Keppel’s gain from sale of 112 Katong to be under 5%, says UOB

SINGAPORE (June 23): UOB Kay Hian is maintaining its “hold” rating on Keppel Corporation with a price target estimate of $6.55 following news of the conglomerate’s alleged sale of 112 Katong, which is presently 22.4%-owned by the group’s subsidiary, Keppel Land.

The remaining 77.6% of the mall is owned by Alpha Investment Partners' Alpha Asia Macro Trends Fund (AAMTF).

It was previously reported that Keppel had put the mall on the market for sale, with expectations for the property to fetch around $500 million.

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