Keppel Infrastructure Trust (KIT)’s Post

Analysts see Ranhill Group as a 'strategic fit' for YTL Power International KUALA LUMPUR (May 28): The proposed acquisition of a 31.4% stake in Ranhill Utilities Bhd (KL:RANHILL) appeared to be a positive move for YTL Power International Bhd’s (KL:YTLPOWR), according to analysts. Ranhill, which operates in water and power businesses, is seen to be strategically aligned with YTL Power considering the latter shares similar business operations, albeit at a much larger scale, according to MIDF Research. The research house considered the acquisition "a reasonably good deal for YTL Power". “We believe the entry of a strong shareholder will pave the way for improved efficiency for Johor water,” said MIDF Research. YTL Power can capitalise on prospects from the Johor-Singapore Special Economic Zone and potential demand from data centre hubs in the state, it noted. MIDF maintained a “Buy” call on YTL Power with an unchanged target price of RM6.35. However, MIDF said its “Neutral” call on Ranhill with a RM1.07 target price is under review with a downward bias, considering the inflated valuation the stock is currently trading at. Hong Leong Group Investment Bank (HLIB) sees the acquisition as a strategic move, allowing YTL Power to expand into Johor’s water utility business by strategically consolidating Ranhill’s operations, which complement its existing business portfolio and derive potential synergies. "We expect potential synergistic benefits to integrate Ranhill into YTL Power's diversified portfolio of businesses while also leveraging YTL Power's UK Wessex Water expertise," HLIB said. HLIB maintained a “Buy” rating and target price of RM7.45 for YTL Power. Full Article: https://lnkd.in/gJuTyHxe

LTL Holdings announces largest IPO on CSE Sri Lanka’s leading fully integrated power sector conglomerate, LTL Holdings Ltd announced the largest IPO to date on Colombo Stock Exchange (CSE), with plans to raise up to Rs.20 billion by offering 22.3 percent stake in the company. The IPO is an offer for subscription of up to 1.38 billion new ordinary voting shares at an issue price of Rs.14.50 per share via an initial issue of Rs.16 billion, with a greenshoe option to increase the total to Rs.20 billion through the IPO. The LTL has already secured commitments from a few strategic investors covering 50 percent of the total issue. The IPO is scheduled to be opened on 10 September 2024 and application for the subscription of shares is now accepted. According to NDB Investment Bank Limited Vice President Savinda Fernando, the IPO is attractively priced at Rs.14.50 per share, which is a 33 percent upside to LTL’s valuation of Rs. 93 billion (Rs. 19.37 per share).  LTL operates across multiple sectors, including power generation, engineering services for power plants as an EPC (Engineering, Procurement and Construction) and O&M (Operations and Maintenance) contractor, manufacturing of power distribution equipment, and heavy engineering. With a strong focus on cleaner energy investments, the IPO represents an important milestone in the company’s growth strategy. LTL is set to embark on new ventures in clean energy while reinforcing its position as a leading player in Sri Lanka’s energy sector. With 894 MW of existing power generation capacity in Sri Lanka, Bangladesh and Nepal and over 450 MW as secured pipeline projects, LTL is on track to become the first Independent Power Producer (IPP) in Sri Lanka to have an installed capacity of over 1,000 MW, positioning the company as the largest listed IPP on the CSE. In Sri Lanka, LTL’s power plants accounted for 14 percent of installed capacity and 7.5 percent of all consumed electricity last year, according to LTL Holdings Deputy Chief Executive Officer and Executive Director Ravindra Kumar Pitigalage. #LTL #CSE #SriLanka #Power #energy #IPO https://lnkd.in/g6tcXegj

Founder Group's $11M IPO: Shining Bright in the Solar Industry ☀️ Hey everyone, 💼 I just came across some exciting news about Founder Group, a company from Malaysia that specializes in engineering and construction for solar projects. They’ve just filed with the SEC to raise up to $11 million through an IPO. They’re offering 2.5 million shares priced between $4 and $5 each. If they hit the midpoint, their market cap will be around $82 million. 🌍 Founded in 2021 and based in Klang, Malaysia, Founder Group provides end-to-end services for solar projects, handling everything from engineering and procurement to construction and commissioning. They also offer operation and maintenance services for their projects. 🚀 Founder Group plans to list on Nasdaq under the symbol FGL, with Tiger Brokers as the sole bookrunner for the deal. I’m keeping an eye on this one—it’s a bright spot in the solar industry! #IPO #SolarEnergy #Microcap #Nasdaq #Investment #StockMarket #Malaysia #Engineering #Construction #TigerBrokers #CleanEnergy #SolarProjects #Tech Learn more: https://lnkd.in/dzubQTp4

