27 Jan 2021
Trustee-Manager of Keppel Infrastructure Trust appoints Mr Daniel Ee as its Chairman

As part of its Board renewal process, Keppel Infrastructure Fund Management Pte Ltd (KIFM), as Trustee-Manager of Keppel Infrastructure Trust (KIT), is pleased to announce the appointment of Mr Daniel Cuthbert Ee Hock Huat (余福发) as Chairman of the Board. He will succeed Mr Koh Ban Heng (许万兴), age 72, who will be retiring, with effect from 1 February 2021.

Mr Ee has served as an Independent Director on the Board of KIFM since 2015. He currently serves on the boards of Ascendas Funds Management (S) Limited, the manager of Ascendas REIT, Olive Tree Estates Limited and the Singapore Mediation Centre.

He was previously a director of Citibank Singapore Limited, the Deputy Chairman of the Securities Industry Council, and a Fellow and Council Member of Singapore Institute of Directors. Mr Ee was also the Chairman of CitySpring Infrastructure Management Pte Ltd, the trustee manager of CitySpring Infrastructure Trust, from July 2010 to 18 May 2015. He was Chairman of Gas Supply Pte Ltd from 2002 to July 2010 and was on the board of National Environment Agency from 2006 to March 2012. He was a Member of the Corporate Governance Council from February 2010 till its dissolution in May 2012.

Mr Ee said, “Keppel Infrastructure Trust, under the stewardship of Ban Heng, saw significant transformation, growing its portfolio of strategic infrastructure businesses and assets. On behalf of the Board, I would like to express our heartfelt appreciation to Ban Heng for his invaluable counsel and service. I look forward to continue working closely with the Board and management to further the Trust’s growth trajectory.”

As Chairman of the Board of KIFM since 2015, Mr Koh oversaw KIT’s completion of its combination with CitySpring Infrastructure Trust, and raising of $525 million of new equity, in what was Singapore’s largest equity fund raising exercise in 2015, to finance the acquisition of a 51% stake in Keppel Merlimau Cogen Plant. In 2019, he also oversaw KIT’s acquisition of Ixom HoldCo Pty Ltd, one of the leading industrial infrastructure businesses in Australia and New Zealand, supplying and distributing water treatment chemicals, as well as industrial and specialty chemicals.

In December 2020, KIT and its Philippine partner proposed the acquisition of the largest petroleum products import storage facility in the Philippines, Philippine Coastal Storage & Pipeline Corporation, which is expected to be completed by end January 2021.

 

Compositions of the Board and the Board Committees

Following the abovementioned change, the Board of KIFM will comprise five Directors, of whom four are Independent Directors. The compositions of the Board and the Board committees with effect from 1 February 2021 will be as follows:

 

 

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About Keppel Infrastructure Trust (www.kepinfratrust.com)

Keppel Infrastructure Trust (KIT) is a diversified business trust listed on the Singapore Exchange with approximately $5 billion in assets under management. Its goal is to deliver sustainable and growing returns to Unitholders, through a combination of recurring distributions and capital growth.

KIT's portfolio of strategic infrastructure businesses and assets provide essential products and services to a wide array of customers including government agencies, multinational corporations, commercial and industrial enterprises as well as retail consumers. Its assets are segmented into the three core sectors of Distribution & Network, Energy and Waste & Water.

Businesses and assets in the Distribution & Network segment provide essential products and services in the areas of gas production, distribution and storage of essential chemicals, as well as telecoms and electricity transmission. These assets are well-positioned to deliver resilient cash flows with potential for growth that is supported by favourable market dynamics and demand over the long term.

The Energy and Waste & Water segments comprise assets that are integral to the provision of power, waste treatment and water purification. The contract terms for these assets are backed by recurring fixed capacity or availability payments, providing KIT with stable cash flows.

The Trustee-Manager for KIT is Keppel Infrastructure Fund Management, a wholly-owned subsidiary of Keppel Capital Holdings Pte. Ltd., a premier asset manager in Asia. KIT is sponsored by Keppel Infrastructure Holdings Pte. Ltd., which invests in, owns and operates competitive energy and infrastructure solutions and services.