Keppel Corporation and Keppel Land have agreed to acquire the remaining 30 per cent interest in Harbourfront One, which holds Keppel Bay Tower, from Mapletree Investments for about $180.9 million.
This is part of a share swap transaction with Mapletree.
The holding companies under Keppel Corporation and Keppel Land will divest to Mapletree their 39 per cent interest in Harbourfront Two, which holds Harbourfront Towers 1 and 2, for about $225.7 million.
The share swap will allow Keppel Group to increase its interest in Keppel Bay Tower from 70 per cent to 100 per cent, it said.
Keppel Bay Tower and Harbourfront Towers 1 and 2 were jointly developed by Keppel and Mapletree in 2002 as part of the Keppel Bay and Harbourfront development.
Mr Koh Boon Hwee has resigned as the company's executive chairman with effect from today but will remain as a non-executive chairman.
He was appointed executive chairman to ensure a smooth integration of First Engineering into the group. As the integration has been successfully completed, Mr Koh will resume his position as non-executive chairman, the board said.
Ezra Holdings' marine services unit has won contracts to build two oil barges worth NT$716 million (S$31 million) for a new client, CPC Corporation, a Taiwan-owned energy company that supplies its domestic market.
The new contracts are to build a pair of oil barges intended for coastal service and supplying bunker fuel to vessels in Taiwan's harbour and coastal areas.
They are to be delivered in the second quarter of the 2018 financial year.
Far East Orchard
Far East Orchard has agreed to buy a development site in Brighton, East Sussex in Britain for about £5.35 million (S$11 million).
The group will develop the 0.16ha site into purpose-built student accommodation including about 200 student rooms and eight affordable housing units. The development is estimated to be completed by the end of 2018.