Keppel Corp unit in joint venture to develop customer reward programme

KEPPEL Corporation, through its unit Kepventure, has entered a joint venture with Liquid Group, a Singapore-based QR payment services provider, to develop and implement a customer reward programme for Keppel Group entities.

To that end, Kepventure, Liquid Group and Keppel Rewards have entered into a subscription and shareholders' agreement to manage the joint venture company, Keppel Corp said on Tuesday.

Kepventure and Liquid Group each subscribed for about 1.8 million shares and 200,000 shares in the joint-venture company at S$1 per share.

Keppel Corp said the transaction is not expected to have any material impact on its net tangible assets per share or earnings per share for the current financial year.

No details were given about what the customer reward programme would entail.

Shares in Keppel Corp closed down 0.48 per cent at S$4.14 on Tuesday before the announcement.