Keppel Updates On Legal Action Against Subsidiary M1 Ahead Of Planned Divestment

SGX Filings

Oct 13, 2025

Keppel Ltd. announced that its indirect subsidiary M1 Limited has been served with an Originating Application by Liberty Wireless Pte. Ltd. in the High Court of Singapore.

Liberty Wireless alleges that M1 wrongfully refused to enter into good-faith negotiations to amend a contract dated May 22 2019 so as to address the Infocomm Media Development Authority’s Framework for the Wholesale of Mobile Services issued in Jan 2020. The claimant seeks a court declaration compelling M1 to start such talks within 14 days and may apply to rectify the contract if required.

Keppel said M1 considers the allegations without merit and will vigorously defend its position.

On Aug, 11 2025 Keppel’s units Keppel Konnect Pte. Ltd. and Konnectivity Pte. Ltd. signed a sale and purchase agreement to divest the entire issued share capital of M1 to Simba Telecom Pte. Ltd., with Tuas Limited acting as guarantor. The transaction remains subject to conditions precedent, including approval from the Infocomm Media Development Authority.

Based on current information, the vendors do not expect the legal proceedings to adversely affect or delay completion of the proposed sale. Keppel will issue further updates if there are material developments and advised shareholders to exercise caution when trading its securities.

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Keppel will issue further updates if there are material developments and advised shareholders to exercise caution when trading its securities.","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"SGX","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}