Keppel to rejig corporate structure, sets $150 billion assets target by 2030

(Reuters) -Singapore's Keppel Corp said on Wednesday it will reorganise its corporate structure and do away with its conglomerate setup in favour of a horizontally integrated model comprising three units, to simplify operations.

Under the new structure, the three units would be fund management, investment, and operating platforms.

"This latest restructuring reflects a fundamental shift in how we organise ourselves to operate in a nimbler manner and harness technology to grow at speed and scale," Keppel Chief Executive Officer Loh Chin Hua said.

Keppel also announced plans to significantly increase its assets under management (AUM) to S$200 billion ($149.93 billion) by 2030, with an interim target of achieving S$100 billion worth of AUM by 2026-end, double of what it had at the end of last year.

($1 = 1.3340 Singapore dollars)

(Reporting by Sameer Manekar in Bengaluru; editing by Uttaresh Venkateshwaran)