There have been several "quiet" acquisitions in the NESI. The Eko deal is landmark as it perhaps the first willing sale of 60% stakes in a DisCo by a Core Investor. The Transgrid Enerco Consortium members represent two ends of the energy conversation today...fossil fuels and clean energy! NSP (North South Power) is a hydro-power company operating two hydro-power plants with total portfolio capacity of 630MW; Axxella is a leading gas distribution company, delivering natural gas to many C&I clients of DisCos. NSP's strategic goal is obviously to sell electrons produced from its hydro-power plants. As a gas distributor with an extensive gas distribution network within the Eko DisCo franchise area, what is Axxella's strategic objective(s) in this deal? Improving power supply and the distribution infrastructure could have a negative effect on Axxella's gas business. Would Axxella allow C&I customers on its gas network to exit? I haven't seen the transaction prospectus, but perhaps the plan includes building new gas power plant(s) connected to Axxella's gas distribution infrastructure. Lastly, the deal demonstrates that the NESI is still viable, despite the challenges in the sector. It also shows that the FG and NERC have clearly failed to unlock the huge potentials of the sector. Rather than unlock the potentials, the FG keeps borrowing sovereign to fund DisCo assets and operations under the guise of "subsidy". It is hard to explain how the Eko DisCo 60% share acquisition attracted $200m in a competitive bid higher than the 2013 sale price for same stakes,, while the FG just borrowed $158m from the World Bank under DISREP and will sequester N700billion of FAAC allocations to States and LGAs under the PMI to fund prepaid meters for 11 DisCos (including Eko DisCo). Tells you the FG, NERC and BPE, have not really sweated DisCos to inject much needed equity into their businesses. Congratulations to Transgrid Enerco and WPG for this landmark transaction! (Pardon the typos pls)

🚨 Industry Update 🚨 Healthy amount of activity across the energy and infrastructure sectors. Here are some key highlights: 1️⃣ Hotel Property Investments rejects a massive A$718M bid from Hostplus and Charter Hall 🏢. 2️⃣ VINCI Highways partners with Global Infrastructure Partners (GIP) to acquire an Indian motorway concession 🛣️🌏. 3️⃣ Harrison Street & Brightview are expanding their US partnership with new acquisitions in senior housing 🏡🇺🇸. 4️⃣ Brookfield Asset Management adds 1.6M sqft of assets to its French logistics portfolio 🚚📦🇫🇷. 5️⃣ KGAL GmbH & Co. KG (KGAL)’s fifth European renewables fund expands with solar parks in Germany ☀️🔋🇩🇪. 6️⃣ A LGPS fund has bought a stake in a nature asset manager 🌱💼. #RenewableEnergy #Infrastructure #InvestmentNews #EnergyStorage #SolarPower #Logistics #SustainableFuture 🌍⚡

Keltbray announces sale of Infrastructure Services business Keltbray’s Infrastructure Services Limited (KISL), a company specialising in energy and transport networks and engineering services, has been acquired by EMK Capital, a global private equity firm, for an undisclosed sum. Keltbray Group expanded into infrastructure services in 2009 by acquiring Gamble Rail, followed by Aspire Rail in 2010, and then establishing KISL in 2018 as their energy networks business. In 2021 and 2022, KISL made further acquisitions in the high voltage and renewable energy markets. KISL provides energy networks and transport services across the UK. EMK Capital will provide financial support and strategic guidance to aid KISL’s management team in accelerating the company’s growth plans. The company says its long-term trends include increased investment in the UK’s critical infrastructure assets and the move toward a low-carbon, digital-enabled, and energy-secure future. Darren James, Chief Executive Officer of KISL, said, “KISL is well-placed to realise our potential in the energy transition and decarbonised transport market with our strong market position and sustainable business approach. EMK Capital’s deep understanding of the infrastructure and engineering services sector, coupled with its expertise in delivering transformational growth, will enable us to take meaningful steps towards geographic and service offering expansion, while maintaining our high-quality customer relationships and safety-driven employee culture.” For more information on the Construction, Mining Equipment and Allied Industries, please reach us at www.equipmenttimes.in Ramamurthy Mayavan Philip Varghese Editor In Chief- EQUIPMENT TIMES #transport #energytransition #sustainable #constructionmachinery #infrastructure #contractor #constructionequipment #construction #manufacturing #machine #equipment

