DANNY TEOH
Chairman; Non-Executive and Non-Independent Director
Keppel BN4
SGD 9.82
-0.71% -0.07 Updated 13 Nov 2026, 17:16 SGT
Company profile
The business, the people and the ownership behind Keppel.
Investor relations ↗Official company website
Business overview
About the company
Keppel manages and operates alternative real assets providing energy, environmental and digital infrastructure solutions. Its business combines investment management with operating capabilities across assets supporting decarbonisation and digitalisation.
Listed security
Company & listing
- Full Company Name
- KEPPEL LTD.
- Trading Currency
- SGD
- Website
- www.keppel.com
- Listing
- Listed on 24 October 1980 on SGX Mainboard
- ISIN Code
- SG1U68934629
Board & management
Leadership
PIYUSH GUPTA
Deputy Chairman; Non-Executive and Independent Director
LOH CHIN HUA
Executive Director; Chief Executive Officer
SHIRISH APTE
Non-Executive and Lead Independent Director
THAM SAI CHOY
Non-Executive and Independent Director
PENNY GOH
Non-Executive and Independent Director
OLIVIER BLUM
Non-Executive and Independent Director
JIMMY NG
Non-Executive and Independent Director
ANG WAN CHING
Non-Executive and Independent Director
Roles listed in Keppel Annual Report 2025; current appointments are not independently verified.
Holdings
Ownership
Temasek Holdings (Private) Limited
Direct Interest: 371,408,292 shares (20.64%); Deemed Interest: 14,877,868 shares (0.82%); Total Interest: 386,286,160 shares (21.46%)
As at 2 March 2026; direct, deemed and total interests. Table columns: Direct Interest (No. of Shares, %); Deemed Interest (No. of Shares, %); Total Interest (No. of Shares, %). As reported at 2 March 2026BlackRock, Inc
Direct Interest: – shares, –%; Deemed Interest: 97,572,755 shares, 5.42%; Total Interest: 97,572,755 shares, 5.42%
As at 2 March 2026; direct, deemed and total interests. Table columns: Direct Interest (No. of Shares, %); Deemed Interest (No. of Shares, %); Total Interest (No. of Shares, %). As reported at 2 March 2026Danny Teoh
195,825; 229,825; 229,825
Keppel Ltd. ordinary shares As reported at 2026-01-21Piyush Gupta
–; –; –
Keppel Ltd. ordinary shares As reported at 2026-01-21Loh Chin Hua
6,086,829; 7,417,961; 7,417,961
Keppel Ltd. ordinary shares As reported at 2026-01-21Loh Chin Hua
38,500; 38,500; 38,500
Keppel Ltd. ordinary shares (deemed interest) As reported at 2026-01-21Tham Sai Choy
188,570; 199,570; 199,570
Keppel Ltd. ordinary shares As reported at 2026-01-21Penny Goh
62,000; 73,000; 73,000
Keppel Ltd. ordinary shares As reported at 2026-01-21Shirish Moreshwar Apte
19,000; 31,000; 31,000
Keppel Ltd. ordinary shares As reported at 2026-01-21Olivier Pascal Marius Blum
9,000; 16,000; 16,000
Keppel Ltd. ordinary shares As reported at 2026-01-21Jimmy Ng Hwee Kim
10,000; 19,000; 19,000
Keppel Ltd. ordinary shares As reported at 2026-01-21Ang Wan Ching
4,000; 13,000; 13,000
Keppel Ltd. ordinary shares As reported at 2026-01-21Loh Chin Hua
213,376; –; –
Unvested restricted shares to be delivered after 2022 As reported at 2026-01-21Loh Chin Hua
302,274; 151,137; 151,137
Unvested restricted shares to be delivered after 2023 As reported at 2026-01-21Loh Chin Hua
–; 217,240; 217,240
Unvested restricted shares to be delivered after 2024 As reported at 2026-01-21Loh Chin Hua
400,000; –; –
Contingent performance shares issued in 2022, delivery after 2024 As reported at 2026-01-21Loh Chin Hua
172,000; –; –
Contingent performance shares issued in 2023, delivery after 2024 As reported at 2026-01-21Loh Chin Hua
450,000; 450,000; 450,000
Contingent performance shares issued in 2023, delivery after 2025 As reported at 2026-01-21Loh Chin Hua
450,000; 450,000; 450,000
Contingent performance shares issued in 2024, delivery after 2026 As reported at 2026-01-21Loh Chin Hua
–; 450,000; 450,000
Contingent performance shares issued in 2025, delivery after 2027 As reported at 2026-01-21Loh Chin Hua
970,000; 970,000; 970,000
Contingent performance shares — Transformation Incentive Plan issued in 2021, delivery after 2025 As reported at 2026-01-21Loh Chin Hua
417,100; 417,100; 417,100
Contingent performance shares — Transformation Incentive Plan issued in 2023, delivery after 2025 As reported at 2026-01-21Total interests include direct and deemed holdings and may overlap across holders. These percentages should not be added together.
