SINGAPORE, Jan 31, 2026, 15:12 SGT — Market closed
- Keppel slipped 1.35% on Friday, underperforming the softer Singapore market as the week closed.
- Traders are gearing up for Keppel’s full-year results, set to drop before the market opens on Feb 5.
- Data-centre REIT earnings this week highlighted continued strength in power and AI-driven demand as the key themes.
Keppel Ltd shares slipped 1.35% to end Friday’s session at S$10.93, just before the Singapore market paused for the weekend. The stock had earlier climbed to a high of S$11.09.
The pullback has investors focused on next week’s full-year results for clues, following a volatile period for global stocks and a broader rally in Singapore blue chips.
The broader Singapore Exchange benchmark dropped 0.5% on Friday, dragged down by Wall Street’s losses spilling into Asia. Major banks were among the decliners.
Keppel will release its second-half and full-year 2025 results before markets open on Feb. 5, according to a notice posted on the exchange. Keppel Pacific Oak US REIT and Keppel REIT are set to report earlier that same week.
On Friday, investors received an updated snapshot of the group’s data-centre holdings when Keppel DC REIT announced a record full-year distribution per unit (DPU) of 10.381 Singapore cents. Distributable income surged 55.2% to S$268.1 million.
Loh Hwee Long, CEO of Keppel DC REIT Management Pte. Ltd., said the push to boost operational efficiency is focused on freeing up power capacity for clients — a crucial bottleneck for data centers handling AI workloads. “We are able to create additional sellable power capacity,” he noted. The Business Times
Investors will be watching Keppel’s upcoming results closely for evidence that recurring earnings remain steady and its asset-light strategy continues to generate cash, despite a cautious deal market.
Guidance takes center stage. Traders want details on capital recycling, pipeline timing, and management’s outlook on demand in infrastructure, real estate, and connectivity—especially after a month dominated by headline-driven swings.
But the setup isn’t without risk. If operating momentum falters or the outlook turns cautious, a stock priced for steady results could take a hit. On top of that, another spike in global yields would weigh heavily on property-linked and long-duration cashflow stocks.
Markets were closed Saturday, so the next key event is the reopening of Singapore trading on Monday. After that, focus will shift back to Keppel’s results due on Feb. 5.
