Li Guozhao, head of the working group for asset realization acceleration of Keppel Co., Ltd., said: "CGS and Wanjiang Logistics Park have been on our balance sheet for many years, but the options for selling are limited. Our holdings in CGS are...
Li Guozhao, head of the working group for asset realization acceleration of Keppel Co., Ltd., said: "CGS and Wanjiang Logistics Park have been on our balance sheet for many years, but the options for selling are limited. Our holdings in CGS are a minority stake with limited equity, which operates in a difficult market environment.
The company established a "Accelerating Cashback Working Group" at the beginning of this year and set a goal. Before the end of 2026, it will sell off non-core assets to cash out 10 billion to 12 billion yuan.
"The Working Group has evaluated these assets and proposed a new asset disposal plan, allowing us to achieve a value of over 80 million yuan from these disposal activities."
Keppel Ltd. sold all shares in two foreign companies for a total selling price of RMB 80 million.
Group has completed the sale of 20.5% of CGS's equity. As for the transaction to sell 75.8% of the shares of Keppel Wanjiang International Cold Chain Logistics Park, it is expected to be completed in the second half of this year. After the two transactions are completed, Keppel will no longer hold any equity in the two companies.
Keppel issued a statement Friday (June 6) announcing the sale of shares of US commercial solutions company Computer Generated Solutions (CGS) and China's Keppel Wanjiang International Cold Chain Logistics Park (Anhui) Co., Ltd.
If the transactions between CGS and Wanjiang Logistics Park are included, Keppel has announced a transaction of more than 7.3 billion yuan in cash out of asset cash out plan since launching the 17.5 billion yuan asset cash out plan in October 2020. Keppel is conducting another sale transaction worth RMB 550 million and has entered a more in-depth consultation phase.
