3 January 2025

Corporate Monitor Limited issued a report on the proposed acquisition by Keppel Infrastructure Trust (KIT) of a 50% stake in Marina East Water (MEW), a desalination plant. CML expresses concern over the complex transaction structure, which keeps significant debt off the balance sheets of both KIT and Keppel, and the questionable independence of KIT’s board […]

This report from Corporate Monitor Limited (CML) looks at Keppel Ltd.’s strategic transformation into a global asset manager, focusing on its Vision 2030 goal of reaching S$200 billion in funds under management (FUM). CML reiterates their concern over Keppel’s limited financial disclosures, hindering a comprehensive assessment of its asset management profitability and the achievability of

This report from Corporate Monitor Limited analyses Keppel Corporation’s 2019 privatization of M1, a telecommunications company. The analysis questions Keppel’s claims of success, citing M1’s declining profitability and unmet return on equity targets despite Keppel’s significant investment. The report raises issues about Keppel’s financial reporting regarding M1’s performance and valuation. The report uses M1 as

This report by Corporate Monitor Limited assesses the transparency of Keppel Ltd.’s financial disclosures as it transitions into a global asset manager. The report compares Keppel’s disclosures to those of leading global asset managers like TPG and Blackstone, revealing deficiencies in Keppel’s reporting of key performance indicators such as fund performance, fund size, fees, and

Corporate Monitor Limited (CML) issued a critical report analyzing Singapore Post Ltd (SingPost), revealing significant challenges across its businesses. SingPost’s decade of underperformance, marked by unprofitable acquisitions and a weakened balance sheet, is highlighted, along with concerns about its strategic direction, high debt, and governance issues. CML questions the synergy between SingPost’s diverse business units

This report by Corporate Monitor Limited analyses ComfortDelgro (CDG)’s performance over the past decade, highlighting underperformance and declining profitability. It scrutinizes CDG’s acquisition strategy, questioning the return on significant investments in overseas expansion. Furthermore, the report assesses CDG’s corporate governance, including executive compensation and the company’s complex structure. Ultimately, the report concludes that CDG needs to improve its