Keppel Corporation's stock is soaring 3.44% in Thursday's trading session following the release of its impressive first-quarter 2025 results. The Singapore-based conglomerate reported a significant 25% year-on-year increase in net profit, excluding legacy offshore and marine assets, driven by robust performance across its key business segments.

The company's strong showing was primarily attributed to steady earnings in its infrastructure division, improved performance in the real estate segment, and a notable contribution from its growing asset management business. Keppel's asset management fees for the quarter rose by 9% year-on-year to S$96 million, underscoring the success of its ongoing transition towards becoming a major asset manager.

Investors were particularly encouraged by Keppel's progress in asset monetization and fund management. The company reported S$347 million in asset monetization year-to-date, with another S$550 million of potential real estate divestments in advanced stages of negotiations. Additionally, Keppel's funds under management reached S$4.9 billion in the first quarter of 2025, aligning with its ambitious goal of overseeing S$200 billion in assets by 2030.

Keppel jumps 3.44% at 10:14 am, Apr 24th.