Advertisement
Singapore markets open in 6 hours 37 minutes
  • Straits Times Index

    3,367.90
    +29.33 (+0.88%)
     
  • S&P 500

    5,497.02
    +21.93 (+0.40%)
     
  • Dow

    39,263.97
    +94.45 (+0.24%)
     
  • Nasdaq

    17,998.40
    +119.10 (+0.67%)
     
  • Bitcoin USD

    62,209.05
    -1,568.18 (-2.46%)
     
  • CMC Crypto 200

    1,313.74
    -30.77 (-2.29%)
     
  • FTSE 100

    8,121.20
    -45.56 (-0.56%)
     
  • Gold

    2,335.20
    -3.70 (-0.16%)
     
  • Crude Oil

    82.94
    -0.44 (-0.53%)
     
  • 10-Yr Bond

    4.4490
    -0.0300 (-0.67%)
     
  • Nikkei

    40,074.69
    +443.63 (+1.12%)
     
  • Hang Seng

    17,769.14
    +50.53 (+0.29%)
     
  • FTSE Bursa Malaysia

    1,597.96
    -0.24 (-0.02%)
     
  • Jakarta Composite Index

    7,125.14
    -14.48 (-0.20%)
     
  • PSE Index

    6,358.96
    -39.81 (-0.62%)
     

Keppel completes divestment of Sedona Hotel Yangon in Myanmar for $75.6 mil

The consideration is more than the NAV of the sale shares of about US$43.9 million as at Feb 28.

Keppel Corporation has, through its real estate division, completed the divestment of its 100% stake of Greenfield Development to Spring Blossom Ventures.

Greenfield Development holds 100% of the shares in Straits Greenfield Limited (SGL), which has the right to build and operate Sedona Hotel Yangon, a five-star hotel in Yangon, Myanmar.

The cash consideration from the divestment is around US$57.4 million ($75.6 million) and is subject to completion adjustments. The consideration is more than the net asset value (NAV) of the sale shares of about US$43.9 million as at Feb 28.

ADVERTISEMENT

Shares in Keppel closed 9 cents lower or 1.35% down at $6.57 on Oct 16.

See Also: