Keppel Land Limited

Keppel divests 70% interest in Dong Nai Waterfront City for $136 mil

SINGAPORE (Jan 28): Keppel Corporation announced that a wholly-owned subsidiary Keppel Land Limited (KLL), Portsville, is divesting a 70% interest in Dong Nai Waterfront City (DNWC) to Nam Long Investment Corporation for a consideration of VND 2,313 billion ($136 million).

DNWC is a company incorporated under the laws of Vietnam and had been granted the right to develop a township in Dong Nai Province.

Keppel hit by lawsuit to restrain sale of stake in Zhongshan Keppel Cove development

SINGAPORE (Nov 21): Keppel Corporation announced that Keppel Land China (KLC), a wholly-owned subsidiary of Keppel Land, and Keppel China Marina Holdings (KCMH) were on Monday served as co-defendants in a writ of summons filed by Sunsea Yacht Club (Hong Kong) (SYCHK) in the High Court of Singapore.

The lawsuit refers to KLC’s divestment of 100% stake in KCMH to Delight Prime. KCMH in turn holds an 80% stake in Sunseacan Investment (HK), with SYCHK holding the remaining 20%.

Keppel Land makes $60 mil acquisition of prime Jakarta site to develop residential building

SINGAPORE (Sept 19): Keppel Land is acquiring a prime site in Jakarta, Indonesia, for IDR586 billion ($60 million) from Bank Central Asia via its wholly-owned subsidiary, PT Sukses Manis Tangguh.

In a media release on Tuesday, Keppel Land says it intends to develop a premium high-rise residential tower on the site for an estimated cost of $170 million, and expects it to yield about 400 luxury apartments when complete.

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