0250 GMT - Keppel Infrastructure Trust's acquisition of a 50% equity interest in Marina East Water looks positive, OCBC Investment Research's Ada Lim says in a note. The bank maintains the trust's buy rating. The acquisition entitles the trust to full economic benefit from MEW, which owns Keppel Marina East Desalination Plant. The acquisition is expected to be accretive to unitholders, as the plant is a high-quality asset that will generate long-term stable cash flows, Lim says. The nature of this asset is also aligned with the trust's portfolio and deepens exposure to water treatment in Singapore, she adds. However, OCBC trims the trust's fair value estimate to S$0.500 from S$0.510 to reflect factors including a higher risk-free rate. Units are unchanged at S$0.450. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
February 05, 2025 21:50 ET (02:50 GMT)
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