Singapore Offshore & Marine-Turned Asset Manager $12 Billion Keppel Sells All 89.3% Shareholding in Singapore Telco Business M1 to Simba Telecom at $1.1 Billion (S$1.43 Billion) Valuation, Simba Telecom is Owned by Australia Billionaire David Teoh Siang Hai with $2 Billion Fortune via Tuas Limited
11th August | Hong Kong
Singapore offshore & marine-turned asset manager Keppel Ltd ($12 billion market value) has announced to sell all 89.3% shareholding in Singapore telco business M1 to Simba Telecom at $1.1 billion (S$1.43 billion) valuation. Simba Telecom is owned by Australia billionaire David Teoh Siang Hai with $2 billion fortune via Tuas Limited. M1 – M1, a subsidiary of Keppel Ltd., is Singapore’s first digital network operator, providing a suite of communications services, including mobile, fixed line and fibre offerings, to over two million customers. Since the launch of its commercial services in 1997, M1 has achieved many firsts – becoming one of the first operators to be awarded one of Singapore’s two nationwide 5G standalone network license, first operator to offer nationwide 4G service, as well as ultra high-speed fixed broadband, fixed voice and other services on the Next Generation Nationwide Broadband Network (NGNBN). M1’s mission is to drive transformation and evolution in Singapore’s telecommunications landscape through cutting-edge technology and made-to-measure offerings. In 2025 August, Keppel Ltd raised $4.9 billion (S$6.3 billion) in 2025 for private fund strategies (Data centres, education assets & sustainable urban renewal) including $700 million for Keppel Education Asset Fund II (KEAF II) & Keppel Data Centre Fund III (KDCF III). Announcement (7/8/25): “Global asset manager and operator Keppel Ltd. (Keppel) has raised S$6.3 billion in total Funds under Management (FUM) year-to-date for its private fund strategies such as those for data centres, education assets and sustainable urban renewal. This includes the latest capital commitments of approximately US$700 million (S$907 million) secured from global institutional investors for its Keppel Education Asset Fund II (KEAF II) and Keppel Data Centre Fund III (KDCF III). These commitments represent approximately S$2.3 billion in new FUM.” In 2023 May, Keppel Corporation announced to transform its business from offshore & marine to an asset management group, targeting to manage $150 billion assets (S$200 billion) by 2030 and to focus on green energy. Earlier in 2023, Keppel Corporation had sold its main offshore and marine business to (Singapore) Semcorp Marine for S$4.5 billion. The new business group will comprise of fund management, investment, and operating platforms (data centres, renewable energy assets etc). Singapore Temasek is Keppel Corporation largest shareholder with 21% shareholding. In 2025 May, Keppel Ltd announced the appointment of ex-DBS CEO Piyush Gupta (Age 65) as Keppel Deputy Chairman & Non-Executive Independent Director (1/7/25). Piyush Gupta was Singapore largest bank DBS Group CEO for 15 years (2009 to 2025), and was Citi CEO South East Asia, Australia & New Zealand.
“ Singapore Offshore & Marine-Turned Asset Manager $12 Billion Keppel Sells All 89.3% Shareholding in Singapore Telco Business M1 to Simba Telecom at $1.1 Billion (S$1.43 Billion) Valuation, Simba Telecom is Owned by Australia Billionaire David Teoh Siang Hai with $2 Billion Fortune via Tuas Limited “
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Singapore Offshore & Marine-Turned Asset Manager $12 Billion Keppel Raised $4.9 Billion (S$6.3 Billion) in 2025 for Private Fund Strategies (Data Centres, Education Assets & Sustainable Urban Renewal) Including $700 Million for Keppel Education Asset Fund II (KEAF II) & Keppel Data Centre Fund III (KDCF III), Transformed Business in 2023 from Offshore & Marine to Asset Management Group & to Manage $150 Billion Assets by 2030, Appointed ex-DBS CEO Piyush Gupta (Age 65) as Deputy Chairman in 2025 July
10th August – Singapore offshore & marine-turned asset manager Keppel Ltd ($12 billion market value) has raised $4.9 billion (S$6.3 billion) in 2025 for private fund strategies (Data centres, education assets & sustainable urban renewal) including $700 million for Keppel Education Asset Fund II (KEAF II) & Keppel Data Centre Fund III (KDCF III). Announcement (7/8/25): “Global asset manager and operator Keppel Ltd. (Keppel) has raised S$6.3 billion in total Funds under Management (FUM) year-to-date for its private fund strategies such as those for data centres, education assets and sustainable urban renewal. This includes the latest capital commitments of approximately US$700 million (S$907 million) secured from global institutional investors for its Keppel Education Asset Fund II (KEAF II) and Keppel Data Centre Fund III (KDCF III). These commitments represent approximately S$2.3 billion in new FUM.” In 2023 May, Keppel Corporation announced to transform its business from offshore & marine to an asset management group, targeting to manage $150 billion assets (S$200 billion) by 2030 and to focus on green energy. Earlier in 2023, Keppel Corporation had sold its main offshore and marine business to (Singapore) Semcorp Marine for S$4.5 billion. The new business group will comprise of fund management, investment, and operating platforms (data centres, renewable energy assets etc). Singapore Temasek is Keppel Corporation largest shareholder with 21% shareholding. In 2025 May, Keppel Ltd announced the appointment of ex-DBS CEO Piyush Gupta (Age 65) as Keppel Deputy Chairman & Non-Executive Independent Director (1/7/25). Piyush Gupta was Singapore largest bank DBS Group CEO for 15 years (2009 to 2025), and was Citi CEO South East Asia, Australia & New Zealand.
Keppel – Keppel Ltd. (SGX:BN4) is a global asset manager and operator with strong expertise in sustainability-related solutions spanning the areas of infrastructure, real estate and connectivity. Headquartered in Singapore, Keppel operates in more than 20 countries worldwide, providing critical infrastructure and services for renewables, clean energy, decarbonisation, sustainable urban renewal and digital connectivity. Keppel creates value for investors and stakeholders through its quality investment platforms and diverse asset portfolios, including private funds and listed real estate and business trusts.
Singapore $8.8 Billion Keppel Corporation to Transform Business from Offshore & Marine to Asset Management Group, Target to Manage $150 Billion Assets by 2030 & Focusing on Green Energy
6th May 2023 – Singapore-based Keppel Corporation (5/5/23: $8.8 billion / S$11.7 billion market capitalization) has announced to transform its business from offshore & marine to an asset management group, targeting to manage $150 billion assets (S$200 billion) by 2030 and to focus on green energy. Earlier in 2023, Keppel Corporation had sold its main offshore and marine business to (Singapore) Semcorp Marine for S$4.5 billion. The new business group will comprise of fund management, investment, and operating platforms (data centres, renewable energy assets etc). Singapore Temasek is Keppel Corporation largest shareholder with 21% shareholding.
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