Keppel Ltd. (BN4) announced on Jul, 13 2026 that its Connectivity Division has signed an Indefeasible Right of Use agreement with a global hyperscaler for the fifth and final fibre pair on the Bifrost Cable System.
With this transaction, all five fibre pairs in Keppel’s Bifrost portfolio are now committed, giving the project a total estimated contract value of about 1.7 billion Singapore dollars, which includes 25 years of operations and maintenance income.
The fibre capacity has been secured by a range of customers comprising major telecommunications operators, leading hyperscalers and global technology companies. Keppel projects an internal rate of return of roughly 30% on the Bifrost project for itself and its private fund investors.
The company also said it is studying two new subsea cable routes: one linking Singapore to the Middle East with South Asia branches, and another connecting Singapore to Japan through the South China Sea with branches across ASEAN.
Keppel stated that the latest agreement is not expected to have a material impact on its net tangible asset per share or earnings per share for the current financial year.