🌱 EnergGrid to Begin Bidding for Greenfield Projects by FY25 End! 🚀 #EnergGrid #GreenfieldProjects #RenewableEnergy #Sustainability #EnergyInnovation #CleanEnergy #FutureOfEnergy #FY25Updates

UK #manufacturing needs to invest in capital in order to capture the opportunity from the growing #offshorewind sector. The OWGP are now supporting the sector with funding to support the activities that will unlock capital investment. We at the National Manufacturing Institute Scotland are totally up for more investment in manufacturing!

Wasco Bhd Managing Director/Group CEO Giancarlo Maccagno: “Today is our time, clearly because we are experiencing demand for our services and products that I’ve never seen before in my entire life,” “Before the [Russia-Ukraine] war, nobody wanted to touch some of those fields in the UK’s North Sea. It is all coming back [now]… if you look at the jobs pipeline in the North Sea, it is just unbelievable,” “We’ve been a bit distracted by diversification [in the past], I personally believe that, provided that the industry we operate in has opportunities, there is no reason to diversify,” “If you are a global player in the different sectors of the energy market — renewables, gas, oil — the demand for these won’t die. I think where we operate, there are ample opportunities in the next 10 to 15 years. We should concentrate on our strengths, technology and know-how to grab those opportunities,” “It is my goal [to declare a dividend]. We are studying our cash flow for the next five years in order to come out with at least a dividend policy and direction that is achievable. But we will announce a dividend payment subject to board approval starting as early as this year,” “What I can promise to the market is that when they come and buy our product, there is net zero impact to the environment. I can go to the oil companies and tell them, ‘you must buy from me’… it’s good for business as well,” Click to read more! https://lnkd.in/gxFWTFsc Thanks for featuring #wasco The Edge Malaysia!

Congratulations to Leah McGimpsey and the team at APEM Group, who have just completed the acquisition of Attexo.   Attexo is one of Australia’s leading providers of advisory and environmental consultancy services to the renewable energy sector, and works on some of the nation’s highest profile renewable energy projects including wind farms, grid scale batteries, pumped hydro schemes, solar farms and hydrogen projects. The transaction further reinforces APEM’s presence in Australia and comes just three months after it expanded its presence and capabilities in the country with the acquisition of ecology and heritage consultancy, Biosis.    Bringing Attexo into the Group means that APEM now has 215 experts based in 11 offices across Queensland, Victoria and New South Wales, and opens up significant opportunities in the high growth Asia-Pacific region.   This is the third acquisition completed in the last 12 months and the eighth since WestBridge invested in APEM.   Peter Barkley, partner at WestBridge, said:   “With eight strategic acquisitions under its belt, it’s no surprise that APEM has grown so phenomenally and is on track to become the world’s leading environmental consultancy. The team’s immediate focus is to ensure that all three acquisitions completed this year are fully and sympathetically integrated into the business so that all clients continue to receive a best-in-class service that has breadth and depth of expertise. "The Australian government’s commitment to developing renewable energy, coupled with the team’s dedication to helping the world move towards Net Zero, sets the stage for an ambitious and exciting future organic trajectory for APEM Group across all geographies. There remains tremendous potential for future acquisitions once these latest ones have been brought fully into the APEM fold.”   Guy Davies, managing partner, added:   “The acquisition truly caps a phenomenal year for the business. Looking forward to 2025, the greater than expected AMP cycle determination, the position the business has built in Australia, the cross-selling opportunities from the 2024 acquisitions, as well as the tail winds that continue to drive the core business mean that APEM has tremendous potential for organic growth over the next few years.”   #privateequity #privateequityfirm #privateequityinvestment