Keppel's (SGX:BN4) wholly owned subsidiary, Kepland Investama, is facing a civil action in Jakarta regarding the ownership of land plots where the International Financial Centre (IFC) Jakarta Tower 2 complex is located, according to a filing with the Singapore Exchange on Monday.
The legal challenge was lodged by an individual named Tumpal Hutabarat, who claims ownership rights over approximately 24,500 square meters of land that overlaps with Kepland Investama's property.
Hutabarat is seeking a declaration of legal ownership, potential compensation totaling approximately 2.28 trillion Indonesian rupiah, and the return of any unused portions of the disputed land.
Kepland has denied the claims and is looking to defend the action.
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