Registered & depository holders 20 holders
Registered holdings, including nominees and depositories; these do not establish ultimate beneficial ownership. As reported at 2 March 2026 · PDF p. 234
| Registered holder | Interest | Shares / units | Source |
|---|---|---|---|
| Temasek Holdings (Private) Ltd | 371,408,292 shares; 20.64% | PDF p. 2342 March 2026 | |
| Citibank Nominees Singapore Pte Ltd | 321,367,357 shares; 17.86% | PDF p. 2342 March 2026 | |
| HSBC (Singapore) Nominees Pte Ltd | 143,769,433 shares; 7.99% | PDF p. 2342 March 2026 | |
| DBS Nominees (Private) Limited | 134,937,803 shares; 7.50% | PDF p. 2342 March 2026 | |
| DBSN Services Pte. Ltd. | 119,792,245 shares; 6.66% | PDF p. 2342 March 2026 | |
| Raffles Nominees (Pte.) Limited | 86,938,296 shares; 4.83% | PDF p. 2342 March 2026 | |
| United Overseas Bank Nominees (Private) Limited | 45,855,134 shares; 2.55% | PDF p. 2342 March 2026 | |
| BPSS Nominees Singapore (Pte.) Ltd. | 38,699,263 shares; 2.15% | PDF p. 2342 March 2026 | |
| OCBC Securities Private Limited | 15,705,471 shares; 0.87% | PDF p. 2342 March 2026 | |
| OCBC Nominees Singapore Private Limited | 13,455,201 shares; 0.75% | PDF p. 2342 March 2026 | |
| Phillip Securities Pte Ltd | 10,429,925 shares; 0.58% | PDF p. 2342 March 2026 | |
| Shanwood Development Pte Ltd | 7,040,000 shares; 0.39% | PDF p. 2342 March 2026 | |
| IFAST Financial Pte. Ltd. | 5,342,853 shares; 0.30% | PDF p. 2342 March 2026 | |
| UOB Kay Hian Private Limited | 4,681,997 shares; 0.26% | PDF p. 2342 March 2026 | |
| Chen Chun Nan Mrs Chen King Her nee Chow | 4,300,000 shares; 0.24% | PDF p. 2342 March 2026 | |
| Moomoo Financial Singapore Pte. Ltd. | 3,956,980 shares; 0.22% | PDF p. 2342 March 2026 | |
| DB Nominees (Singapore) Pte Ltd | 2,737,923 shares; 0.15% | PDF p. 2342 March 2026 | |
| Maybank Securities Pte. Ltd. | 2,670,127 shares; 0.15% | PDF p. 2342 March 2026 | |
| BNP Paribas Nominees Singapore Pte. Ltd. | 2,514,115 shares; 0.14% | PDF p. 2342 March 2026 | |
| CGS International Securities Singapore Pte. Ltd. | 2,178,951 shares; 0.12% | PDF p. 2342 March 2026 | |
Group structure
Subsidiaries, joint ventures and associates
Source markers are preserved in original source quotations and row evidence and explained by the schedule: 1/2/3 identify auditor categories; + indicates interests held jointly with other subsidiaries; * marks transfers/amalgamations; ^ marks a subsidiary reclassified as a joint venture; # marks reclassification to subsidiary; n marks incorporation/acquisition.
