Last October, Keppel Land China announced the divestment of 100% stake in Keppel China Marina Holdings for RMB2.9 billion ($590 million) to Delight Prime. However, the completion was delayed due to objections by a minority shareholder, Sunsea Yacht Club (Hong Kong).
SINGAPORE (Apr 3): CIMB is maintaining Keppel Corp at "add" with unchanged target price of $10.00 on recognition of $270 million in divestment gain for 1Q18.
"We expect 1Q18 ended March earnings to be supported by the gain. O&M may reach almost breakeven without kitchen-sinking provisions," says analyst Lim Siew Khee in a Monday report.
