Temasek Said to Weigh Keppel Sale of M1, Office REIT Stakes
- State firm discusses rights offerings for Keppel, Sembcorp
- Lowest crude prices in decade crimp demand for oil rigs
Temasek Holdings Pte is discussing options for portfolio companies Keppel Corp. and Sembcorp Industries Ltd., ranging from divesting their non-core assets to selling shares, as the two Singaporean rig builders grapple with the oil-price slump, people with knowledge of the matter said.
The state investment company is weighing the possibility of Keppel selling its 19.1 percent stake in wireless operator M1 Ltd. and paring its 44.6 percent interest in office landlord Keppel REIT, the people said, asking not to be identified as the information is private. The Keppel holdings were worth S$1.6 billion ($1.1 billion) at Tuesday’s close, data compiled by Bloomberg show. M1 shares rose 4 percent, the most since November 2014, to S$2.33 at the close in Singapore on Tuesday.