Original source discrepancy: the closing note states 159 significant subsidiaries, associated companies and joint ventures; independent row counts and source coordinates identify 158 visible entities (108 subsidiaries and 50 associated companies/joint ventures). All 158 visible rows are included; the one-entity difference remains unresolved.
| Company | Market | Ownership interest |
|---|---|---|
| Keppel Infrastructure Holdings Pte Ltd*Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Energy Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Electric Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Electricity, energy and power supply and general wholesale trade | |
| Keppel Gas Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Purchase and sale of gaseous fuels | |
| Keppel DHCS Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Development of district heating and cooling system for the purpose of air cooling and other utility services | |
| Keppel Seghers Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Provision of environmental, technologies, engineering works & construction activities | |
| Keppel Seghers Holdings BVGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Netherlands; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Seghers Belgium NVGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Belgium; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Provider of services and solutions to the environmental industry related to solid waste treatment | |
| Keppel Seghers Engineering Singapore Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Engineering works, construction and | |
| Keppel Integrated Engineering LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel EnServices Investment Pte. Ltd.Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Renewable Investments Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Energy Switzerland Holding AGGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Switzerland; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Renewables Switzerland Holding AGGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Switzerland; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Core Infrastructure Fund, LPGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 91%; Effective Equity Interest (2025): 91%; Effective Equity Interest (2024): 91%; Principal Activities: Investment holding | |
| Keppel Infrastructure Fund, LPGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): 68%; Effective Equity Interest (2025): 68%; Effective Equity Interest (2024): 87%; Principal Activities: Investment holding | |
| Cloud Alpha Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 210 | Country: Singapore; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 60%; Principal Activities: Investment holding | |
| Keppel Real Estate (China) LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Land Estate Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Bay Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Changzhou Fushi Housing Development Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Corredance Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Domenico Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Estella JV Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Vietnam; Gross Interest (2025): 98%; Effective Equity Interest (2025): 98%; Effective Equity Interest (2024): 98%; Principal Activities: Property investment and development | |
| Keppel Point Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100+%; Effective Equity Interest (2025): 100+%; Effective Equity Interest (2024): 100+%; Principal Activities: Investment holding | |
| Jencity LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: BVI; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| K-Commercial Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property investment | |
| Katong Retail TrustGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment trust | |
| Keppel Hong Da (Tianjin Eco-City) Property Development Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Keppel Hong Yuan (Tianjin Eco-City) Property Development Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Wuxi Waterfront Property Development Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Keppel Land (Saigon Centre) LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: HK; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Real Estate (Singapore) Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding and | |
| Keppel Land Financial Services Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Financial services | |
| Keppel Seasons Residences Property Development (Wuxi) Co., LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Krystal Investments Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Merryfield Investment Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| OIL (Asia) Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Parksville Development Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Pasir Panjang Realty Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Peplamo Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| PT Kepland InvestamaGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Indonesia; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property investment | |
| Riviera Point LLCGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Vietnam; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Saigon Centre Investment LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: BVI; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Saigon Sports City LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Vietnam; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Beijing Changsheng Business Consulting Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property investment | |
