Temasek Holdings sells off shares in Keppel REIT

October 22
1:48 PM 2013

Singapore's state owned investment firm, Temasek Holdings Pte, had disposed of its stake in office real estate firm Keppel REIT. This was confirmed by two people familiar with the transaction.

Temasek had sold off nearly 103.9 million with an average price of SGD1.195 or about SGD124 million or USD 100 million. The information provided Bloomberg was confirmed by one of the sources, who sought anonymity as the information is still private in nature. 

Stephen Forshow, Temasek Singapore's spokesperson, did not immediately provide a response to Bloomberg News for inquiries on the sale. For its part, Keppel Corp, Keppel REIT Singapore's parent, responded that it could not provide a comment on the matter.

Temasek announced in July that its assets increased to a record SGD215 billion in the fiscal year ending March 31 as the growth in the stockmarket had translated to a six-fold increase in returns. The total shareholder return, such as dividends, grew from 1.5% to 8.9% from the previous year.

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