Seizing Opportunities

Seizing Opportunities

Mr Loh Chin Hua, CEO of Keppel Corporation and Chairman of Keppel Land, presented the Keppel Group’s strategic developments and performance at Keppel Corporation’s 3Q and 9M 2017 results webcast on 19 October 2017. Across borders reproduces highlights of his speech on the property business as well as the collaboration between Keppel Land and Keppel Urban Solutions, a new business unit, for Saigon Sports City in Vietnam.

Keppel REIT maintains high portfolio occupancy

Keppel REIT has delivered stable distributable income of $142.5 million for 9M 2017. The decrease was attributable to the absence of income from 77 King Street in Sydney which was divested in January 2016, lower one-off income received and the absence of other gains distribution. Distribution per Unit (DPU) of 1.40 cents was declared for 3Q 2017, bringing total DPU for 9M 2017 to 4.27 cents.

Realising in value

Keppel Land China has divested its entire 100% interest in Keppel Lakefront (Nantong) Property Development Co Ltd (KLNPD) to Nantong Wanjun Commercial Information Consultancy, a subsidiary of China Vanke, for a total consideration of RMB 1,430 million (approximately $292 million).

Changes in leadership

After more than 26 years of service, Mr Ang Wee Gee, CEO of Keppel Land, will be leaving the Company on 31 December 2017 to pursue other interests. Mr Loh Chin Hua, CEO of Keppel Corporation, who is concurrently Chairman of Keppel Land, will assume the role of Executive Chairman of Keppel Land with effect from 1 January 2018. The Company is currently evaluating possible candidates to assume the role of CEO of Keppel Land.