KEPPEL CORPORATION LIMITED
BN4.SI
Keppel Corporation - Strengthening Presence In Indonesia
- Keppel Land recently announced that a wholly-owned 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.
Low Pei Han CFA
OCBC Investment
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http://www.ocbcresearch.com/
2017-09-22
OCBC Investment
SGX Stock
Analyst Report
7.360
Same
7.360
