Singapore's Keppel Land exits Sri Lanka venture
Feb 26, 2016 17:15 PM GMT+0530 | 1 Comment(s)
ECONMYNEXT - Singapore-based Keppel Land Plc said it had exited a joint venture with Sri Lanka Ceylon Theatres group for 550 million rupees.
The firm said in a Singapore stock exchange filing that it's wholly owned unit Edmonton Pte Ltd, to divest a 60 percent stake in Keppel CT Developments (Pte) Ltd, a joint venture that was to build a condominium in Colombo.
The sale was disclosed despite it not being a material impact on profits or earnings.