News

Keppel Infrastructure Trust's Units Soar as Income Doubles

James L. Flint

• November 03, 2023

Units of Keppel Infrastructure Trust, listed on the Singapore stock exchange, experienced a significant increase in morning trade as its distributable income for the first nine months of the year nearly doubled. This impressive performance was attributed to new acquisitions and growth across the trust's portfolio.

According to FactSet, the units were recently up by 9.1% at 0.48 Singapore dollars (US$0.35), marking their largest daily gain since March 2020.

In a statement released after the market closed on Thursday, Keppel Infrastructure Trust reported a remarkable 93.2% surge in distributable income for the first nine months to reach S$266.07 million compared to the previous year.

The trust emphasized its consistent high availability and strong operational performance across its businesses and assets throughout the first nine months of 2023.

Thanks to its cost passed through mechanism and availability-based model, the trust remains resilient in the face of higher energy prices and inflation.

Keppel Infrastructure Trust focuses on various sectors, including energy transition, environmental services, and distribution & storage. The trust declared a special distribution of 2.33 Singapore cents per unit, bringing its total distribution per unit for the first nine months of 2023 to 5.23 Singapore cents, an impressive 82.5% increase compared to the previous year.