| Beijing Changsheng Property Management Co LtdGross Interest 2025; Effective Equity Interest 2025 and 2024; 31 December columnsPDF p. 212 | Country: China; Gross Interest: 100%; Effective Equity Interest: 100% / 100%; Principal Activities: Property investment | |
| Shanghai Floraville Land Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: China; Gross Interest (2025): 99%; Effective Equity Interest (2025): 99%; Effective Equity Interest (2024): 99%; Principal Activities: Property investment | |
| Shanghai Ji Lu Land Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: China; Gross Interest (2025): 99%; Effective Equity Interest (2025): 99%; Effective Equity Interest (2024): 99%; Principal Activities: Property investment | |
| Shanghai Ji Xiang Land Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Shanghai Merryfield Land Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: China; Gross Interest (2025): 99%; Effective Equity Interest (2025): 99%; Effective Equity Interest (2024): 99%; Principal Activities: Property development | |
| Spring City Golf & Lake Resort Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: China; Gross Interest (2025): 72%; Effective Equity Interest (2025): 72%; Effective Equity Interest (2024): 72%; Principal Activities: Golf club operations and development and property development | |
| Straits Property Investments Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Group Eco-City Investments Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 212 | Country: Singapore; Gross Interest (2025): 100+%; Effective Equity Interest (2025): 100+%; Effective Equity Interest (2024): 100+%; Principal Activities: Investment holding | |
| Tianjin Fulong Property Development Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: China; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 100%; Principal Activities: Property development | |
| Bangalore Tower Pvt LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: India; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Property investment | |
| Space Solutions India Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Land Vietnam Properties Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore/ Vietnam; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Aintree Assets LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: BVI; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Pacific Oak US REITGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 7%; Effective Equity Interest (2025): 7%; Effective Equity Interest (2024): 7%; Principal Activities: Real estate investment trust | |
| Keppel REIT Investment Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Watermark Retirement Communities, LLCGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: USA; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): –%; Principal Activities: Management company | |
| DC REIT Holdings Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Lipalton Pte. Ltd.Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Monestine Pte. Ltd.Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Denton Investment Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Smart City (Tianjin) Data Technology Co LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Business consultancy | |
| Keppel Capital Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore/ USA; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Yong Xiang Corporate Management (Shanghai) Company LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: China; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Business consultancy | |
| Silverio Developers Private LimitedGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: India; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): –%; Principal Activities: Property investment and development | |
| Keppel Telecommunications & Transportation LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 100%; Principal Activities: Investment, management | |
| Keppel Data Centres Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Data Centres Holding Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding and management services | |
| Keppel Communications Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Trading and provision of communications systems and accessories | |
| Keppel Telecoms Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Almere Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Apsilon Ventures Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel DC Investment Holdings Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel DC Malaysia 1 Sdn BhdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Malaysia; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Lease, operation and management of data centres | |
| Keppel Konnect Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Konnectivity Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 80%; Effective Equity Interest (2025): 80%; Effective Equity Interest (2024): 80%; Principal Activities: Investment holding | |
| M1 LimitedGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 100+%; Effective Equity Interest (2025): 84+%; Effective Equity Interest (2024): 84+%; Principal Activities: Telecommunications services | |
