Keppel Corporation’s infrastructure division has been recently awarded a lucrative contract by the Housing & Development Board (HDB) to supply chilled water for a period of 20 years. This contract will see Keppel responsible for the entire process – from initial design to construction, ownership and operation of centralised cooling systems (CCS) at three upcoming build-to-order (BTO) projects in Tengah. This agreement will cater to approximately 3,500 households across the projects, namely Brickland Weave, Plantation Edge I & II and Plantation Verge.
Keppel announced this exciting development in a recent press release on September 30. According to the company, they will be working closely with HDB to ensure efficient and effective delivery of CCS to each home. The system works by transferring chilled water through pipelines from centralised chillers installed on the rooftops of selected HDB blocks to cool the flats. Keppel plans to incorporate innovative engineering and design elements, along with using industrial-grade materials, to meet industry standards for performance.
Upon completion, these three BTO projects’ CCS will be connected to Keppel’s Operations Nerve Centre (ONC) for remote control and real-time monitoring of its performance.
Commenting on this collaboration, CEO of HDB, Tan Meng Dui states, “We are delighted to welcome a reputable player like Keppel to provide CCS services for future BTO projects. With more players entering the market to offer CCS services for public housing, we hope to enhance the industry’s capabilities and foster a robust CCS ecosystem, making HDB living more sustainable and comfortable.”
Keppel’s infrastructure division CEO Cindy Lim adds, “We are thrilled to secure this contract to provide cooling services for these three latest precincts in Tengah. With over 20 years’ experience serving the cooling needs of various sectors such as business parks, commercial offices, hotels, malls, and mission-critical facilities like wafer fabs and data centers, Keppel is well-positioned to collaborate with HDB and deliver high-quality and modern cooling solutions to homeowners.”
Opting to invest in a Singapore Condo can offer a multitude of benefits, such as the ability to leverage the property’s value for future investments. Many investors take advantage of using their condos as collateral to secure additional funding for new ventures, ultimately diversifying their real estate assets. While this strategy can potentially lead to increased profits, it is crucial to have a well-crafted financial plan in place and thoroughly consider the potential impacts of market fluctuations. When done correctly, a Singapore Condo can serve as a valuable asset in expanding one’s real estate portfolio.
Including assets that are currently under development, Keppel holds a massive cooling portfolio of over 260,000 refrigeration tonnes in the region.
This contract is not expected to significantly impact Keppel’s earnings per share (EPS) and net tangible asset (NTA) per share for the current financial year.
As of 9:29 am, Keppel’s shares are trading at $6.63, up 0.15% or 1 cent.