KEPPEL LTD. Keppel Corporation Limited (the 'Company' or 'KCL') wishes to inform that its subsidiary, Keppel Land Limited ('KLL'), has today completed the sale of one (1) share ('Sale Share'), representing the entire issued and paid up capital of Kepler Investment Holding Pte. Ltd. ('KIH') (formerly known as Keppel Land Investment (Hanoi) Pte. Ltd.), an indirect subsidiary of the Company, to Nguyen Minh Tu (the 'Purchaser') for a nominal consideration of US$1 (the 'Consideration').
KIH is a company incorporated in Singapore. It is a dormant company with no corporate activity.
The Purchaser is an individual nominated by KLL's joint venture partner in Vietnam, Financial & Business Solutions Joint Stock Company (a subsidiary of the Gami Group).
The Consideration for the Sale Share was arrived at on a willing buyer willing seller basis taking into account the dormant status of KIH, as well as the book value and net tangible assets of the Sale Share, which as at 30 September 2015 was zero.
Pursuant to the Sale, KIH is no longer a subsidiary of the Company.
None of the directors or controlling shareholders of the Company has any interest, direct or indirect, in the above transaction.
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.
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