Singapore's Keppel Ltd announced on Thursday that its net profit for the first quarter, excluding legacy assets in offshore and maritime (O&M), increased by 25%. This was due to a strong performance from its infrastructure segment, and a stronger performance in asset-management.

Keppel's asset management fees increased by 9% on an annual basis to S$96.9 million ($72.99million).

The company is

transitioning

It aims to manage S$200 billion in assets by 2030. The company reported that it has monetized S$347m in assets so far this year.

Keppel has not disclosed detailed revenue or profit figures for the first quarter. However, it did say that its net profit in the first quarter, which includes legacy O&M assets and other assets, had more than doubled.

(source: Reuters)