Archive for category: Misc

in Vietnam SINGAPORE (June 18): Keppel Asia Infrastructure Fund LP (KAIF) and Keppel, through its infrastructure division, have announced their plans to jointly sell their combined 80% interest in 800 Super Holdings. This transaction values the Singapore-based waste management company at over $600 million.Making the purchase is Actis, a leading growth market investor in sustainable infrastructure that has raised an impressive US$26 billion since its inception.KAIF and Keppel currently hold 48% and 32% interests respectively in 800 Super. They will be receiving their respective share of the consideration in cash upon completion of the sale. The remaining 20% interest in 800 Super is held by William Lee, the company’s co-founder and CEO. Lee will be divesting a 10% stake to Actis while retaining a 10% stake following the sale. In 2022, the Keppel entities had acquired their 80% stake in 800 Super for a total consideration of $380 million. This transaction marks KAIF’s first divestment, while it represents another good step in Keppel’s active asset monetisation programme, which is aimed at divesting between $10 and $12 billion by the end of next year.AdvertisementAdvertisementSo far, since October 2020 when this strategy was implemented, Keppel has sold $7.8 billion worth of assets.800 Super is one of three licensed public waste collectors in Singapore, providing municipal waste collection services. It was listed on the Singapore Exchange in the past but was privatised in 2019.Speaking about the divestment of 800 Super, Jopy Chiang, deputy chief investment officer and chief investment officer of Keppel’s infrastructure arm, says: “The sale of 800 Super highlights Keppel’s ability as a global asset manager and operator to identify unique opportunities and enhance and crystallise value from our investments at the right time.”“Throughout the past three years, we have utilised our expertise in infrastructure and worked closely with 800 Super’s management to enhance the company’s operations and expand its capabilities and reach in the market. As a result, 800 Super’s EBITDA has risen by 20% since Keppel’s acquisition in 2022. This transaction is also expected to generate an Internal Rate of Return in the mid-teens as well as capital gains equivalent to half the amount invested for KAIF’s limited partners upon completion,” Chiang adds.The sale is expected to be completed by the end of this year and is not expected to have any significant impact on Keppel’s net tangible assets per share or earnings per share for the current financial year.

Town planning is a critical aspect of urban development, with a focus on providing residents with easy access to their daily needs. This is exactly what has been achieved in the areas surrounding Downtown East, White Sands, and Pasir Ris Mall, as they feature a well-developed civic and recreational network. Residents of Coastal Cabana, which can be found at Jalan Loyang Besar EC, can enjoy the convenience of being just minutes away from a wide range of facilities, including sports amenities, medical clinics, education centres, and dining options. With the continual growth of various programs and activities in the area, families living in Coastal Cabana can look forward to a bustling calendar of events, such as festivals, markets, and workshops, without having to travel across town. As a result, there is a gradual increase in social cohesion and convenience within the community, making it easier for families to maintain their weeknight routines and host larger gatherings.