Latest news with #KeppelDCReit
Straits Times
17 hours ago
- Business
- Straits Times
Keppel DC Reit to join STI from June 23; units rise 0.9%
Loh Hwee Long, CEO of Keppel DC Reit Management, says the Reit saw overall valuation gains in 2024, especially from its Singapore colocation assets. PHOTO: THE BUSINESS TIMES SINGAPORE - Following the Straits Times Index's (STI) June quarterly review, Keppel DC Reit will be entering the index, replacing Jardine Cycle & Carriage, effective from June 23. This increases the total number of S-Reits in the index to eight. The eight S-Reits in the STI will be: CapitaLand Ascendas Reit, CapitaLand Integrated Commercial Trust, Frasers Centrepoint Trust, Frasers Logistics & Commercial Trust, Mapletree Industrial Trust, Mapletree Logistics Trust and Mapletree Pan Asia Commercial Trust. Keppel DC Reit units rose 0.9 per cent, or two cents, to $2.26 as at 9.08am on June 9, after the announcement. With a market cap of $4.9 billion, it re-enters the STI after exiting in June 2023, and is expected to increase S-Reits' combined weight in the index to over 10 per cent. The Reit, Asia's first pure-play data centre Reit, listed in 2014 with eight data centres and $1 billion in assets under management (AUM). Today, it owns 24 data centres across 10 countries, with an AUM of $4.9 billion. Of this, 81.6 per cent is in Asia-Pacific (66.3 per cent in Singapore) and 18.4 per cent in Europe. Keppel DC Reit's Q1 2025 results showed a 59.4 per cent year-on-year increase in distributable income, with gross revenue and net property income (NPI) growing by 22.6 per cent and 24.1 per cent, respectively. Its distribution per unit rose by 14.2 per cent to 2.503 for the quarter. This was driven by acquisitions of Keppel DC Singapore 7 & 8, Tokyo Data Centre 1, and higher contributions from contract renewals and escalations in 2024. Portfolio rental reversion was 7 per cent, with no major renewals in the first quarter of 2025, and portfolio occupancy remained at 96.5 per cent as at March 31. Loh Hwee Long, chief executive officer of Keppel DC Reit Management, noted at Reit's annual general meeting that it saw overall valuation gains in 2024, especially from its Singapore colocation assets. Most European assets also recorded local currency gains despite some softness in smaller data centres, reinforcing the strength of its diversified, value-focused portfolio. The Reit has been actively acquiring assets. In 2024, it entered Japan as a new market with the acquisition of Tokyo Data Centre 1, and also completed the acquisition of two AI-ready hyperscale data centres in Singapore from its sponsor, Keppel, which marked its largest deal exceeding $1 billion since listing. According to its annual report, the Reit's sponsor, Keppel, plans to expand its data centre portfolio to a total of 1.2 gigawatt in the near term, which could provide a pipeline of assets for Keppel DC Reit to potentially acquire. For its financial year 2024, the Reit recorded 15.5 per cent year-on-year decrease in total greenhouse gas emissions and has achieved the GRESB Green Star for a third consecutive year, with six of its assets in Singapore and Dublin maintaining green certifications. In trading this year, Keppel DC Reit has ranked among the top 20 stocks by trading turnover and among the top five most actively traded S-Reits. The STI reserve list, which consists of the five highest ranking non-constituents of the STI, will be (in alphabetical order): CapitaLand Ascott Trust, ComfortDelGro, Keppel Reit, NetLink NBN Trust and Suntec Reit. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
2 days ago
- Business
- Business Times
Keppel DC Reit set to join STI from Jun 23
[SINGAPORE] Following the Straits Times Index's (STI) June quarterly review, Keppel DC Reit will be entering the index, replacing Jardine Cycle & Carriage , effective from Jun 23. This increases the total number of S-Reits in the index to eight. The eight S-Reits in the STI will be: CapitaLand Ascendas Reit , CapitaLand Integrated Commercial Trust , Frasers Centrepoint Trust , Frasers Logistics & Commercial Trust , Mapletree Industrial Trust , Mapletree Logistics Trust , and Mapletree Pan Asia Commercial Trust . Keppel DC Reit, with a market cap of S$4.9 billion, re-enters the STI after exiting in June 2023, and is expected to increase S-Reits' combined weight in the index to over 10 per cent. The Reit, Asia's first pure-play data centre Reit, listed in 2014 with eight data centres and S$1 billion in assets under management (AUM). Today, it owns 24 data centres across 10 countries, with an AUM of S$4.9 billion. Of this, 81.6 per cent is in Asia-Pacific (66.3 per cent in Singapore) and 18.4 per cent in Europe. Keppel DC Reit's Q1 2025 results showed a 59.4 per cent year-on-year increase in distributable income, with gross revenue and net property income (NPI) growing by 22.6 per cent and 24.1 per cent, respectively. Its distribution per unit rose by 14.2 per cent to 2.503 Singapore cents for the quarter. This was driven by acquisitions of Keppel DC Singapore 7 & 8, Tokyo Data Centre 1, and higher contributions from contract renewals and escalations in 2024. Portfolio rental reversion was 7 per cent, with no major renewals in 1Q 2025, and portfolio occupancy remained at 96.5 per cent as at Mar 31, 2025. Loh Hwee Long, chief executive officer of Keppel DC Reit Management, noted at the annual general meeting that the Reit saw overall valuation gains in 2024, especially from its Singapore colocation assets. Most European assets also recorded local currency gains despite some softness in smaller data centres, reinforcing the strength of its diversified, value-focused portfolio. