Daily Brief ESG: “Parent-Subsidiary Listing” Heaven Continues to Provide Rich Investment Performance for Investors and more

In today’s briefing:

“Parent-Subsidiary Listing” Heaven Continues to Provide Rich Investment Performance for Investors
Keppel Infrastructure Trust – Desalination Plant Disappears into Murky Off Balance Sheet Waters

“Parent-Subsidiary Listing” Heaven Continues to Provide Rich Investment Performance for Investors

With the TSE shortly declaring the conclusion of discussions regarding parent-subsidiary listings, more parent-subsidiary listings (including listed affiliates) are likely to continue to appear going forward.
“TSE’s Request” states a restructuring of business portfolio, but leaves out the issue of restructuring the parent company’s business portfolio and shifting to a management approach that increases corporate value.
The parent-subsidiary listings (including listed affiliates) that continue to be created will continue to provide investment opportunities for investors, including activist investors.

KEPPEL INFRASTRUCTURE TRUST (KIT) is an infrastructure trust listed in Singapore. KIT is managed by Keppel Infrastructure Fund Management Pte Ltd (KIFM) and is sponsored by Keppel, a global asset manager and operator. KIFM is a wholly-owned subsidiary of Keppel.
The Trustee-Manager, KIFM, has dual responsibility of safeguarding the interests of KIT Unitholders, and managing the business conducted by KIT.
The Trustee-Manager has general powers of management over the business and the assets of KIT and its main responsibility is to manage KIT’s assets and liabilities for the benefit of Unitholders as a whole.

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