TSLA
Tesla
-- 230.580 NVDA
NVIDIA
-- 108.760 PLTR
Palantir
-- 78.050 AAPL
Apple
-- 220.840 GRRR
Gorilla Technology
-- 26.990 
$Kep Infra Tr (A7RU.SG)$ [Share Link: Keppel Infrastructure ...
SINGAPORE - Keppel Infrastructure Trust (KIT) will acquire a 50 per cent interest in Marina East Water from sponsor Keppel, with the proposed acquisition expected to be completed by the first quarter of 2025, it said on Nov 18.
Marina East Water, which owns the Keppel Marina East Desalination Plant, has an enterprise value of $323 million.
When the acquisition is completed, KIT and Keppel are set to own a 50 per cent joint-controlling stake each in Marina East Water.
Marina East Water, which owns the Keppel Marina East Desalination Plant, has an enterprise value of $323 million.
When the acquisition is completed, KIT and Keppel are set to own a 50 per cent joint-controlling stake each in Marina East Water.
The trust said the purchase is expected to contribute to the trust’s earnings growth, with pro-forma distribution per unit for financial year 2023 seen rising 0.4 per cent.
KIT’s assets under management will grow from $8.7 billion as at Sept 30 to about $9 billion upon the completion of the proposed acquisition, it added. The proposed acquisition has received in-principle approval from national water agency PUB.
KIT will get 100 per cent of the economic benefits from the Keppel Marina East Desalination Plant, while the facility’s operations and maintenance will continue to be carried out by Keppel’s infrastructure division until the end of the plant’s concession period in 2045.
KIT’s assets under management will grow from $8.7 billion as at Sept 30 to about $9 billion upon the completion of the proposed acquisition, it added. The proposed acquisition has received in-principle approval from national water agency PUB.
KIT will get 100 per cent of the economic benefits from the Keppel Marina East Desalination Plant, while the facility’s operations and maintenance will continue to be carried out by Keppel’s infrastructure division until the end of the plant’s concession period in 2045.
Ms Cindy Lim, chief executive of Keppel’s infrastructure division, said: “With a proven track record of stable operational performance, the partial sale of our interest is aligned with Keppel’s capital recycling strategy and our commitment as a sponsor of KIT to develop and contribute a pipeline of long-lived, stable-yield assets.”
Units of KIT were trading up 0.5 cent, or 1.1 per cent, at 44.5 cents as at 10.10am on Nov 18. THE BUSINESS TIMES
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
DividendKopi : Love to see stable long term pipeline of revenue
gentle Iguana_2693 DividendKopi : prepare for another round private placement of share at below market price that exclude retail investors. contrast that to Keppel DC reits (announcement and fund raising at one go) KIT speed is like hundred episodes Taiwanese drama.
DividendKopi gentle Iguana_2693 : Wah if dilute more I sure very sian -.-
104255742 : If want to own, own Keppel better lol