Keppel Infrastructure Trust Defends Portfolio Strategy as Distributable Income Climbs
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Keppel Infrastructure Trust reported a 24% year-on-year increase in distributable income to S$249.5 million for FY2025, driven by recent acquisitions and stable cash flows. Management defended its portfolio strategy at the AGM, explaining a S$38.5 million impairment on an offshore wind asset due to temporary low wind speeds and asserting that lower landfill pricing in Korea is cyclical. With net gearing at 39%, the trust maintains balance sheet headroom for future deals. Analysts maintain a 'Buy' rating with a S$0.60 price target.
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