Singapore’s Keppel Land exits Sri Lanka venture

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.