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Low Keng Huat to sell Viet hotel unit for 1.1 trillion dong

CONSTRUCTION firm Low Keng Huat is proposing to sell its Vietnam hotel subsidiary for 1.1 trillion dong (S$67 million).

Low Keng Huat owns Vinametric, which owns and operates Duxton Hotel Saigon in Ho Chi Minh City's District 1. The hotel was valued by CBRE to be US$40 million as at April 2014.

Estimated net proceeds of S$65 million will be used for general working capital and investment purposes.

Low Keng Huat last traded at S$0.61 a share.

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