| M1 Net LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 100+%; Effective Equity Interest (2025): 84+%; Effective Equity Interest (2024): 84+%; Principal Activities: Provision of fixed and other related telecommunication services | |
| M1 Shop Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 84+%; Effective Equity Interest (2024): 84+%; Principal Activities: Retail sales of telecommunication equipment and accessories | |
| AsiaPac Technology Pte. Ltd.Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 100+%; Effective Equity Interest (2025): 84+%; Effective Equity Interest (2024): 84+%; Principal Activities: ICT Solutions Provider | |
| Glocomp Systems (M) Sdn. Bhd.Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Malaysia; Gross Interest (2025): 70+%; Effective Equity Interest (2025): 59+%; Effective Equity Interest (2024): 59+%; Principal Activities: ICT Solutions Provider | |
| GCIS Sdn. Bhd.Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Malaysia; Gross Interest (2025): 70+%; Effective Equity Interest (2025): 59+%; Effective Equity Interest (2024): 59+%; Principal Activities: ICT Solutions Provider | |
| M1 Digital Labs Sdn BhdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Malaysia; Gross Interest (2025): 70+%; Effective Equity Interest (2025): 59+%; Effective Equity Interest (2024): 59+%; Principal Activities: ICT Solutions Provider | |
| ADG National Investment and Technology Development CorporationGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Vietnam; Gross Interest (2025): 70+%; Effective Equity Interest (2025): 59+%; Effective Equity Interest (2024): –%; Principal Activities: Trading of technology products and | |
| Keppel Capital Holdings Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Capital International Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Provision of management services | |
| Keppel Capital Investment Holdings Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel Fund Management LimitedGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Fund management | |
| Keppel DC REIT Management Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Real Estate Investment Trust (“REIT”) | |
| Keppel Capital Three Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Keppel REIT Management LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment advisory services and property fund management | |
| Keppel Infrastructure Fund Management Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Trust Management | |
| Kephinance Investment Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding and central finance administrator | |
| Kepinvest Holdings Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Kepventure Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Investment holding | |
| Rigco Holding Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Asset owning and chartering of rig drilling assets | |
| FELS Asset Co 1 Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Chartering of rigs, ships, barges and boats | |
| FELS Asset Co 2 Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Chartering of rigs, ships, barges and boats | |
| FELS Asset Co 3 Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Chartering of rigs, ships, barges and boats | |
| FELS Asset Co 4 Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Chartering of rigs, ships, barges and boats | |
| FELS Asset Co 5 Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Chartering of rigs, ships, barges and boats | |
| FELS Asset Co 6 Pte LtdGross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Chartering of rigs, ships, barges and boats | |
| Keppel Management Ltd.Gross Interest and Effective Equity Interest; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Singapore; Gross Interest (2025): 100%; Effective Equity Interest (2025): 100%; Effective Equity Interest (2024): 100%; Principal Activities: Holding, management and investment company | |
| Keppel Merlimau Cogen Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 49%; Effective Equity Interest (2025): 46%; Effective Equity Interest (2024): 49%; Principal Activities: Commercial power generation | |
| MET Holding AGAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Switzerland; Gross Interest (2025): 10%; Effective Equity Interest (2025): 10%; Effective Equity Interest (2024): 10%; Principal Activities: Integrated energy company | |
| Tianjin Eco-City Energy Investment & Construction Co LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: China; Gross Interest (2025): 20%; Effective Equity Interest (2025): 20%; Effective Equity Interest (2024): 20%; Principal Activities: Investment and implementation of energy and utilities related infrastructure | |
| Harmony Holdco Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 32%; Effective Equity Interest (2025): 40%; Effective Equity Interest (2024): 40%; Principal Activities: Integrated environmental solutions provider | |
| Keppel MET Renewables AGAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Switzerland; Gross Interest (2025): 50%; Effective Equity Interest (2025): 50%; Effective Equity Interest (2024): 50%; Principal Activities: Renewable energy generation | |
| Keppel Sakra Cogen Pte. Ltd.Associated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 30%; Effective Equity Interest (2025): 43%; Effective Equity Interest (2024): 43%; Principal Activities: Commercial power generator | |
| One Eco. Co. Ltd.Associated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: South Korea; Gross Interest (2025): 18%; Effective Equity Interest (2025): 32%; Effective Equity Interest (2024): 32%; Principal Activities: Investment holding | |
