(July 29): In April, when Keppel Corp announced its 1QFY2019 results, its group CEO Loh Chin Hua revealed some statistics on its wholly-owned property subsidiary, Keppel Land. “At the end of 2018, we calculated the [revalued net asset value] of Keppel Land to be about $10.3 billion, or $5.68 for each share of Keppel Corp. This does not include the Keppel Group’s 45% stake in Sino-Singapore Tianjin Eco-City Investment and Development Co, which has an RNAV of about $1.2 billion, or $0.66 for each share of Keppel Corp,” Loh said. That works out to $6.34, just 20 cents below Keppel Corp’s last trading price of $6.54.

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