Keppel Technology and Innovation Pte. Ltd. and DBS Bank have signed a memorandum of understanding to enhance collaboration in three key areas.
The three initiatives are expected to be rolled out progressively later this year. The developments are not expected to have a material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.
Keppel and DBS will work together on the following:
1) Explore collaboration to unlock new business opportunities for retail customers
Keppel and DBS will be exploring synergies between the Keppel Group’s consumer businesses, such as M1, Keppel Electric and City Gas, and DBS’ consumer marketplace platforms. Keppel and DBS will jointly create bundled services across mobile, fibre and electricity packages leveraging data analytics and insights from DBS and Keppel businesses to acquire new customers and enhance value propositions to existing customers of DBS and Keppel.
The MOU will look into the feasibility of a Supply Chain Finance Program developed by DBS to provide digital supply chain financing to Keppel Group’s large supplier ecosystem
Francois van Raemdonck, Director of Group Strategy and Development of Keppel Corporation and Managing Director of KTI said, “As part of Keppel’s Vision 2030, we are undergoing a bold transformation to provide end-to-end solutions for sustainable urbanisation. In addition, we see strong benefit to fully exploit our existing B2C positions in collaboration with partners. We provide products and services that touch many aspects of life in Singapore, providing fertile ground for us to explore how we can leverage technology and collaborate both within the Group and with other partners to better serve our customers and suppliers. We are pleased to work with a like-minded partner like DBS, Singapore’s largest bank, to jointly explore new opportunities and uncover new profit pools for both companies.”
Ms Tan Su Shan, Group Head of Institutional Banking, DBS Bank, said “The value of knowledge grows when it is shared. Our collaboration with Keppel’s ecosystem of businesses exemplifies this by demonstrating how the cross-pollination of expertise and networks from different industries can help Singapore seize new opportunities here and in the global marketplace. This is made all the more meaningful as both companies embrace our collective purpose and responsibility to create a sustainable future for all by adopting the latest technological enhancements to improve our customers’ lives.”