| Keppel-Pierfront Private Credit Fund LPAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 22%; Effective Equity Interest (2025): 22%; Effective Equity Interest (2024): 23%; Principal Activities: Investment holding | |
| Keppel Asia Infrastructure Fund LPAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 19%; Effective Equity Interest (2025): 19%; Effective Equity Interest (2024): 19%; Principal Activities: Investment holding | |
| Cloud Alpha Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 211 | Country: Singapore; Gross Interest (2025): 60%; Effective Equity Interest (2025): 60%; Effective Equity Interest (2024): –%; Principal Activities: Investment holding | |
| City Square Office Co LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Myanmar; Gross Interest (2025): 40%; Effective Equity Interest (2025): 40%; Effective Equity Interest (2024): 40%; Principal Activities: Property development | |
| Empire City LLCAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Vietnam; Gross Interest (2025): 40%; Effective Equity Interest (2025): 40%; Effective Equity Interest (2024): 40%; Principal Activities: Property development | |
| EM Services Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Singapore; Gross Interest (2025): 25%; Effective Equity Interest (2025): 25%; Effective Equity Interest (2024): 25%; Principal Activities: Property management | |
| Kapstone Construction Private LimitedAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: India; Gross Interest (2025): 49%; Effective Equity Interest (2025): 49%; Effective Equity Interest (2024): 49%; Principal Activities: Real estate construction and development | |
| Keppel Land Watco I Co LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Vietnam; Gross Interest (2025): 68%; Effective Equity Interest (2025): 45%; Effective Equity Interest (2024): 45%; Principal Activities: Property investment and development | |
| Keppel Land Watco II Co LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Vietnam; Gross Interest (2025): 68%; Effective Equity Interest (2025): 45%; Effective Equity Interest (2024): 45%; Principal Activities: Property investment and development | |
| Nam Long Investment CorporationAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 213 | Country: Vietnam; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 8%; Principal Activities: Trading of development properties | |
| Nanjing Zhijun Property Development Co LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: China; Gross Interest (2025): 25%; Effective Equity Interest (2025): 25%; Effective Equity Interest (2024): 25%; Principal Activities: Property development | |
| North Bund Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Singapore; Gross Interest (2025): 30%; Effective Equity Interest (2025): 30%; Effective Equity Interest (2024): 30%; Principal Activities: Investment holding | |
| Raffles Quay Asset Management Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Singapore; Gross Interest (2025): 33%; Effective Equity Interest (2025): 33%; Effective Equity Interest (2024): 33%; Principal Activities: Property management | |
| Renown Property Holdings (M) Sdn BhdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Malaysia; Gross Interest (2025): 40%; Effective Equity Interest (2025): 40%; Effective Equity Interest (2024): 40%; Principal Activities: Property investment | |
| Sino-Singapore Tianjin Eco-City Investment and Development Co., LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: China; Gross Interest (2025): 50%; Effective Equity Interest (2025): 45%; Effective Equity Interest (2024): 45%; Principal Activities: Property development | |
| South Rach Chiec LLCAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 42%; Principal Activities: Property development | |
| Vision (III) Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Singapore; Gross Interest (2025): 30%; Effective Equity Interest (2025): 30%; Effective Equity Interest (2024): 30%; Principal Activities: Investment holding | |
| Win Up Investment LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: China; Gross Interest (2025): 30%; Effective Equity Interest (2025): 30%; Effective Equity Interest (2024): 30%; Principal Activities: Investment holding | |
| Tianjin Fushi Property Development Co LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: China; Gross Interest (2025): 49%; Effective Equity Interest (2025): 49%; Effective Equity Interest (2024): 49%; Principal Activities: Property development | |
| New Binh Trung Real Estate Company LimitedAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): 45%; Effective Equity Interest (2025): 45%; Effective Equity Interest (2024): 45%; Principal Activities: Property development | |
| Phu Loc Real Estate Investment JSCAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): 60%; Effective Equity Interest (2025): 60%; Effective Equity Interest (2024): 60%; Principal Activities: Property development | |
| Keppel REITAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Singapore; Gross Interest (2025): 37+%; Effective Equity Interest (2025): 37+%; Effective Equity Interest (2024): 37+%; Principal Activities: Real estate investment trust | |
| Watermark Retirement Communities, LLCAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: USA; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 50%; Principal Activities: Management company | |
| Keppel Land Watco IVAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): 45%; Effective Equity Interest (2025): 45%; Effective Equity Interest (2024): 68%; Principal Activities: Property development | |
