According to financial results (unaudited) of the Company and of the Group for the quarter ended 31 March 2013 net profit of Keppel Land Limited for the period totaled $96.6 million, the Corp. press release said.
The profit was achieved despite absence of bumper profit from Reflections at Keppel Bay. Higher earnings came from property investment due to increased contribution from Keppel REIT and Marina Bay Financial Centre Phase 2. Fund management earnings grew 25% to $14 million on higher fee income from Keppel REIT Management and Alpha Investment Partners.
Keppel Land is the property arm of the Keppel Group, one of Singapore's largest multinational groups with key businesses in offshore and marine, infrastructure as well as property.
Keppel Land is one of the largest listed property companies by total assets on the Singapore Exchange. The Group's total assets amounted to about $11.5 billion as at 31 December 2012. It is part of the FTSE ST Real Estate Index, FTSE ST China Top Index, FTSE All-World Index, FTSE Asia Pacific ex-Japan Index, FTSE EPRA/NAREIT Global Real Estate Index and EPRA/NAREIT Index.