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up The Reit has been actively acquiring assets. In 2024, it entered Japan as a new market with the acquisition of Tokyo Data Centre 1, and also completed the acquisition of two AI-ready hyperscale data centres in Singapore from its sponsor, Keppel, which marked its largest deal exceeding S$1 billion since listing. According to its annual report, the Reit's sponsor, Keppel, plans to expand its data centre portfolio to a total of 1.2 gigawatt in the near term, which could provide a pipeline of assets for Keppel DC Reit to potentially acquire. For its financial year 2024, the Reit recorded 15.5 per cent year-on-year decrease in total greenhouse gas emissions and has achieved the GRESB Green Star for a third consecutive year, with six of its assets in Singapore and Dublin maintaining green certifications. In trading this year, Keppel DC Reit has ranked among the top 20 stocks by trading turnover and among the top five most actively traded S-Reits. The STI reserve list, which consists of the five highest ranking non-constituents of the STI, will be (in alphabetical order): CapitaLand Ascott Trust , ComfortDelGro , Keppel Reit , NetLink NBN Trust , and Suntec Reit . The writer is a research analyst at SGX. For more research and information on Singapore's Reit sector, visit for the S-Reits & Property Trusts Chartbook.
Straits Times
4 days ago
- Business
- Straits Times
Keppel DC Reit to replace Jardine C&C on STI
The STI reserve list is made up of the five highest ranking non-constituents of the index by market capitalisation. ST PHOTO: BRIAN TEO SINGAPORE - Keppel DC Real Estate Investment Trust (Reit) will replace Hong Kong-based conglomerate Jardine Cycle & Carriage (C&C) on the benchmark Straits Times Index (STI), following a quarterly review. Internet service provider NetLink NBN Trust will replace Keppel DC Reit on the STI's reserve list, said the index's administrator, FTSE Russell, in a bourse filing on June 5. The STI, Singapore's main stock market benchmark, is jointly calculated by FTSE Russell, SPH Media and the Singapore Exchange (SGX). The STI reserve list is made up of the five highest ranking non-constituents of the index by market capitalisation. Stocks on the reserve list will replace any STI constituents that become ineligible as a result of corporate action before the next review, which will take place in September. The other four companies on the reserve list are CapitaLand Ascott Trust, ComfortDelGro, Keppel Reit and Suntec Reit. The changes take effect at the start of business on Jun 23. Units of Keppel DC Reit closed $0.02 or 0.9 per cent higher at $2.19, while shares of Jardine C&C closed $0.08 or 0.3 per cent lower on Jun 5 at $23.85 before the announcement. Shares of NetLink NBN Trust ended $0.005 or 0.6 per cent lower at $0.865. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
4 days ago
- Business
- Business Times
Keppel DC Reit to replace Jardine C&C on STI
[SINGAPORE] Keppel DC Real Estate Investment Trust (Reit) will replace Hong Kong-based conglomerate Jardine Cycle & Carriage (C&C) on the benchmark Straits Times Index (STI), following a quarterly review. Therefore, Internet service provider NetLink NBN Trust will replace Keppel DC Reit on the STI's reserve list, said the index's administrator, FTSE Russell, in a bourse filing on Thursday (Jun 5). The STI, Singapore's main stock market benchmark, is jointly calculated by FTSE Russell; SPH Media, which publishes The Business Times; and the Singapore Exchange (SGX). The STI reserve list is made up of the five highest ranking non-constituents of the index by market capitalisation. Stocks on the reserve list will replace any STI constituents that become ineligible as a result of corporate action before the next review, which will take place in September. The other four companies on the reserve list are CapitaLand Ascott Trust, ComfortDelGro, Keppel Reit and Suntec Reit. The changes take effect at the start of business on Jun 23. Units of Keppel DC Reit closed S$0.02 or 0.9 per cent higher at S$2.19, while shares of Jardine C&C closed S$0.08 or 0.3 per cent lower on Thursday at S$23.85 before the announcement. Shares of NetLink NBN Trust ended S$0.005 or 0.6 per cent lower at S$0.865.
Business Post
02-05-2025
- Business
- Business Post
Greencoat Renewables signs deal with Singapore-based Keppel to power two Dublin data centres
Energy Greencoat Renewables signs deal with Singapore-based Keppel to power two Dublin data centres Keppel DC Reit will purchase 100 per cent of the electricity generated from Greencoat's Kerry wind farm Alice O'Leary 15:11 The PPAs are part of Keppel's aim to decarbonise two data centres in Dublin by 2030. Picture: Eamonn Farrell
