SUBSCRIBERS
Keppel Land sells 80% stake in Surabaya mall
Group expects S$12.5m after-tax gain from disposal
Add BT as a preferred sourcePublished Mon, Sep 22, 2014 · 04:00 PM
KEPPEL Land (KepLand), through its wholly owned subsidiary PT Keppel Land, has divested its 80 per cent stake in BG Junction - a strata-titled retail development in Indonesia's Surabaya - to Silverise Enterprise and PT Pelangi Arjuno, for about 400 billion rupiah (S$42.8 million).
The sale is expected to yield an after-tax profit of about S$12.5 million for KepLand, the company said in an announcement to SGX on Monday.
The transaction is expected to be completed by the end of this year.
Copyright SPH Media. All rights reserved.
