Keppel sells stake in Thai firm ARIP for TH฿60.7m

ARIP will also cease to be an associate company of Keppel.

Keppel Telecommunications & Transportation Limited through its wholly-owned subsidiary Apsilon Ventures Pte Ltd, has sold its 20.05% equity interest in Thailand-listed ARIP Public Company Limited to ARIP’s director and executive chairman Min Intanate for TH฿60.7m ($2.6m)

ARIP is a Thailand-based firm with business related to event management, electronics and information technology.

Keppel said that the market value represented by the sale shares as at 25 June was approximately TH฿68.2m ($2.8m).

The consideration was arrived at on a willing-buyer, willing-seller basis taking into account the historical volume weighted average prices of ARIP. Keppel said that the divestment is also in line with the company’s Vision 2030 and plans to monetise non-core assets and seek new growth opportunities. 

Keppel said that the sale of the share has no expected material impact on the net tangible assets per share or earnings per share of the company for the current financial year. 
 

Follow the links for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

C&W Services transforms headquarters into a ‘living lab’
The new office is set to be the ground for the firm’s new facilities management technologies.
How investor stewardship puts companies in a win-win state
Stewardship Asia Centre CEO says a company’s failure to take care of society is a failure to take care of its stakeholders.
Creating harmony in a heterogonous workforce 
An HR expert said tests like DISC can help identify which employees can work best together.