Keppel T&T may list data centre reit on SGX mainboard

Keppel Telecommunications & Transportation (Keppel T&T) is considering setting up a data centre real estate investment trust to list on the Singapore Exchange (SGX) mainboard.

It disclosed no further details in its results announcement on April 15.

The group eked out a 2.9 per cent rise in first quarter net profit to $15.4 million.

Revenue for the three months to March 31 was up 21.6 per cent at $48.7 million, due mainly to higher revenue generated from data centre and logistics divisions.

Consequently, operating profit increased by 5 per cent to $7.4 million.

Pretax profit rose by 7 per cent to $21.2 million, due mainly to higher operating profit and better performance from associated companies, partly offset by higher interest expense.

Earnings per share inched up to 2.8 cents from 2.7 cents previously while net asset value per share increased to 88 cents compared to 85 cents as at Dec 31.

Looking ahead, Keppel T&T said the logistics division further strengthened its Asia Pacific presence with the conversion of Indo-Trans Keppel Logistics Vietnam into a subsidiary, and the establishment of a subsidiary company in Australia in January.

Construction of the new logistics facility in Tampines is progressing on schedule.

In China, the operations of Sanshui and Wuhu ports continue smoothly while construction works for ongoing projects in Tianjin, Jilin and Anhui provinces are underway.

The group's data centre facilities continue to enjoy near full occupancy, capitalising on strong market demand.

Work for Keppel Datahub 2 is on schedule.

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