Keppel Infra Trust

This report issued by CML critically examines the external management structure prevalent in Singapore’s REIT and Business Trust sector, specifically focusing on Keppel Infrastructure Trust (KIT) and its manager, Keppel Infrastructure Fund Management (KIFM). The analysis highlights the inherent conflicts of interest arising from this model, where the manager’s fees may not align with unitholder

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