Keppel Ltd. (BN4) said on Feb, 12 2026 that it and its wholly owned units, Keppel Management Ltd. and Molten Pte. Ltd., together with 64%-owned Kepwealth, Inc., have agreed to sell their entire 86.83 per cent holding in Keppel Philippines Properties, Inc. to Forward Synergy Group, Inc. for about PHP 472.7 million (approximately 10.5 million Singapore dollars).

Keppel will receive around PHP 471.0 million (about 10.4 million Singapore dollars), reflecting its 98 per cent economic interest in the shares being sold.

The consideration was negotiated on a willing-buyer, willing-seller basis, taking into account an independent valuation and the net asset value of Keppel Philippines Properties. The sale shares carried a net asset value of roughly PHP 428.6 million (about 9.5 million Singapore dollars) as at Sep, 30 2025, and a market value of approximately PHP 668.4 million (about 14.8 million Singapore dollars) as at Feb, 11 2026.

Completion is subject to customary conditions, including a mandatory tender offer by the buyer under Philippine securities regulations. The payment will be made in three tranches, and Keppel Philippines Properties will cease to be a subsidiary once the deal closes.

Keppel said the divestment is not expected to have a material impact on its net tangible assets or earnings per share for the current financial year.