Shares & Derivatives
Keppel Ltd Generated a 61% Total Return in 2023: Can the Asset Manager Continue to Impress?
By The Smart Investor  •  January 17, 2024
The bellwether Straits Times Index pulled off a lacklustre performance last year, ending 0.3% below its 2022 close. However, there were a few standout performers within the blue-chip index. One of these stocks was Keppel Ltd (SGX: BN4). The conglomerate-turned-asset manager pulled off a stunning 61% total return last year. Keppel has been growing its business steadily over the past year, leading investors to wonder – can the group pull off a similar performance for 2024? Let us find out. Solid sets of financial metrics Keppel reported a robust set of financial results for the first nine months of 2023 (9M 2023) as well as progress for its asset monetisation target. Revenue for 9M 2023 grew 5% year on year to S$5.3 billion, driven by top-line growth for its Infrastructure and Connectivity divisions but offset by a weaker performance for the Real Estate division. Net profit for this period was significantly higher year on year, even after excluding discontinued operations....
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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