KepLand to sell 80% stake in Indonesian JV for S$57m

Singapore

KEPPEL Corporation Limited's property unit Keppel Land has agreed to divest its 80 per cent effective stake in an Indonesian joint venture for 529 billion rupiah (S$57 million), a move that is expected to yield an after-tax profit of about S$32 million.

Its wholly owned subsidiary Meadowsville Investment Pte Ltd entered into an agreement on Wednesday to sell its 80 per cent stake in PT Sentral Tunjungan Perkasa (PT S…