- What is Keppel Infrastructure Trust?
- Which securities exchange is Keppel Infrastructure Trust listed on and what are its tickers?
- How was Keppel Infrastructure Trust created? And what is the structure of Keppel Infrastructure Trust?
- What are the assets under Keppel Infrastructure Trust?
- What are the industries and geographical markets that Keppel Infrastructure Trust operates in?
- What is Keppel Infrastructure Trust’s strategy for enhancing Unitholder value?
- What are the benefits of being a member of Keppel Capital, and Keppel Infrastructureís continued sponsorship?
- What stake do Temasek Holdings and Keppel Corporation hold in Keppel Infrastructure Trust?
- What is the trustee-manager fee structure?
- Is there a fixed distribution policy?
- What is Keppel Infrastructure Trustís market capitalisation?
- How can I obtain a copy of Keppel Infrastructure Trustís annual report?
- Where can I get past financial information of Keppel Infrastructure Trust and CitySpring Infrastructure Trust?
Keppel Infrastructure Trust (KIT) is the largest Singapore infrastructure-focused business trust listed on the Singapore Exchange.
The Trust aims to invest in a large and well-diversified portfolio of core infrastructure assets that provides Unitholders with long-term, regular and sustainable distributions, as well as the potential for long-term capital growth.
Riding on urbanisation trends, such infrastructure business include solutions for energy infrastructure, energy efficiency, waste management, water reclamation and other sustainable developments.
KIT is listed on the Mainboard of the Singapore Exchange under the Electricity/Gas/Water sector.
The tickers for KIT are as follows:
SGX Code: A7RU
3. How was Keppel Infrastructure Trust created? And what is the structure of Keppel Infrastructure Trust?
KIT was formed by the combination of the former KIT and CitySpring Infrastructure Trust (CIT), please refer to Milestones page for more information.
Keppel Infrastructure (KI) is the Sponsor of KIT. Keppel Infrastructure Fund Management (KIFM) has been appointed Trustee-Manager of KIT since 18 May 2015.
Please refer to Trust Structure page for more information.
KIT has total assets in excess of S$4 billion. Its portfolio comprises the following:
- Keppel Merlimau Cogen Plant
- Senoko Waste-to-Energy Plant
- Keppel Seghers Tuas Waste-to-Energy Plant
- Keppel Seghers Ulu Pandan NEWater Plant
- SingSpring Desalination Plant
- City Gas
- DataCentre One
KIT currently has investments in gas retailing, electricity transmission, power generation, waste treatment, water and wastewater treatment, and data centres.
KITís existing portfolio of assets are mostly located in Singapore, save for one investment in Australia.
Please refer to Portfolio page for latest investment portfolio.
KITís Sponsor, KI, will continue to support KITís growth by developing and warehousing suitable assets or through co-investments to build a solid pipeline of assets for injection. Target sectors and markets will be those that Keppel has traditionally had expertise in and where it has existing networks/market presence.
Please refer to Strategy Page for more information.
7. What are the benefits of being a member of Keppel Capital, and Keppel Infrastructureís continued sponsorship?
As a member of Keppel Capital, the Trustee-Manager can leverage and grow further with the increased scale, larger investor base, wider geographical coverage and greater resources. The larger platform will also enhance talent recruitment and retention, facilitate sharing of best practices and improve operating efficiency.
Other benefits include:
- Co-investment, bridge financing and incubation opportunities; and
- Non-energy and non-environmental space asset management
A division of Keppel Corporation, KI drives the Keppel Groupís strategy to invest in, own and operate competitive energy and environmental infrastructure solutions and services
KIT will benefit from KIís continued sponsorship in the following ways:
- Draw on KIís operational and maintenance, as well as industry expertise;
- ROFRs for assets owned and developed by the Sponsor; and
- Co-investment and incubation opportunities.
Please refer to Key Investment Attractions for more information.
Keppel Corporation owns approximately 18.2% of KIT as at 2 March 2017.
Temasek Holdings owns approximately 15.9% of KIT as at 2 March 2017. This does not include Temasek Holdings' deemed interests in Keppel Corporation.
KIFM, as Trustee-Manager of KIT, is paid a base fee indexed to the Consumer Price Index of Singapore, and a performance fee equivalent to 4.5% of all the cash inflow received by KIT on a per-annum basis.
The fees on mergers and acquisitions, and disposals are as set out below:
- 0.5% of the enterprise value (EV) of the investment that KIT acquired from related parties.
- 1.0% of the EV of the investment that KIT acquired from non-related parties.
- 0.5% of the EV of any investment sold by KIT.
The Trustee-Manager may elect to receive the fees in cash or Units or a combination of cash and Units.
KIT does not have a fixed payout policy; the Trustee-Manager seeks to maintain stable distributions for Unitholders.
KIT intends to make quarterly distributions to Unitholders, generally within two months of the end of each financial quarter.
Please refer to Distribution Information for KITís distribution history.
Please refer to Financial Information page for latest share price.
Please refer to Publications page for the online version of KITís annual reports.