$Keppel(BN4.SG)Keppel continues to show a constructive trend, holding around the S$11.10 level as investors remain positive on its transformation into an asset-light infrastructure and asset management platform. The company’s growing exposure to AI data centres, power infrastructure and connectivity provides strong long-term growth potential, while its data-centre powerbank has expanded to more than 1GW.

Fundamentally, Keppel continues to benefit from asset monetisation, growing recurring fee income and capital recycling. Its shift towards infrastructure, data centres and asset management could improve earnings visibility while reducing reliance on traditional capital-intensive businesses.

📊 With AI infrastructure demand remaining strong and Keppel continuing to execute on its growth strategy, the medium-term outlook remains positive.Hold at current levels and look for opportunities to accumulate on pullbacks towards S$10.80–11.00. A sustained break above S$11.30–11.50 could signal another leg higher.