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Author: kimeng   |   Latest post: Mon, 18 Jun 2018, 09:32 AM

 

Keppel Corporation: Strengthening Presence in Indonesia

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Keppel Land recently announced that a whollyowned subsidiary has entered into a conditional sales and purchase agreement with Bank Central Asia to acquire a prime site in Jakarta’s central business district for a total consideration of Rp 586b (~S$60m). The plan is to develop a premium high-rise tower which could yield about 400 luxury apartments; total development cost is estimated to be S$170m.

With a GFA of about 390k sf, the site sits along the main thoroughfare of Jalan Jenderal Sudirman and is adjacent to KepLand’s commercial development, International Financial Centre Jakarta. This premium high-rise tower will meet the needs of a growing expatriate and local business community seeking well-located apartments in the city centre.

Looking ahead, Indonesia is likely to remain one of Keppel Land's key growth markets and we expect more upcoming developments.

Maintain BUY with S$7.36 fair value estimate on Keppel Corporation.

Source: OCBC Research - 22 Sept 2017

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Labels: Keppel Corp

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Chart Stock Name Last Change Volume 
Keppel Corp 7.16 -0.08 (1.10%) 1,411,000 

Market Buzz

Date Type Subject
15-Jun-2018 Announcement Asset Acquisitions and Disposals::SALE OF INTEREST IN SUBSIDIARY KEPPEL TOWNSHIP DEVELOPMENT (SHENYANG) CO. LTD
14-Jun-2018 Announcement Share Buy Back - Daily Share Buy-Back Notice::Share Buy Back - Daily Share Buy Back Notice
13-Jun-2018 Announcement General Announcement::Keppel delivers second rig to Borr Drilling

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