September 6, 2023, SINGAPORE - Keppel and DBS Bank have signed a memorandum of understanding (MOU) to jointly scale up sustainable urbanisation and digitalisation solutions in Asia, with a focus on India.
The collaboration aims to accelerate energy optimisation across energy-intensive segments in the region, including healthcare, hospitality and commercial and industrial real estate, said both parties in a joint statement on Monday.
Under the MOU, businesses can access Keppel’s suite of energy-as-a-service solutions, including high-efficiency cooling, sustainable energy and storage, and electric vehicle charging infrastructure, while DBS provides financing solutions to help them overcome potential cost barriers.
The MOU also covers digitalisation solutions for DBS’ corporate customers through Keppel subsidiary M1, under which both parties will work towards improving the digital experiences of businesses in Singapore.
“The partnership also includes an e-waste recycling initiative through AsiaPac, a subsidiary of M1, where DBS customers can trade in laptops,” the statement said.
DBS chief executive Piyush Gupta noted that the partnership with Keppel simplifies its clients’ journey by offering a suite of solutions, including appropriate financing.
Keppel chief executive Loh Chin Hua said the collaboration can help companies become more sustainable and digitalised, increasing their competitiveness.
Keppel noted that the MOU is not expected to have a material impact on its net tangible assets or earnings per share for the current financial year.
