Keppel Sells 42% Stake in South Rach Chiec, Completes Divestment in March

TigerNews SG

2025/04/01

Keppel sold all of its 42% stake in South Rach Chiec, the developer of the Palm City project in Ho Chi Minh City, to Vietnamese real estate company Gateway Thu Thiem through its property division.

It received cash proceeds of 2.6 trillion Vietnamese dong (S$136.6 million).

Keppel said in a statement on Tuesday that the divestment was completed in March and brought in net divestment gains of about S$55 million for Keppel.

On Friday, Keppel's share price closed flat at S$6.90.

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