Following the divestment, Keppel Land, which is the property arm of Keppel Corporation, will continue to be the property manager of Keppel Bay Tower.
"Through Keppel Land's interest in Keppel Reit, Keppel Land will continue to enjoy the rental income and potential capital value appreciation of Keppel Bay Tower, as well as benefit from the growth of the Reit." In a separate exchange filing on Wednesday, Keppel Corp said Keppel Offshore & Marine has successfully complied with its obligations under the US Deferred Prosecution Agreement entered into with the US Department of Justice in December 2017 and the DPA has accordingly concluded.
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