| Keppel Land Watco VAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): 45%; Effective Equity Interest (2025): 45%; Effective Equity Interest (2024): 68%; Principal Activities: Property development | |
| VN Prosperity Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): 50%; Effective Equity Interest (2025): 50%; Effective Equity Interest (2024): 50%; Principal Activities: Investment holding | |
| Saigon Sports City Ltd^Associated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): 30%; Effective Equity Interest (2025): 30%; Effective Equity Interest (2024): –%; Principal Activities: Property development | |
| Doan Nguyen House Trading Investment Company LimitedAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Vietnam; Gross Interest (2025): 45%; Effective Equity Interest (2025): 45%; Effective Equity Interest (2024): 45%; Principal Activities: Real estate trading | |
| Bellenden Investments LimitedAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: BVI; Gross Interest (2025): 54%; Effective Equity Interest (2025): 54%; Effective Equity Interest (2024): 54%; Principal Activities: Investment holding | |
| Gaenari (IV) Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: Singapore; Gross Interest (2025): 56%; Effective Equity Interest (2025): 56%; Effective Equity Interest (2024): 56%; Principal Activities: Property management | |
| Tianjin Fulong Property Development Co LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 214 | Country: China; Gross Interest (2025): 70%; Effective Equity Interest (2025): 70%; Effective Equity Interest (2024): –%; Principal Activities: Property development | |
| Computer Generated Solutions IncAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: USA; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 21%; Principal Activities: IT consulting and outsourcing provider | |
| Keppel Midgard Holdings Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 40%; Effective Equity Interest (2025): 40%; Effective Equity Interest (2024): 40%; Principal Activities: Telecommunications network operation | |
| Memphis 1 Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): –%; Effective Equity Interest (2025): –%; Effective Equity Interest (2024): 51%; Principal Activities: Data centre facilities and colocation services | |
| Keppel DC REITAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 19%; Effective Equity Interest (2025): 19%; Effective Equity Interest (2024): 17%; Principal Activities: Real estate investment trust – Data centre facilities and colocation services | |
| Keppel Data Centre Fund II LPAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 41%; Effective Equity Interest (2025): 41%; Effective Equity Interest (2024): 41%; Principal Activities: Investment holding and fund management | |
| Alpha DC Fund Private LimitedAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 215 | Country: Singapore; Gross Interest (2025): 65%; Effective Equity Interest (2025): 65%; Effective Equity Interest (2024): 65%; Principal Activities: Investment holding and fund management | |
| M1 Network Private LimitedAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 50+%; Effective Equity Interest (2025): 42+%; Effective Equity Interest (2024): 42+%; Principal Activities: Telecommunications services | |
| Antina Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 216 | Country: Singapore; Gross Interest (2025): 50+%; Effective Equity Interest (2025): 50+%; Effective Equity Interest (2024): 50+%; Principal Activities: Mobile cellular and other wireless telecommunication network operation | |
| Keppel Pacific Oak US REIT Management Pte. Ltd.Associated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 50%; Effective Equity Interest (2025): 50%; Effective Equity Interest (2024): 50%; Principal Activities: Property management | |
| Prime US Reit Management Pte LtdAssociated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Singapore; Gross Interest (2025): 30%; Effective Equity Interest (2025): 30%; Effective Equity Interest (2024): 30%; Principal Activities: Property management | |
| Aermont Capital S.à r.l.Associated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 217 | Country: Luxembourg; Gross Interest (2025): 50%; Effective Equity Interest (2025): 50%; Effective Equity Interest (2024): 50%; Principal Activities: Real estate fund management, provision of management services and investment holding | |
| Floatel International Ltd Notes:Associated Companies and Joint Ventures; 31 December 2025 columns; 2024 comparativePDF p. 218 | Country: Bermuda; Gross Interest (2025): 50%; Effective Equity Interest (2025): 50%; Effective Equity Interest (2024): 50%; Principal Activities: Operating accommodation and construction support vessels (floatels) for the offshore oil and gas industry | |
Ownership interests and geographic information follow the annual report. Comparative years and footnote markers retain the report’s notation.
Senior executives
Key management
Key management
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Loh Chin Hua | Chief Executive Officer | PDF p. 22 | |
| Kevin Chng | Chief Financial Officer | PDF p. 22 | |
| Manjot Singh Mann | Chief Executive Officer, Connectivity; Chief Digital Officer | PDF p. 22 | |
| Louis Lim | Chief Executive Officer, Real Estate | PDF p. 22 | |
| Christina Tan | Chief Executive Officer, Fund Management | PDF p. 22 | |
| Karen Teo | Company Secretary | PDF p. 22 | |
| Tok Soo Hwa | Deputy Chief Financial Officer | PDF p. 22 | |
