Keppel Corp units divest stakes in two Thai property-related firms for S$6.9m

KEPPEL Corporation on Friday said that it will sell for S$6.9 million in total its full interests in two Thai-based firms set up to acquire and develop two plots of residential sites located in Bangkok, Thailand.

Keppel Land, through its two units, will sell their entire interests - each at 49 per cent - in KPN-Keppel Alliance and KPN-Keppel Alliance to KPN Land Company. Keppel Corp expects to make a small gain from the proposed divestment, it said.

Shares of Keppel Corp closed on Friday at S$6.16, up one Singapore cent.