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COMMERCIAL PROPERTY | Staff Reporter, Singapore

Keppel Land buys stake in Krystal Investments for $32.7m

As a result, its investments in Saigon Centre also increased.

Keppel Land Limited (Keppel Land) increased its investment in UK-based Krystal Investments Pte Ltd (Krystal Investments) by buying the balance 49% interest for $32.7m (US$24.31m).

According to an announcement, Keppel Land’s aggregate effective interest in Saigon Centre Phase 1 and 2 has also increased from 53.2% to 61.3% and in Saigon Centre Phase 3, from 76.2% to 84%.

Krystal Investments is now also Keppel Land's indirect wholly-owned subsidiary.

The unaudited net asset value and the book value of the Stake are approximately $24.26m (US$18.03m) and $25.32m (US$18.82m), respectively as at 31 October 2017.

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