| Yeo Meng Hin | Chief Human Resource Officer | PDF p. 22 | |
| Ho Tong Yen | Chief Sustainability Officer | PDF p. 22 | |
| Ang Sock Cheng | Chief Operating Officer | PDF p. 22 |
Extracted from Keppel Annual Report 2025 and checked against the cited pages; see the original report for full context.
Related parties, people & properties
Other disclosures
Related party transactions
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Total Interested Person Transactions | 410,821 $'000 | Group, FY2025, aggregate value of all IPTs excluding transactions <$100,000 and those under shareholders' mandate (Rule 920) | PDF p. 219 |
| Total Interested Person Transactions | 506,773 $'000 | Group, FY2025, IPTs conducted under shareholders' mandate pursuant to Rule 920 of SGX Listing Manual | PDF p. 219 |
| StarHub Group | 86,045 $'000 | FY2025, non-mandate column; Sale of Goods and Services | PDF p. 219 |
| Keppel Infrastructure Trust Group | 32,241 $'000 | FY2025, non-mandate column; Sale of Goods and Services | PDF p. 219 |
| Mediacorp Pte Ltd | 173,513 $'000 | FY2025, shareholders' mandate column; Sale of Goods and Services | PDF p. 219 |
| PSA International Group | 23,450 $'000 | FY2025, non-mandate column; Sale of Goods and Services | PDF p. 219 |
| Clifford Capital Group | 29,118 $'000 | FY2025, non-mandate column; Treasury Transactions | PDF p. 219 |
| Keppel Infrastructure Trust Group | 130,929 $'000 | FY2025, non-mandate column; Divestment | PDF p. 219 |
| Seatrium Group | 24,600 $'000 | FY2025, non-mandate column; Divestment | PDF p. 219 |
| Keppel Infrastructure Trust Group | 14,774 $'000 | FY2025, non-mandate column; Investment | PDF p. 219 |
| Sales of goods, services and/or fixed assets to | 421,231 $'000 | Group, 2025 (2024: 660,141); associated companies 269,983, joint ventures 90,995, other related parties 60,253 | PDF p. 187 |
| Purchase of goods and/or services from | 790,853 $'000 | Group, 2025 (2024: 729,303); associated companies 280,953, joint ventures 232,164, other related parties 277,736 | PDF p. 187 |
| Treasury transactions with | 45,571 $'000 | Group, 2025 (2024: 46,315); associated companies 32,961, joint ventures 12,610 | PDF p. 187 |
Contingent liabilities
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Continuing Operations | 1,719,551 $'000 | Group, 2025 (2024: 1,919,861); Company 2025 326,723 (2024: 285,562) | PDF p. 186 |
| Guarantees in respect of banks and other loans granted to subsidiaries, | 780,471 $'000 | Group, 2025 (2024: 662,775); Company 2025 326,723 (2024: 285,562) | PDF p. 186 |
| Bank guarantees | 248,977 $'000 | Group, 2025 (2024: 308,898); Company dash | PDF p. 186 |
| Guarantees in respect of performance on a contract by a related party | 194,505 $'000 | Group, 2025 (2024: 524,922) | PDF p. 186 |
| Guarantee in favour of a third party in respect to performance by a | 328,855 $'000 | Group, 2025 (2024: 342,048) | PDF p. 186 |
| Payment undertakings in favour of related and third parties (Note 34(iii)) | 166,743 $'000 | Group, 2025 (2024: dash) | PDF p. 186 |
Director remuneration
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Danny Teoh | 750,000 $ | FY2025, Chairman, total remuneration (fees cash 525,000; shares 225,000) | PDF p. 73 |
| Piyush Gupta9 | 105,863 $ | FY2025, prorated from 1 July 2025 appointment | PDF p. 73 |
| Shirish Apte | 282,000 $ | FY2025 | PDF p. 73 |
| Tham Sai Choy | 253,000 $ | FY2025 | PDF p. 73 |
| Penny Goh | 248,000 $ | FY2025 | PDF p. 73 |
| Olivier Blum10 | 190,134 $ | FY2025, prorated | PDF p. 73 |
| Jimmy Ng | 201,000 $ | FY2025 | PDF p. 73 |
| Ang Wan Ching | 201,000 $ | FY2025 | PDF p. 73 |
| Teo Siong Seng11 | 50,786 $ | FY2025, retired 21 April 2025; prorated | PDF p. 73 |
| Directors' total fees | $2,281,783 | FY2025, footnote 3 | PDF p. 73 |
Employees
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Average headcount (number) | 4,964 number | Group, 2025 (2024: 5,249; 2023: 12,245*; 2022: 17,238*; 2021: 16,393) | PDF p. 232 |
Properties
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Ocean Financial Centre | 999 years leasehold | Held by Keppel REIT; effective Group interest 37%; Collyer Quay, Singapore | PDF p. 226 |
| The Plaza Buildings | Freehold | Held by Keppel Pacific Oak US REIT; effective Group interest 7%; Bellevue, Washington, USA | PDF p. 227 |
Subsequent events
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Pune Kharadi Tower Pvt. Ltd. (PKTPL) | This was subsequently completed in January 2026. | Group; dilution of ownership in PKTPL from 100% to 49%, agreement dated 12 December 2025 | PDF p. 207 |
| Keppel DC Singapore 3 (KDC SGP 3) and Keppel DC Singapore 4 (KDC SGP 4) | This was subsequently completed in February 2026. | Group; divest 10% interest in KDC SGP 3 and 1% interest in KDC SGP 4, agreement dated 16 December 2025 | PDF p. 207 |
Extracted from Keppel Annual Report 2025 and checked against the cited pages; see the original report for full context.
Corporate information
Registration & contacts
- Incorporated In
- SINGAPORE
- Incorporated On
- 03 Aug 1968
- [email protected]
- Telephone
- 65 62706666
- Fax
- 65 64136391
- Registered Office
-
1 HarbourFront Avenue
#18-01 Keppel Bay Tower
Singapore 098632 - Secretary
-
Karen Teo
Teong Li Hui Samantha - Registrar / Transfer Agent
- BOARDROOM CORPORATE & ADVISORY SERVICES PTE. LTD.
- Registrar Address
- 1 Harbourfront Avenue, Keppel Bay Tower, #14-07, Singapore 098632
- Auditors
- PRICEWATERHOUSECOOPERS LLP
- Other Stock Exchange Listings
- *SINGAPORE EXCHANGE LTD.
- Country
- SINGAPORE
- Security Type
- stocks