Keppel T&T sells stake in Asia Airfreight Terminal Co for HK$250m

KEPPEL Telecommunications & Transportation (Keppel T&T) said on Friday it has agreed to sell its 10 per cent interest in Asia Airfreight Terminal Company for HK$250 million (S$45.2 million) to Holistic Capital Investment, a unit of Hong Kong Airlines.

Asia Airfreight Terminal, located at Hong Kong International Airport in Chek Lap Kok, New Territories, offers services such as cargo handling and documentation processing.

"The transaction is in line with the company's strategy to divest non-core assets and recycle its capital to seek higher returns," Keppel T&T said. "The proceeds from the divestment will allow Keppel T&T to pursue further growth opportunities in its core businesses in data centres and logistics."