Keppel Ltd. (SGX:BN4) and Keppel Vietnam Fund entered into an agreement to acquire 49% stake in Residential project in Ho Chi Minh City from Khang Dien House Trading and Investment Joint Stock Company (HOSE:KDH) on May 26, 2023. Along with this, Keppel is also acquiring a residential project in Ho Chi Minh City. Both the transactions are for an aggregate consideration of VND 3.18 billion.

Khang Dien Group will hold the remaining 51% interest and jointly develop these projects with the Keppel. The necessary developmental approvals, including the masterplan and land use right certificates for the sites, have been obtained. The transactions are slated to be completed in 2023 and are not expected to have any material impact on the earnings per share and net tangible asset per share of Keppel Corporation Limited for the current financial year.