jul 31 that the asset manager and operator is seeing &ldquo improving earnings quality and return on equity&rdquo . &ldquo This trend should continue as the company focuses on shifting revenue from order book-based sources to fees and returns from its portfolio assets (real estate, infrastructure and digital assets),&rdquo the research house said. Funding goals Analysts highlighted a primary operational milestone &ndash Keppel reaching its funding goals well ahead of timeline. Funds under management (FUM) expanded to S$106 billion by end-July 2026, clearing its interim S$100 billion target set for the end of the year. UOB Kay Hian (UOBKH) said in a Jul 31 note that Keppel is &ldquo backed by favourable long-term secular trends&rdquo , with &ldquo proven fundraising/investment capabilities and deep operational expertise as an integrated asset manager and operator&rdquo . The group is aiming to scale its FUM to S$200 billion by 2030. DBS maintained its &ldquo buy&rdquo rating with a target price of S$13.30, emphasising that &ldquo FUM growth and the recovery/monetisation of non-core assets should enable the company to achieve its target 15 per cent return-on-equity target&rdquo . As part of its asset-light strategy, Keppel said it carried out about S$1.7 billion of asset monetisation in 2026 to date, and is on track to reach its full-year target of S$2 billion to S$3 billion. This includes a recently announced plan to monetise up to 10 legacy offshore rigs for about S$3.7 billion. Six of them are slated to be divested by this year for a total of S$1.2 billion. UOBKH also reiterated a &ldquo buy&rdquo call with an updated target price of S$13.26, up from S$13.23 previously. It stated that it expects &ldquo stronger H2 2026 core earnings for Keppel, at S$545 million (+22.2 per cent year on year), driven by the full half-year contribution from the KSC power plant&rdquo . &ldquo Fundamentals remain positive, as Keppel continues to divest its non-core assets, while scaling its fund management business towards its 2030 goals,&rdquo it added. Keppel declared a flat interim dividend of S$0.15 per share. &ldquo Coupled with our final dividend per share projection of S$0.19 and potentially S$0.10 special dividend, Keppel could pay S$0.44 in total for FY2026, implying a 4 per cent yield,&rdquo DBS said. Meanwhile, UOBKH said that by its estimate, Keppel could offer a 4.2 per cent yield in 2026 to 2028. |
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YuanLong94
Member |
05-Aug-2026 10:32
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sfw2124
Senior |
05-Aug-2026 00:20
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Here is a simple, plain-English breakdown of the narrative and the commentary regarding Keppel&rsquo s strategy: 1. Embracing Short-Term Dips for Buybacks
2. The 2030 Accountability Deadline
3. Step-by-Step Growth Instead of Rushing
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newbie19
Supreme |
04-Aug-2026 11:17
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Anyway we just hope Keppel starts to 加 油 from now onwards, that's the best solutions.
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YuanLong94
Member |
04-Aug-2026 10:51
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Personally I think Keppel did it on intentionally. M1 is an accident  mean maybe they expect a 9 dollar last year 2025 and 12 dollar on 2026   . Subsequent year 15 ,18 ,21 and 24 by Year 2030  so they will rather sharebuyback at lower price, so good new or bad new to them is fine for them because they can sharebuyback.  for CEO as long as by 2028 and 2030 , his rice bowl is safe if by 2028 or 2030 , Keppel share price is lesser than now , mostly likely he might be ask to step down. if he want to higher AUM or better profit , he will move forward Aermont deal from 2028 to now instead of waiting till 2028 for AUM transition So to me , progressively is their aim
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newbie19
Supreme |
04-Aug-2026 08:38
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Sir you are absolutely right..But what we meant is Keppel after soooooo
many years, it should do much better especially the SBB is still going on..
We expect it should be beyond $13 by now and $16 by year end.
Climb too slow. I thought with Gupta here will be much better..Alamak the other way round!!!!
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Newbie2025
Senior |
04-Aug-2026 04:31
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Sir, those who r with Keppel for long, knew that Keppel down and up is like drinking water. Anytime it can swallow and vomit out, can be as high as 50 to 60c..
Big bros r always shopping, we r just part of the ecosystem 🤣 🤣 🤣
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Newbie2025
Senior |
04-Aug-2026 04:24
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Sirs, I'm a peanut investor working hard. My investment is nothing compared to those my seniors who invested mils into banks, reits etc. Learn from their perseverance as well as knowledge gained over the years. Find out the facts fr the announcement and analyse the results..🙏 🙏 🙏
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newbie19
Supreme |
03-Aug-2026 21:39
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Yaya i also think so Sir is a rich man. Time for him buy us buffet dinner😆 .
My guess tmr Keppel will be up. Don't want to lose face..
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geographic
Senior |
03-Aug-2026 21:13
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Sir is a rich man. If tmr still perform like today will go sub $11.
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newbie19
Supreme |
03-Aug-2026 19:53
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Wah Sir, looks like you buy quite alot of shares from different counters wo...😊
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Newbie2025
Senior |
03-Aug-2026 18:15
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Yup Sirs, i find this drop fast and climb slow scenario is also applicale to Genting now. Poor reault one day drop 7 cents, then slowly take wks to mths to go up. Now at abt 64c..😇 😇 😇
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newbie19
Supreme |
03-Aug-2026 18:01
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Exactly, this is our main point. Climb like snail and drop like a sword.
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geographic
Senior |
03-Aug-2026 17:39
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Sir, Now you see why we are frustrated. Climb like a snail but drop like a stone, 慢 涨 急 跌 . Today, going to be in the 龙 虎 榜 again for STI Top Loser!
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Newbie2025
Senior |
03-Aug-2026 14:14
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Yes Sir, now this era is very different. High and it can go ven higher and higher. By the time we decide, game is over bcos it is very very high. So by the time we want to buy, we pay additional 20 to 30% higher to have it. Just like property, say one room condo, last time 500 to 600k, by now some is 1.2 to 1.5mil depending locations.Good location command higher price, same as quality stock lor..😇 😇 😇
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newbie19
Supreme |
03-Aug-2026 13:13
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I bought dbs from $12 to $25. Usually 1 or 2 lots. Make about $500 at least then sell.
Very active investors last time buy and sell..
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geographic
Senior |
03-Aug-2026 12:53
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I bought OCBC at $9 and sold at $12. Last time Bank shares don' t rise like current rate. 
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Newbie2025
Senior |
03-Aug-2026 12:10
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Yes but i didnt hold my OCBC and now buy back at higher $$$.. 😂
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