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MARKETS & INVESTING | Staff Reporter, Singapore

Keppel sells Vietnam unit for US$10.9m

The firm holds an office unit in Hanoi.

Keppel Corporation follows up its capital recycling measures as it divests its interest in Fernland Investment to Prime Value Asia for US$10.9m.

According to a press release by Keppel, Fernland owns 78.58% of the paid up charter capital in a Vietnamese incorporated company, which holds an office building in Hanoi, Vietnam.

The transaction will be completed by 30 June 2016, Keppel said.

 “The abovementioned transaction is not expected to have any material impact on the earnings per share and net tangible asset per share of KCL for the current financial year,” they added.

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